Management considering offering our credit cards online. Still in the early stages deciding if it will all be online, or just the application where they have to print, sign, and mail in. Done some searching on BOL, but haven't seen too much recently on this. Curious as to what others are doing. We do our own credit cards - they are NOT outsourced to Elan, MBNA, etc. I think they first need to do a risk assessment, but here are some of the questions I'm looking into...

1. If you are offering for credit cards and/or consumer loans, are you doing print and sign, or entirely electronic?

2. Just for customers or non-customers as well?

3. Limiting it to people who reside in your state (or counties you serve, etc.)?

4. How have you decided to handle CIP? Copies of ID required? Just verifying info on applicaiton to credit report? ???

5. Have you had an increase in fraud issues with the online apps?

6. Any other input?

Thank you in advance for your input!

bump

We are moving from a print and mail to a full online application. It was just announced to be rolled out in a couple of weeks (with little input from several relevant parties of course) and I've got some of the same questions as above.

Specifically, 2/4 and 5. Additionally, the collections team is wondering if the "I, (primary applicant name), agree to the terms, conditions and disclosures of this request as the Primary Applicant." Is going to hold up in court if we are in a situation where we need to file against a card holder. I have my doubts, they still seem to want original paper copies for notes and everything so this seems a bit risky.

Would we not need to go through the e-sign process [i]prior[/p] to their application being submitted if we wanted this to be considered a "signature"?

I'm not well versed enough on e-sign requirements yet, but apparently they want to roll out other loan types in the near future, so I better get up to speed quick!