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The improved sign-in experience for the NBID Depositor Portal goes live tomorrow, Tuesday, June 23rd. Below is a detailed overview of what your depositors will experience on conversion day.
The conversion will take place between 6am and 9am ET on June 23rd. During this window, your depositors will not be able to access the Depositor Portal. At the moment of conversion, every Insured Sweep Account customer at your institution will receive a password reset email from support@modernfi.com. After establishing a new password, depositors can sign in using the same URL (accounts.modernfi.com) to access the portal. The reset link will remain valid for 30 days for any depositor who does not act immediately.
If your institution has opted into Multi-Factor Authentication (MFA) for your depositor base, your customers will also be prompted to enroll in MFA on first sign-in. They may choose either Time-based One-Time Password (TOTP) through an authenticator application of their choice or SMS.
To help prepare for any depositor questions and requests, we have shared this guide providing instructions for managing depositor invitations and other frequently asked questions. We recommend sharing it with anyone at your institution who may field depositor calls or emails on or after June 23rd.
Though we expect minimal disruption, the NBID team will be online to support throughout this process. For any questions or escalations, please reach out to your Regional Director or support@modernfi.com.
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