Opening Deposit Accounts Online:  Risk, CIP and CDD Issues
TELEPHONE OR WEBCAST SEMINAR

              2:00-3:30 PM Central Time                 

Overview:

Your customers are busy and beginning to demand opening deposit accounts online.  They want to open bank accounts and do business from their homes in the evenings.  It might be time for your bank to begin evaluating the risk and process that would need to happen to open deposit accounts without meeting the customer face to face.  There are many compliance issues that will emerge as you begin your evaluation.  How much risk are you willing to take?  How can you manage that risk and be in compliance with the Bank Secrecy Act's sections on Customer Identification Program (CIP) and Customer Due Diligence (CDD).  What additions would you have to make to your policy and your contracts to make this work? These issues and many more will be the subject of this seminar as your institution moves to opening on line bank deposit accounts.

HIGHLIGHTS

• Evaluating the risk of opening on-line bank accounts
• Identification requirements and verification procedures
• Forms, worksheets and policy decisions
• Getting a game plan together
• Placing holds and looking at your special rules for new accounts
• Signature card contracts-ownership and access issues
• Issuing debit cards
• Timing of Federal disclosures and responsibilities

WHY SHOULD YOU PARTICIPATE?

This session is a cost-effective way to instruct customer service representatives, deposit operations, compliance officers, marketing and training personnel on how to manage risk of on-line deposit accounts.You may train as many individuals as you like for one set price.  There will be no travel costs, time lost from work and no one will be required to leave the institution.

WHO SHOULD ATTEND?

This informative session is directed to deposit operations, compliance officers, marketing, training, customer service representatives