← ModernFi
ModernFi role-play cheat sheet
For the mock cold call at the end of most SDR interviews.
What they sell, in one line
A network that helps banks and credit unions gain deposits and spread large balances across institutions for FDIC coverage.
Who you'd be calling
CFOs, Treasurers, Chief Lending/Deposit Officers and Heads of Funding at community banks and credit unions
Your opener
“Hi, this is Sam from ModernFi. I know I'm calling out of the blue. We help banks like yours keep large deposits in-house while giving those customers extra FDIC coverage. Do you have 30 seconds for me to explain why I called?”
Problems you solve for them
- Hard to attract and keep deposits when customers move money to higher-rate rivals
- Large depositors want FDIC insurance above the standard limit
- Reliance on costly wholesale funding hurts margins
Discovery questions to ask
- How are you handling deposit growth and funding costs right now?
- What happens today when a customer has more than $250K and asks about insurance coverage?
- Have you lost any large deposits to other banks or to money market funds recently?
Objections they'll throw at you
“I'm in the middle of something, I don't have time.”
→ Totally fair, I'll be quick. Would it be better if I called back tomorrow morning or later this week?
“We're not interested.”
→ Understood, I did call out of the blue. Out of curiosity, is deposit growth not a priority right now, or is it already well covered?
“We already use a deposit placement service.”
→ Good, that means large depositors matter to you. How happy are you with the rates and control you get, and would a quick side-by-side comparison be useful?
“Just send me an email.”
→ Happy to. So I send you something useful, what's the biggest deposit challenge on your plate right now?
Competitors worth knowing
IntraFi, Reich & Tang
Interview tips for this company
- Learn the basics of FDIC insurance: the standard limit is $250,000 per depositor, per bank, per ownership category.
- Practice sounding calm and respectful with bankers, who are cautious and regulated, and use plain words instead of jargon.
Written from public information about ModernFi to help you practice. Ask an insider what their role play looked like; it's the best prep there is.