New Accounts Series: Opening Accounts for Nonresident Aliens

New Account Fraud (NAF) continues to be a highly lucrative business. Among other fraud MOs, fraudsters are creating mule accounts for money laundering purposes and creating BNPL accounts to buy now and NOT pay later. Join our upcoming panel discussion webinar to understand some of the reasons behind why it’s a lucrative business, and how behavioral biometrics can help combat new account fraud while supporting your account acquisition goals.

Your institution has a common law right to setoff a depositor’s account for a debt owed to your institution – if certain legal requirements are satisfied. In addition, your institution may have a contractual right of setoff – depending on the terms of your deposit contracts. If a debtor defaults on a loan, when can your institution apply money from the debtor’s account to pay the loan? Does the debtor have to be notified beforehand? What if the debtor’s account has a joint owner? If your institution receives a garnishment from another creditor, can you setoff before honoring the garnishment? This webinar will answer these questions and more. Join us to learn the legal requirements that must be satisfied and the steps required before exercising the right of setoff.

With special guest Steve Hemsley, Tim and James discuss the advent of banks moving into the accounting space. This could be a game changer for commercial and corporate banking, a real area for Banking-as-a-Service to grow from infancy to the industry standard.

Even though payment is the last step in the procure-to-pay (P2P) process, many would argue that it’s the most crucial one. By streamlining payments and implementing proper Net terms management, businesses that are matched with the right technology and proper working capital strategy can reap substantial benefits. In this webinar, you’ll discover how your business can optimize payments and other P2P processes to unlock working capital, reduce costs and build a more resilient supply chain.