How does one verify the identity of a person enrolling in internet banking servies? This would be a service provided for current customers only. Are we required to get a signature to verify against a signature card? If not, what is the process you do to verify identification of customers who enroll?

This might be a discussion that should be limited to the private forums.

Specific bank procedures might be a private discussion, but general practices can be discussed.

At my old bank, account to account transfers intra-bank were always good, but when money could move out of the bank, the customer came in and signed an agreement. This was risk reduction because our risk increased. I'm not sure if the bank still does that.

If you want to do it online, phone, etc. your risk level increases greatly. Still, there are things you should know about the customer based on your records and info in your files, that the customer should know and be able to answer. That is one way to verify ID.

Is a signature required? No, but do you want one to add validity to your new agreement? I would. It could be a wet or an e-signature. ID verification is important is each case and I'd always be the pessimist and ask why they couldn't come in, and if I wanted to send an agreement for a traditional wet signature that I could better verify. Reg E disclosures may also be required as you have a new service.

So, what is your appetite for risk?