Playing by the Rules: Maintaining Compliance Without Sacrificing Deposit Growth 

The materials available in this article are for informational purposes only and not for the purpose of providing legal advice. You should contact your own advisors with questions regarding the digital account opening content herein. The opinions expressed in this article are the opinions of the individual authors and may not reflect the opinions of MeridianLink, Inc.      

Compliance can be a tricky road to navigate, filled with evolving rules and regulations. While federal regulators have hit the pause button on many new regulations, states are stepping up their game with fresh laws that add complexity to deposit account compliance. At the same time, growing your deposit base remains a top priority. So how do you keep one eye on compliance without losing momentum on growth? 

The answer lies in strategic thinking and leveraging innovations in digital account opening technology that simplify compliance while delivering a smooth customer experience.  

What do you need to know about deposit account regulations?  

• Federal regulations have slowed, but they still matter. 
  While new federal rules are scarce, existing laws like Regulation DD (Truth in Savings) and BSA/AML requirements continue to govern deposit accounts and must be closely followed. 
• State laws are filling the gap. 
  States are actively introducing data privacy laws, consumer protection measures, and stricter debt collection rules. These new requirements often affect how deposit accounts are opened, maintained, and managed. 
• Data privacy is front and center. 
  Many states are following California’s lead with CCPA/CPRA-style rules that mandate disclosures and protect consumer data—meaning deposit account data handling must be airtight. 
• Consumer protection enforcement is intensifying. 
  Regulators at the state level are cracking down on unfair or deceptive practices in deposit account marketing, fee disclosures, and customer communications. 

How can digital account opening technology help you achieve compliant deposit growth?   

Modern digital account opening solutions have become essential tools for managing compliance efficiently. By embedding regulatory safeguards directly into the onboarding process, they help your team consistently meet requirements without adding friction to the consumer experience. 

Look for these essential features in your own account opening tech: 

• Automated workflows that capture the right data. Customizable rules guide your team to collect all necessary deposit account information, minimizing errors and regulatory gaps. 

• Advanced AI and machine learning capabilities. These technologies identify hidden patterns and anomalies, enabling rapid data extraction, faster and more accurate reviews, and quick-turn risk assessments based on cross-referencing account data with contracts and internal policies. 

• Seamless delivery of required disclosures. Automating Truth in Savings notices, privacy disclosures, and other mandated documents keeps consumers informed and supports regulatory compliance. 

• Configurable checks for state-specific compliance. Flexible forms and workflows adapt quickly to evolving local laws, without expensive system overhauls. 

• Built-in fraud and risk detection. Real-time fraud scrubbing and suspicious activity monitoring flag risks before accounts are funded. 

• Third-party integrations for enhanced compliance. Connections to specialized vendors enable AML screening, OFAC checks, and more—all without adding manual steps. 

• Support that scales with your compliance program. These tools complement your existing systems by providing documentation and audit trails essential for regulatory exams. 

• Ongoing updates and best practice guidance. Continuous compliance support and education help your institution stay current with changing regulations. 

Of course, these aren’t a replacement for oversight. Regular back testing, including exposure to nuanced, context-heavy scenarios, helps ensure these tools remain aligned with regulatory standards and your internal compliance strategy. 

How can pricing models protect both compliance and profitability? 

Legacy deposit strategies that rely on uniform rates can inadvertently create long-term risks. Short-term promotional rates may attract new accounts, but these accounts may lack loyalty, leaving margins vulnerable over time. 

Risk-sensitive pricing models offer a strategic, data-driven solution. By tailoring deposit rates based on a consumer’s behavior, account history, and long-term value potential, you can keep growth initiatives aligned with regulatory requirements while protecting profitability. 

For example, a customer with a steadily growing savings account can be encouraged to deepen their relationship through targeted, risk-sensitive rates tailored to their behavior and value. This turns a basic deposit account into a loyal, long-term relationship that drives sustained profitability. 

This strategy isn’t about arbitrary rate changes. It’s about applying a strategic, data-driven pricing model that adapts to your portfolio’s unique risk and opportunity profile, all while ensuring regulatory compliance. 

When combined with the digital account opening features outlined above, this approach becomes even more impactful—providing real-time insights and automated precision that help you optimize pricing, enhance compliance, and drive growth seamlessly. 

Compliance can be complex and constantly evolving, but it doesn’t have to hinder deposit growth. 

With the right approach and investment in modern digital account opening solutions, compliance and growth can be mutually reinforced. 

Automated identity verification, real-time risk scoring, and sophisticated fraud detection not only ensure regulatory adherence—they also speed up the onboarding process. The result? A smoother, more secure experience that helps more applications cross the finish line. 

And instead of tying up your internal teams trying to build something from scratch, you can tap into proven technology that gets up and running faster and costs less. It’s a smart move that saves time and money while delivering solid returns.  

Get More Deposit Growth & Compliance Insights 

Learn more about how compliance and technology intersect with deposit growth in the Strategic Deposit Growth eBook.