Non-Deposit Investment Sales Practices

 

Non-Deposit Investment Products (NDIP) Mystery Shopping

 

The sale of bank marketed investment non-deposit investment products (NDIP) is regulated by a number of government and industry regulatory agencies. One of the key purposes of this regulation is to avoid confusion between non-deposit and deposit products.

Kinēsis’ investment sales mystery-shopping program provides clients with detailed information about the investment sales practices, such as:

  • Appropriate referral practices,
  • Content and timing of oral disclosures,
  • Setting and circumstances of the sale,
  • Non-FDIC insurance coverage or guarantees,
  • Level of probing prior to a recommendation,
  • Suitability of recommendations,
  • Signage, and
  • Appropriateness of collateral material.

 

 

Other Compliance Programs

 

Bank Fair Lending Mystery Shops Kinēsis helps financial institutions self test to evaluate fair-lending compliance through the use of mystery shoppers or post-transaction surveys to test for disparate treatment, overt discrimination and other prohibited lending activities.

 

Bank Truth in Savings Mystery Shops Our truth in savings mystery shop program is designed to evaluate the presence, timing and accuracy of annual percentage yield (APY) quotes.

 

Bank Truth in Lending Mystery Shops Kinēsis’ truth in lending mystery shop program evaluates the presence, timing and accuracy of oral and written annual percentage rate (APR) quotes.

 

 

Click here for a blog post describing the positive relationship between compliance and sales effectiveness,:

Compliance and Sales Effectiveness Go Hand In Hand

 

 

“Kinēsis delivers a refreshingly simple and user-friendly web publishing system, backed by a professional and responsive team. The feedback serves as a great training tool and the information has had a great impact on our overall customer service achievements.”

- Kim Piotrowski, Columbia Bank