How Do we CIP New Internet Banking Customers?

Question:

We're officially looking to begin internet banking... finally. We're a small, one location bank. My initial question is this - how can we sign up new customers from across the state (or nation) under CIP?

Answer:

You'll need to use non-documentary verification methods such as credit reports, contacting the customer (mail them a letter after the account is opened), checking credit references with other banks, etc.

First published on BankersOnline.com 08/15/05