This webinar is designed to help banks and credit unions get smart about opening online accounts (Covers both new consumer and business accounts) . It will evaluate practical risk management strategies institutions can use to build a program appropriate for their risk appetite, validation and verification strategies, due diligence. How to support online account development with the appropriate products, social marketing campaigns, and effective risk strategies.
We will discuss the ways in which online account opening presents both growth opportunities and significant risks for FIs. We will delve into the specific risks associated with digital accounts that are ACH-funded. You will discover how these risks can be controlled with proper due diligence for the online environment, account validation, and enhanced risk controls. We will evaluate practical risk management strategies that your Institution can use to build and implement a program that is appropriate for your risk appetite. This session will cover both new consumer accounts and business accounts.
Why Should You Attend:
For a digital account solution to be successful, FIs need to understand how to start new or grow existing online relationships. While online account opening presents growth potential for institutions, it also presents significant risk, particularly when these accounts are funded using ACH. These risks can be controlled with proper due diligence for the online environment, account validation, and enhanced risk controls.We will discuss the ways in which online account opening presents both growth opportunities and significant risks for FIs. We will delve into the specific risks associated with digital accounts that are ACH-funded. You will discover how these risks can be controlled with proper due diligence for the online environment, account validation, and enhanced risk controls. We will evaluate practical risk management strategies that your Institution can use to build and implement a program that is appropriate for your risk appetite. This session will cover both new consumer accounts and business accounts.
Areas Covered in the Webinar:
- Benefits of Online Accounts for Expanding Your Institution's Footprint & Profit
- Risks Related to Digital Accounts, Specifically ACH-Funded Online Accounts, e.g., Risk-Rating New Customers or Members
- How Common Data Breaches Impact Your Ability to Screen and Validate New Digital Accounts
- Methods of Validation for New Online Accounts & Why Common Validation Techniques Fail in This Arena
- Balancing Automated and Manual Verification
- Proper Due Diligence and Best Practices for/Critical Components of an Online Account Solution
- Evaluation of Risk Management Strategies Based on Risk Appetite
- Limiting Risk, Exposure, and Losses
- Digital Account Issues Related to Both New Consumer Accounts and New Business Accounts
Who Will Benefit:
- Customer Service Personnel
- Operations Officers/Supervisors and Personnel
- Compliance Officers
- Risk Management Personnel
- Treasury Management
- Product/Service Development
- Loan Officers
Speaker
Rayleen M PirnieSpeakers
Rayleen M Pirnie,
