Capabilities Deck 08.02.2022

Let’s Accelerate
Your Innovation

June 8, 2022

Introduction to
Mode Eleven

A Modular Approach

Lending Emerging Deposit and Access to Digital Asset Compliance
as-a- Payments & Branded Payment
Service Cards Accounts Rails Custody Management

• Origination • Principal • Fintechs • ACH • Supports • Sanction
via National member • Brand • Fedwire lending Screening
Charter Mastercard / • Checks products
Visa platforms • Swift • Customer
• Robust • RTP • Card Onboarding
Compliance • Push to card • Stablecoin settlements
and Oversight • Acquiring • Transaction
• Virtual card related • Issuance of Monitoring
• Capital payments stablecoins
Markets issuance
Expertise • Digital Asset

• Highly related cards
Customizable
Product
Support

How We Got Here

Summit National Tech Stack Upgrade
Bank originally Banking Core Upgrade
chartered in
Wyoming as Hulett Forrest Gilman OCC Approves BaaS Mode Eleven Services
National Bank becomes CEO to business strategy connects clients to
lead the Mode BaaS and national
Eleven BaaS Qualified Custodian bank-supported
innovation team Non-Objection Received functions

1984 Mode Eleven
Technology manages
Rebranded to Mode Product Builder makes API access and
Eleven Bancorp it easy for fintechs licensing with
to leverage technology clients
and services to create
seamless deliveries

Mode Eleven Bancorp

Summit National Mode Eleven Mode Eleven
Bank Technology Services

Community FinTech Licenses and access to Product Design and
Bank Division Division Mode Eleven Technologies Development; Services
• Developer Hub • Operational
Banking Services • Product Portal • Risk
• Disbursements • APIs • Compliance
• Custody • Fulfillment
• Access Point to FinTech

Division for Bank-
delivered services

Leadership

Senior Management with decades of
cap markets expertise

Forrest Gilman

CEO AND PRESIDENT

Forrest is Chairman and CEO of Hulett Bancorp and CEO and President of Summit National Bank. He
was an accountant and spent over 12 years working on Wall Street in several different positions
including as a Managing Director at both Deutsche Bank and UBS. Forrest is an active angel
investor and is a member of the advisory committee for Entrepreneurship at Cornell, where he
received a BS in Applied Economics and Business Management. Mr. Gilman also has an MBA from New
York University.

Ned Cataldo

EVP HEAD OF STRATEGY, NEW PRODUCT AND INNOVATION

Mr. Cataldo is Executive Vice President of Summit National Bank and Head of Strategy, New Product
and Innovation. Mr. Cataldo is responsible for oversight of all new product initiatives for
Hulett Bancorp and Summit National Bank. Mr. Cataldo spend over 15 years on Wall Street including
time at Deutsche Bank, Bank of America and BNP Paribas ultimately holding the title of Managing
Director. Mr. Cataldo has an MBA from the University of Rochester, where he was awarded a Xerox
Fellow for excellence in the field of finance. He also has a BS from Providence College.

The Mode Eleven team has deep experience
driving Digital Asset innovation in the market.

Michael Gillen

HEAD OF CARD ISSUANCE AND PROCESSING

During his tenure as Director of Debit Card Operations at Metropolitan Commercial
Bank, Michael worked on bringing several successful programs to market including
the Crypto.com card, The Bitpay Card and Revolut US. He also quarterbacked the
pilot programs for both MasterCard and Visa using digital currency USDC for
settlement working in tandem with Circle, Centre, Anchorage and Paxos.

Michael Dowling

CHIEF TECHNOLOGY OFFICER

Michael has led and was a senior member of blockchain initiatives at firms such
Wells Fargo, R3 including serving as CTO of IBM’s Blockchain Financial Solutions
team. He was also a Co-Founder and architect of Jewel, a proposed licensed bank
in Bermuda servicing global digital asset businesses with a full stack of banking
services on fiat and DLT accounts and intends to become a stablecoin issuer.

Compliance and Lending-as-a-Service Expertise

Kevin Leitão

GENERAL COUNSEL, SECRETARY

Kevin is an experienced FinTech general counsel and compliance leader who has worked for banks and
other financial services companies for 20 years with a focus on digital financial service
products. He most recently served as General Counsel at WebBank, where he played a key role in
managing brand platform relationships, product counseling and supporting business development. He
also has worked as corporate counsel and/or senior compliance leader for TIAA, Merrill Lynch and
GE Card Services (now Synchrony) and the mobile wallet company, SoftCard. He began his career as
a corporate and regulatory lawyer at a large New York-based law firm. Mr. Leitão holds a J.D.
from Yale Law School, a M.Phil. in Criminology from Cambridge University (as a recipient of a
Marshall Scholarship from the UK government) and an A.B. from Brown University.

Cort Christensen

SVP DIRECTOR OF DEPOSIT, CARD & LOAN OPERATIONS

Cort Christensen is an experienced financial services professional with a focus on partnering
and supporting financial technology companies to deliver unique, innovative, and compliant
financial services to market. He most recently worked at TAB Bank where he held a number of
management level positions in sales and operations and lead the development of TAB Bank’s
Strategic Partnerships Program. Cort earned a B.S. from Utah State University and a M.B.A.
from the University of Phoenix.

Summit
National Bank

Bank Capabilities

• Nationally Chartered Bank
• Access to all payment rails
• Principal Member of

Mastercard and Visa

Advantages to You

• Brings clients the expertise of a bank
and the innovation and product
offering of a technology company

• Providing customers with complete,
customizable solutions

• Enables growth in the ever-evolving
market

• Provides clients access to all 50
states

Technology
Capabilities

[ Michael Dowling ]

Traditional Middleware API Banking Core API FinTech
Banking Core and API Customer
FinTech API
and Customer Tech Stack
Tech Stack
API

Current BaaS Enablers require “middleware” The Mode Eleven platform is designed to be flexible,
software to allow FinTech’s to access banking customizable, and cost effective.
platforms.
Mode Eleven’s proposed platform is
Drawbacks: intended to allow FinTechs to:

• Additional costs • Directly connect to the banking core
• Limited middleware API capabilities • Access customizable API capabilities
• Limited innovation flexibility • Reduce integration costs
• May need multiple middleware vendors to • Reduce time to market
• Reduce risk
achieve full suite

Lending-as-
a-Service

Mode Eleven's Modular Approach

Lending Emerging Deposit and Access to Digital Asset Compliance
as-a- Payments & Branded Payment
Service Cards Accounts Rails Custody Management

• Origination • Principal • Fintechs • ACH • Supports • Sanction
via National member • Brand • Fedwire lending Screening
Charter Mastercard / • Checks products
Visa platforms • Swift • Customer
• Robust • RTP • Card Onboarding
Compliance • Push to card • Stablecoin settlements
and Oversight • Acquiring • Transaction
• Virtual card related • Issuance of Monitoring
• Capital payments stablecoins
Markets issuance
Expertise • Digital Asset

• Highly related cards
Customizable
Product
Support

Mode Eleven's Lending-as-a-Service

Leverage Mode Eleven’s flexible technology and services
to help you facilitate a wide array of lending programs.

Rely on
Mode Eleven for:

Compliant Origination
Payments
Loan Compliance
Limited Balance Sheet
Capacity
Capital Market
Capabilities

How Mode Eleven's Lending-as-a-Service Works

Applicants submit loan
applications through a
digital marketplace
lending platform.
Automated models
provided by Fintech’s
and vetted by Mode
Eleven verify borrower
information and assess
loan risk.
Once the loan is
approved, Mode Eleven
funds the loan to the
designated party.

Emerging
Payments and
Cards

Mode Eleven's Modular Approach

Lending Emerging Deposit and Access to Digital Asset Compliance
as-a- Payments & Branded Payment
Service Cards Accounts Rails Custody Management

• Origination • Principal • Fintechs • ACH • Supports • Sanction
via National member • Brand • Fedwire lending Screening
Charter Mastercard / • Checks products
Visa platforms • Swift • Customer
• Robust • RTP • Card Onboarding
Compliance • Push to card • Stablecoin settlements
and Oversight • Acquiring • Transaction
• Virtual card related • Issuance of Monitoring
• Capital payments stablecoins
Markets issuance
Expertise • Digital Asset

• Highly related cards
Customizable
Product
Support

Build Your Branded Card Program

Mode Eleven can help you build a consumer or business debit or
credit card program in less time and with greater confidence with
Product Builder and White Glove Developer Support.

DEBIT CREDIT ACQUIRING With Mode ACH WIRES REAL-TIME PAYMENTS
SERVICES Eleven’s
Build your branded partnership’s,
debit card program it’s easy to Execute payments on all leading
with Mode Eleven’s begin accepting networks via ACH, Fedwire, and more.
integrated card card payments.
issuance and
sponsorship options. And with our
Leverage our credit MasterCard and Rely on real-time payments and
card BIN sponsorship Visa membership, settlements, party to party and
for your business or you’ll be able account to account money transfers.
consumer card program. to disburse
funds quickly. PUSH-TO-CARD

Mode Eleven’s Digital Payment Products
Anticipate Your Needs

Accounts Payable/ ACH Processing Card Present Virtual
Expense Management and Settlement Debit Card Debit Card

Digital Assets E-Wallet Mobile Payment International Bill Claim Handling
Settlement Debit Card Settlement Remittance Payment and Processing

Government Benefits Loan Advance / Merchant Peer-To-Peer (P2P) Push Payments, Rebate
Settlement Payment Settlement Acquiring Payments Real Time Settlement

Domestic & Int'l

Mode Eleven’s Digital Payment Products
Serve a Wide Array of Business Channels

Customer Corporate Crypto
Lending Banking Currency

Auto Corporate Corporate Financial Services Foreign Healthcare Hospitality
Accounts Payable Payroll to the Unbanked / Exchange Co-Pay
Underbanked
Management

Merchant Mobile Online Travel Trucking Prepaid
Acquiring Banking Gaming Phonecards

Deposit and
Branded
Accounts

Mode Eleven's Modular Approach

Lending Emerging Deposit and Access to Digital Asset Compliance
as-a- Payments & Branded Payment
Service Cards Accounts Rails Custody Management

• Origination • Principal • Fintechs • ACH • Supports • Sanction
via National member • Brand • Fedwire lending Screening
Charter Mastercard / • Checks products
Visa platforms • Swift • Customer
• Robust • RTP • Card Onboarding
Compliance • Push to card • Stablecoin settlements
and Oversight • Acquiring • Transaction
• Virtual card related • Issuance of Monitoring
• Capital payments stablecoins
Markets issuance
Expertise • Digital Asset

• Highly related cards
Customizable
Product
Support

Build Your Branded Deposit Program

The combination of Mode Eleven’s technologies, expertise, and
national bank are the foundation of your customized banking solution.

Demand Deposit Savings Purpose-Driven
Accounts Accounts Accounts

Your Mode Eleven-enabled Host a competitive We can help you design
digital banking solution program with and deliver customized
comes with FDIC-insured interest-bearing financial services
bank accounts. FDIC-insured savings products for specific
accounts. user purposes.

The combination Insurance Payments
of Mode Eleven’s Companies Companies
technologies,
expertise, and API API
national bank are
the foundation of Wealth API Product Marketplace
your customized Management Builder API Lending
banking solution. Companies
Real-Time Posting Companies
Account Management

Compliance

API API

Alternative Digital
Lending Asset

Companies Holders

Access to
Payment
Rails

Mode Eleven's Modular Approach

Lending Emerging Deposit and Access to Digital Asset Compliance
as-a- Payments & Branded Payment
Service Cards Accounts Rails Custody Management

• Origination • Principal • Fintechs • ACH • Supports • Sanction
via National member • Brand • Fedwire lending Screening
Charter Mastercard / • Checks products
Visa platforms • Swift • Customer
• Robust • RTP • Card Onboarding
Compliance • Push to card • Stablecoin settlements
and Oversight • Acquiring • Transaction
• Virtual card related • Issuance of Monitoring
• Capital payments stablecoins
Markets issuance
Expertise • Digital Asset

• Highly related cards
Customizable
Product
Support

Mode Eleven Payment Rails

Mode Eleven presents a modern API payments hub with
exceptional flexibility, choice, and large transaction
volume capacity.

ACH, Fedwire, Checks SWIFT, RTP

Market-ready Nov 2022 Market-ready Jan 2023

Note: The Mode Eleven team is actively investigating best options to
support Fed NOW and Stablecoins.

Digital Asset
Services

Mode Eleven's Modular Approach

Lending Emerging Deposit and Access to Digital Asset Compliance
as-a- Payments & Branded Payment
Service Cards Accounts Rails Custody Management

• Origination • Principal • Fintechs • ACH • Supports • Sanction
via National member • Brand • Fedwire lending Screening
Charter Mastercard / • Checks products
Visa platforms • Swift • Customer
• Robust • RTP • Card Onboarding
Compliance • Push to card • Stablecoin settlements
and Oversight • Acquiring • Transaction
• Virtual card related • Issuance of Monitoring
• Capital payments stablecoins
Markets issuance
Expertise • Digital Asset

• Highly related cards
Customizable
Product
Support

Why Choose Mode Eleven Digital Asset Custody Services1

Mode Eleven can provide a sophisticated digital asset solution with market reach and services
supported by a modern banking and technology infrastructure.

Digital Access to a Qualified Flexible,
Asset nationally Custodian modern tech
chartered bank
enabled status stack

When you partner with Mode Eleven

• Your lending products can reach customers in all 50 states
• Your assets under management are safeguarded by a Qualified Custodian
• Your digital asset-related card products are supported by a bank partner that is a

principal member of Master card/Visa and able to provide on and off ramps between digital
asset and fiat
• You work with a team with a developer-first philosophy

1 Digital asset custody services are subject to future regulatory guidance and will be provided through Mode Eleven Bancorp’s wholly-owned subsidiary Summit National Bank.

Digital Asset Custody

Rely on Mode Eleven to help you efficiently and safely connect clients
and products to the digital asset market.

What is your business need for Digital Asset Custody?

We can help you design and implement a digital asset custody solution. Whether your purpose is asset
storage, brokerage, investment agency, or security token management, talk to us about your business needs.

Investment Funds Corporate Treasury Collateralized Loans

Custody individual assets Corporate accounts with Continue investing in digital
with the ability to offer potential to dynamically split assets while enjoying fiat
liquidity
market execution reserves in digital assets.

Retail Offering Staking Stablecoin Issuance

Custody and execution Passive income opportunities Track and manage coin issuance
services that support access earned by locking up a against multiple FIAT currency
to the digital asset market portion of tokens
holdings in order to ensure
regulatory compliance

1 Digital asset custody services are subject to future regulatory guidance and will be provided through Mode Eleven Bancorp’s wholly-owned subsidiary Summit National Bank.

Compliance
Management

Mode Eleven's Modular Approach

Lending Emerging Deposit and Access to Digital Asset Compliance
as-a- Payments & Branded Payment
Service Cards Accounts Rails Custody Management

• Origination • Principal • Fintechs • ACH • Supports • Sanction
via National member • Brand • Fedwire lending Screening
Charter Mastercard / • Checks products
Visa platforms • Swift • Customer
• Robust • RTP • Card Onboarding
Compliance • Push to card • Stablecoin settlements
and Oversight • Acquiring • Transaction
• Virtual card related • Issuance of Monitoring
• Capital payments stablecoins
Markets issuance
Expertise • Digital Asset

• Highly related cards
Customizable
Product
Support

Compliance Management Solutions

Scalable services fully integrated with Mode Eleven’s technology platform.

Partners leverage our platform and The Mode Eleven
capabilities through... team has deep
experience
Customer Sanction Transaction navigating the
Onboarding Screening Monitoring evolving regulatory
Services environment.
Services Services We are dedicated to
helping partners
implement best
practice policies
and procedures.

Let’s Accelerate
Your Innovation