NRAs & Foreign Individuals
Capitalize on the significant deposit opportunities presented by Non-Resident Aliens (NRAs) and Foreign Individuals, with estimates ranging from hundreds of billions to one trillion dollars. By catering to this market, financial institutions can fuel their growth and contribute to the economic vitality of the nation.
Why Serve NRAs and Foreign Individuals?
Capture the untapped potential of serving NRAs and Foreign Individuals in your own backyard. By providing tailored financial services to this diverse segment, financial institutions can attract substantial deposits, expand their customer base, and drive growth in the domestic market.
Enhanced Deposit Base
Tap into substantial deposit potential from NRAs and Foreign Individuals in the US
Diversified Revenue Streams
Expand income opportunities by serving this diverse client segment within the US market
Build strong relationships with NRAs and Foreign Individuals, fostering long-term client loyalty
Expand Market Reach
Unlock untapped growth potential by serving a market that is often underserved in the US
Access New Lending Markets
Tap into underserved lending market, driving growth through financing opportunities
Promote financial inclusion by offering banking services to US based NRAs and Foreign Individuals
Estimated dollar amount of NRA deposits in the US Banking System per the FFIEC
Number of unbanked
and underbanked individuals in the US per the FDIC
Common Categories of NRAs and Foreign Individuals
Green Card Holders
The Tools You Need to Make Compliance Easy
Our comprehensive tools and expertise assist financial institutions in efficiently addressing the unique BSA/AML demands posed by providing financial services to NRAs and Foreign Individuals, enabling you to stay compliant without unnecessary headaches.
Streamline the assessment of NRAs and Foreign Individuals against your FI's requirements with RiskScout's application. Gain critical insights to make informed relationship decisions, overcoming language barriers with our translation capabilities.
Automate Recurring Due Diligence Collections
Eliminate the manual burden of recurring due diligence data collection with RiskScout's Checkpoints. Gather updated information effortlessly from your NRA and Foreign Individuals clients, ensuring compliance with KYC and EDD requirements.
Effortless Review Tracking
Eliminate reliance on calendar reminders and spreadsheets with RiskScout's EDD review scheduling tool. Streamline your processes by documenting reviews directly within the platform using pre-built NRA and Foreign Individual specific review templates.
Stay informed and at ease with RiskScout's continuous monitoring of NRAs and Foreign Individuals. Detect adverse media, bankruptcies, watchlist hits, and more, ensuring you're always in the know about any changes with your clients.
Request Free Advisory Session or Demo
We love to talk new markets and compliance. Contact us for a free advisory session or demo.