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Online Commercial Access Concerns

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Question: 
Are there any special considerations or concerns involved in making online banking available to commercial customers? How do you limit access among the commercial customer's employees? How do you know for sure that someone has authority to transfer funds?
Answer: 

You don't. You can offer Internet banking to commercial customers, but offering bill pay features should be done with the utmost of caution. While you can restrict access with user ID's and passwords, you cannot control how the businesses employees exchange them. Similar to offering a commercial customer a debit card, you open yourself to liability. It is a business decision on your part to decide if it is worth it.

First published on BankersOnline.com 5/7/01

First published on 05/07/2001

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