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Discussion Boards > Remote Deposit Capture Discussions > Mobile RDC & More: Minimizing Risk AND Acing Your Audit Q&A View modes: 
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Lui King - 6/5/2014 9:52:20 AM
   
Mobile RDC & More: Minimizing Risk AND Acing Your Audit Q&A
Continue the discussion from our recent webinar “Mobile RDC & More: Minimizing Risk AND Acing Your Audit”. Ask questions and participate in the discussion here. Together, as an industry, we can share knowledge, provide better services and improve risk management.

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keschuh - 6/5/2014 2:58:41 PM
   
RE:Mobile RDC & More: Minimizing Risk AND Acing Your Audit Q&A
I was wondering, when completing Annual Audits, do you drive to your customers, or do you complete the audit via email/phone?

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harpsingh777 - 6/5/2014 3:00:36 PM
   
3rd party cheques
  • Time to time, our Canadian FI experiences 3rd party cheques being deposited via mobile capture. We typically place the cheque on hold for 90 days and advise our Member not to deposit cheques that are not in their names. Can you tell me more about the “Indemnification agreement”? What do institutions do in the US in this scenario? Would you be willing to share a copy of the agreement?

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Brett Miller - 6/6/2014 9:39:00 AM
   
RE:Mobile RDC & More: Minimizing Risk AND Acing Your Audit Q&A
Good Morning,

We perform a combination of site visits and phone assessments at this time.  However, this is a process we continually evaluate.

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Brett Miller - 6/6/2014 9:41:59 AM
   
RE:3rd party cheques
Good Morning,

Although I can't share the agreement, its intent is to place any liability arising from the deposit of third party checks back on the merchant.  Knowing your customer is really key in this scenerio.

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harpsingh777 - 6/6/2014 12:14:01 PM
   
RE:3rd party cheques
Thanks Brett.

Is there a process that happens where the funds are placed on hold for a certain period of time? Is the other institution notified ?  What if the person closes their account a week later and leaves the state ?


Recent Forum Posts

RE:Alternatives to in person site vists

We only do sites visits for high risk cusotmers based on an internal scoring methodology.  New clients that have been onboarded within the current year are visited but a drive by is sufficient.  We share best practices with the client as part of the annual audit and this can be done vir...
Posted on 1/5/2021 4:09:25 PM


RE:Alternatives to in person site vists

We are currently using a visual review of the stores. We need to have certain disclosures, CFPB information etc. to be visible by state. The merchant (agent) is required to complete a questionaire wiht our staff prior.
Posted on 1/5/2021 3:19:35 PM


RE:Alternatives to in person site vists

We have some data on what the industry has done regarding site visits... Look for an article later this month!
Posted on 1/5/2021 1:50:53 PM