Most Popular Operations Content
Auditing the Positive Pay process
02/02/2025
I have been in our bank's treasury department for many years and never been part of, or seen, a Positive Pay audit. Our new auditor wants to put an audit process in place for it. What would be the compliance reason to perform an audit on Positive Pay?
Improving Detection of Deposit Fraud
02/02/2025
We are a [redacted vendor name] bank using [redacted vendor name] AML software. We have noted an increase in small check fraud between $100.00 and $5,000.00 at our teller stations and ATM deposits. Currently, with manual reports worked daily and certain alerts within our software, we are able to catch the larger dollar amounts in check fraud. We want to know if any banks using the same software know of anything that could help us catch more of these smaller amounts in attempts to reduce loss, whether it be manual reports through our vendor, reports in [redacted], or parameters that can be changed in our vendor software.
Lockbox services and accelerated cash flow
02/02/2025
How can lockbox services support accelerated cash flow for business customers?
Benefits of two-way document exchange with account holders
01/26/2025
Why enable a two-way electronic exchange of documents with account holders?
Revocable and irrevocable trusts and EINs
01/26/2025
I have two questions about accounts for trusts. Does the account title of a revocable trust need to change when the trust becomes irrevocable? If a customer had an EIN for a revocable trust prior to her death, can that EIN continue to be used now, since the trust became irrevocable after her death, or must the new trustee(s) apply for a new EIN?