Business Staff-Led Account Opening for New Applicants

Currently, we do not support non-profit business types in Business Staff-Led Account Opening. If the business is a non-profit, staff members should use the Send to applicant option in step 1 and have the applicant complete the application online.

To open an account with Staff-Led Account Opening for a new business applicant:

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 No to continue through this new applicant flow. If you select Yes, you will be taken to the existing business 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, Applicant email, and Business name (optional). 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. Pre-KYB

The pre-KYB step appears, and it includes 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 Eligibility, 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. Eligibility (configurable and optional)

This section does not affect the applicant's ability to proceed with the application, but provides information about the applicant to your institution. Please contact your Narmi Relationship Manager to customize these questions. For more information, go to Eligibility Questions.

c. Business Information (required)

Select the business type:

• Sole proprietor – For independent businesses where the user has not registered their business with the state, and they're the only owner. This includes Doing Business As (DBAs) or non-DBAs.

• Limited liability company (LLC), General partnership, or Corporation – For businesses or companies that have registered with the state. They have certified documents, and their business may have more owners than just them.

For sole proprietors, select yes or no to “Is the business registered as a DBA?”

Depending on the business type selected, appropriate fields appear for Applicant details (for Sole proprietors) or Contact details and Business details (for LLCs, General partnerships, and Corporations). This information will be sent to Alloy to run KYB. Scroll below the image to view details on available fields.

d. Ownership

The ownership section does not appear for sole proprietors. Enter the primary applicant’s details and additional stakeholder details. Scroll below the image to see details on available fields.

Enter the primary applicant’s details in the following fields:

• Applicant Type – Select one or more of the following roles:

  • Beneficial owner / Partner – Beneficial owners must own 25% or more of the business.

  • Control person – This role has the ability to control, manage, or direct the business. To comply with Bank Secrecy Act (BSA) regulations, there must be at least one control person indicated to proceed with the application.

  • Authorized signer – This role is legally permitted to spend monies on behalf of the business. Primary business applicants must be an authorized signer, so this is pre-selected for the primary business applicant.

• First name and Last name

• Social Security Number/ITIN (Individual Taxpayer Identification Number) — This is required to verify the applicant’s identity.

• Ownership percentage (optional) – Percentage of ownership in the business. This field is available only if Beneficial owner is selected as the Applicant Type.

• Role – If your institution would like to enable the Role field, go to Narmi Command > Configurations > Institution settings > Ask additional fields > Business Account Opening tab > turn on Role toggle.

• Date of birth (mm/dd/yyyy)

• 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 addresses via Digital Banking or by contacting your institution.

• Phone number

• Residential address – The Mailing address is the same as my physical address box is selected by default. Clear the box to open a form where you can enter a different mailing address.

Select Add another applicant to add each additional stakeholder.

Select Save to continue.

e. Documentation (required)

You can customize the document type, number of documents, document names, and description text shown in the “Documentation” section by contacting your Narmi Relationship Manager.

Note: Only one file can be uploaded per document, so if there are multiple files—such as two PDFs—the applicant must combine them into one file. The maximum file size is 2.5 MB.

By default, the documents by business type are:

• LLC – Two documents, one required and one optional; default names are "Articles of Organization" (required) and "EIN Verification Letter" (optional)

• General Partnership – One document is required; the default name is "Business Registration"

• Corporation – One document is required; the default name is "Business Registration"

• Sole Proprietor (DBA) – One document is required; the default name is "DBA Certificate"

• Sole Proprietor (not a DBA) – No documents required

After application submission, your staff can view these documents in Narmi Command under Applications.

After uploading, select Save.

e. 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; however, staff members can select other product types and open them simultaneously.

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.

f. 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.

g. 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.

h. 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.

i. 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.

3. 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 applicants:

• 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.