New Customer or Con-Artist ? Online Account Opening and Risk Mitigation
Instructor:
Rayleen M Pirnie
Product ID: 705748
- Duration: 90 Min
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
Rayleen M Pirnie
CEO, RP Payments Risk Consulting Services LLC
Rayleen is the founder and owner of RP Payments Risk Consulting Services, LLC. based in Missouri. She is a nationally recognized payments risk and fraud expert who offers specialized consulting services, procedural and risk management reviews, and payments education. Rayleen’s specialized skill is delving into the world beyond the payment rules; areas where organizations often find themselves in positions of liability or loss with little to no clear guidance. She is an Accredited ACH Professional (AAP) who has worked with all payment systems for nearly 20 years, and a Certified Enterprise Risk Professional (CERP). Rayleen also holds a Bachelor of Science in Criminal Justice Administration.
Her favorite pastimes include gardening with her grandson and reading. She is very active with children’s advocacy services in the state of MO and has 4 rescued dogs.
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Refund Policy
Our refund policy is governed by individual products and services refund policy mentioned against each of offerings. However in absence of specific refund policy of an offering below refund policy will be effective.
Registrants may cancel up to two working days prior to the course start date and will receive a letter of credit to be used towards a future course up to one year from date of issuance. ComplianceOnline would process/provide refund if the Live Webinar has been cancelled. The attendee could choose between the recorded version of the webinar or refund for any cancelled webinar. Refunds will not be given to participants who do not show up for the webinar. On-Demand Recordings can be requested in exchange. Webinar may be cancelled due to lack of enrolment or unavoidable factors. Registrants will be notified 24hours in advance if a cancellation occurs. Substitutions can happen any time. On-Demand Recording purchases will not be refunded as it is available for immediate streaming. However if you are not able to view the webinar or you have any concern about the content of the webinar please contact us at below email or by call mentioning your feedback for resolution of the matter. We respect feedback/opinions of our customers which enables us to improve our products and services. To contact us please email [email protected] call +1-888-717-2436 (Toll Free).
