Business Staff-Led Account Opening for Existing Businesses

To open an account with Staff-Led Account Opening for an existing business user:

Navigate to a New Application

From the Narmi Command sidebar, select Account opening > Applications, and then select New application.

If your institution has consumer and business staff-led enabled, choose Business on the dialog that appears.

1. Basic Info

On the page that appears, two questions determine the applicant flow. These questions are not configurable by your institution:

• Does the business already have a business account with [your institution]? – Select Yes to continue this existing business flow. If you select No, you will be taken to the new user flow.

• Is this business a sole-prop without an EIN? – If you select Yes, an Applicant SSN field is provided instead of EIN. If you select No, you can continue with EIN.

Enter the EIN/SSN and the Applicant’s email. This email should be the business email, not the owner/stakeholder’s email. Select Next.

You can always select Cancel to delete the application or Finish later to save your progress and continue later. For instructions, go to Continue a Staff-Led Application.

Select Send to applicant to send an email allowing the applicant to continue their application themselves.

2. Confirm Account Details

If the existing business is found, confirm details with the applicant and select Next.

3. Pre-KYB

The pre-KYB step appears with several possible sections. Select each section to expand its options. You can complete these sections in any order. After completing each section, select Save. Once saved, it updates from "Incomplete" to "Complete."

Note: All sections except Account activity and Notes must be completed to run KYB.

The pre-KYB sections are:

a. Application Tracking (configurable)

Select your Branch location from the menu. For instructions on configuring the locations, go to Configure Staff-Led Branch Locations. If the applicant has a referral code, enter it in the Referral code field. You can enable this field in Narmi Command under Configurations > Institution settings > DAO Staff-Led Enable Referral Code > Enable referral codes in BAO staff-led = true

Fields to Write in Metadata

Any additional information that your institution would like to capture can be added to the Fields to write in Metadata portion of the Application Tracking section. For example, your credit union can capture SEG code information for credit union members by configuring a list of SEG codes, Branches, and Branch Users for this portion. This information is captured in the Metadata section of the application view and this data can only be written to Symitar cores. If your institution is on the Symitar core, we can set up a Narmi Function to write this information to the Symitar core. Please contact your Narmi Relationship Manager to set this up.
Note: Once metadata is configured, you must complete Fields to write in Metadata in the Application tracking section in order to run KYB.

To configure the metadata, go to Narmi Command and add a key name under Configurations > Institution Settings > Allowed URL parameters, for example branch_number.

Then, under Configurations > Institution Settings > Staff-Led AO - Metadata Fields, add the values associated with that key name to be displayed in the staff-led flow. The key_name field must match exactly what was entered in the Allowed URL parameters setting, in this example, branch_number.

b. Authorized Signers

For sole proprietors, these fields are auto-populated with the owner’s information on file. If there are multiple owners, the auto-populated information is taken from the applicant with the email address entered in step 1.

Select Add an authorized signer to add additional signers. Enter information in the following fields:

Applicant details:

• First name and Last name

• Social Security Number or ITIN (Individual Taxpayer Identification Number)

• Date of birth (MM/DD/YYYY)

• Role

• Email – This is auto-populated based on the email address entered in step 1 and cannot be changed once verified. We encourage applicants to update their email address via Digital Banking or by contacting your institution.

• Phone number

• Physical address – The residential address

• Mailing address – Your institution can opt to have the mailing address separate from the residential address. This is configured in Configurations > Institution settings > Has Mailing Address. This adds a Mailing address is the same as your residential address box, which is selected by default if added. Clearing the box opens a form to enter a different mailing address.
  Note: Different mailing and residential addresses are only supported on the following cores: Symitar, IBS, DNA, Corelation, Silverlake, and Enterprise Service Bus (ESB).
  If you would like to allow applicants to use P.O. boxes for mailing addresses, you can enable this in Configurations > Institution settings > Edit Allow P.O. boxes as mailing addresses for Digital Account Opening (DAO). Note: Support for P.O. boxes differs depending on your core and how it is configured. Please contact your Narmi Implementation Manager for more information.

Select Save to continue.

c. Account selection (required)

Select the accounts the applicant wants to open from your institution’s product offerings, such as Checking, Savings, Certificates of Deposit, etc. To customize the product offerings at your institution, use Product List Manager in Narmi Command. Once you add business products, they apply to both business online and staff-led flows.

Applicants can only open one checking account per application, but staff members can select other product types and open them at the same time.

Required products are automatically pre-selected in account selection. You can choose to deselect the required product, then select Yes, confirm deselection on the dialog that appears.

d. Funding (required)

Use this section to enter the customer's funding information.

Available options are:

• Skip funding – Select this option to skip funding

• Submit cash/check – Select this option when the applicant is using cash or a check to fund the account. Applicants can submit separate amounts for each product. Note: Funding limits do not apply to the Submit cash/check option. It is only for tracking purposes and does not trigger funding on the platform.

• Link an external bank account – Select this option to fund with a bank account. Enter the routing and account numbers, and select the Account type—Checking or Savings. External account numbers are limited to 17 characters.

• Use a credit/debit card – Select this option to fund with a debit or credit card, and enter the card information
  

Enter funding amounts for each account. Amounts must be entered in $0.25 increments.

Select Save.

e. Disclosures (required)

Use this section to record electronic disclosure consent. You can set up specific disclosures by product, which are shown depending on which products are selected. This is customizable via Institution settings > Disclosures. (This setting supports Markdown. Go to Markdown Guide for assistance with basic syntax.) You can also set up specific disclosures by product, which are also shown depending on which products are selected. To configure, go to Product-Specific Disclosures.

Select Send to applicant to send an email to the applicant that includes a link to the disclosures. You can customize this email in Narmi Command under Configurations > Institution settings > Staff-Led Disclosures Email Template. A confirmation message also appears on-screen with a link to the disclosures, which is helpful when testing in your institution's UAT environment.

Select Preview disclosures to see how the disclosures will appear to the applicant.

Date/time stamps appear in the Disclosures section when sent to the applicant and when they accept. You can resend the email if the disclosures aren't accepted by selecting Resend to applicant.

You must select the box confirming you received the signed disclosures in order to open the account.

f. Account activity (optional)

This section contains customer due diligence questions for the applicant to answer, allowing you to capture the applicant’s intended usage of their accounts and help build a risk profile for the account and applicant. You can configure these questions (which can be yes/no, open input, or dropdown) in Narmi Command under Customer Due Diligence Business Staff-led Questions. For more information, go to Account Activity Questions. These questions can also be product-specific, depending on which product(s) are selected in the Account selection section. Go to Product-Specific Account Activity Questions for details.

g. Notes (optional)

Enter optional notes in this section. These notes will be saved in the application.

After entering the required information, select Run KYB. A confirmation message appears. Select Yes, run KYB to confirm.

Note: Once KYB is run, you cannot edit personal details or rerun without incurring a fee.

4. KYB

The KYB step appears, showing separate sections for the application and each applicant. The following information displays for the application section:

• Application state – The status of the application. Go to Application Statuses for a complete list.

• Alloy outcome – The Alloy decision based on data retrieved about the applicant, either “Approved,” “Denied,” or “Manual Review.” If the Alloy outcome is “Denied” or “Manual Review,” an informational banner appears, prompting your staff to select View in Alloy to review and action the application in Alloy. This applies to both Alloy Groups and Journeys application types.

• Alloy record – The link to the full identity evaluation decision in the Alloy Platform. For more information on Alloy and the identity decisioning process, see About Identity Decisioning.

The following information displays for the individual authorized signers:

• Status – The KYB status; if the status is "Approved," you'll have the option to Continue. If the status is "Manual Review" or "Rejected," you can edit the application by selecting Back > Yes, edit. Once you edit the application, you will be required to run KYB again.

• Tags returned – These are identity evaluation tags or criteria that the applicant and business met when they were evaluated in Alloy, for example, Business Name Matched, Address Matched, KYC DOB Match, KYC SSN Match, Phone Match

• Alloy record – The link to the full identity evaluation decision in the Alloy Platform. For more information on Alloy and the identity decisioning process, see About Identity Decisioning.

Select Finish application.

Open Account

A confirmation message appears when the account is opened successfully, which displays the Member number (if applicable), Core User ID, account number, and routing number.

A confirmation email is sent to the email address associated with the account.

If your institution uses Narmi for Online Banking, users can enroll in online banking using a link in the email.

Select View applications to return to the Applications list.