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#350569 - 04/22/05 09:57 PM Internet Banking Question

Our process for signing customers up for internet banking with free bill pay has been questioned as being too labor intensive by bank management.
Basically they go to our website and they print a single page, sign it and mail it to the bank or drop it off. Once we receive this authorization and check the signatures we turn their access on, usually same day.
On the interet itself there are all the disclosures for the system and charges. These pages can be printed and retained by the customer, but they are subject to change. However this one page signature is just proof that they agreed to the disclosure information and proof that we have proper authorization to turn on the internet to allow access to features like bill pay.
What I am looking for is samples of how other banks make this an easier process for their customers or if you even think we don't need it.
Do you use digitial signatures? Do you use a key codes? Do you just turn on access for the users if they click on the agreement for access and never verify signatures.
We have been doing this for three years and now we have a complaint and we want to make sweeping changes, but I want to protect the bank at the same time.
Our thought was to move this agreement to the signature card, but that covers new accounts, what about existing customers who want this free bill pay access now and we are shipping their money all over the place.
Any tips would be appreciated.

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eBanking / Technology
#350570 - 04/22/05 11:31 PM Re: Internet Banking Question
Andy_Z Offline
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We had a signature and often did a telephone follow up to confirm that money was going to be able to be transferred out and everyone knew it and understood this. Passwords were secret, etc.
My opinions are not necessarily my employers.
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#350571 - 04/23/05 01:55 AM Re: Internet Banking Question
JavaBanker Offline
Joined: Jan 2003
Posts: 54
They way you started your situation, I almost thought you were from my bank. We often like to have very tight controls on new products so we get things right. As a matter of fact, your situation sounds alot like what we do.

We only allow customers to use our online banking. Therefore, they can register online, but we have them stop in any branch and sign an authorizaiton that allows them to identify the accounts they want to link. It also gives us the opportunity to re-disclose and make sure they are who they say they are. After this is done, we send it to one person who links them.

We are looking to change things in the near future. The overall process wont change for the customer. However, we will be linking them on the spot after they sign our authorization at the branch. We believe, as a small bank, we want to show the importance that we place on our security of this service. By the way, once they are a registered user of our online banking, they sign up for the bill pay online. We approve still but they don't come in the branch.

Good luck with your upcoming change.

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#350572 - 04/26/05 08:17 PM Re: Internet Banking Question
Joined: Feb 2004
Posts: 67
We have the customer fill out a request form on the internet from our website. That produces a form here, we enable them and mail them (to the address on our system) a usercode and password (that the system generated) and they change their password to their own choosing at that time. It has worked quite well.

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#350573 - 04/29/05 01:56 PM Re: Internet Banking Question

We have our form available for download on our internet website. Customers fill the form out and bring it by the main bank. We sign them up after verifying account access. We use two seperate controls. I enroll the customer then give another employee the document and they double check my work.

Meanwhile, I e-mail them their UserID and snail mail them their Password. While ensuring that both cannot be attained through control of one form of delivery, it also gives the other employee time to verify that the customer has access to the accounts I have placed on his/her online banking account.

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