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Department of Banking and Securities Launches New Web Portal for Professionals, Businesses

11/17/2021

Harrisburg, PA - The Department of Banking and Securities today announced the launch of a new online DoBS Portal to serve the professionals, institutions, and businesses regulated by the agency.

The portal replaces several legacy systems and provides a more efficient, cost-effective, sustainable, and secure digital process to file many of the applications, forms, and supplemental documentation previously submitted in paper form

The department is implementing a phased roll-out of the system.

“The first phase of implementation encompassed non-depository licensees from the motor vehicle industry which are licensed under the Consumer Credit Code. Over 4,000 motor vehicle licensees joined the Portal and then completed their annual license renewal,” Tim Knopp, Deputy Secretary for Non-Depository Institutions said. “The first-ever Portal renewal was an overwhelming success with the industry praising its ease of use.”

Non-depository licensees that currently use NMLS for their licensing functions will continue to do so, while using the department’s portal for all non-licensing functions, such as examinations and compliance.

The second phase of the process is currently underway and impacts certain securities registrants.

“Licensees and registrants can expect direct correspondence from their program area on how the portal will serve their specific industry, license, or registration type, as well as next steps to take,” said Eric Pistilli, Acting Deputy Secretary for Securities. “Investment professionals who currently register through the Central Registration Depository (CRD) will continue to do so.”

The functions of the system will differ based on industry, license, and registration type.

Some of the benefits include:

  • Increased efficiency. Both the user and department staff can track all documentation and online payments. Automated notices, web-based questionnaires, and ability to securely upload examination materials allows streamlined communication.

  • Security protections. The use of Keystone Login – a secure, single user credential used to log in to multiple online commonwealth services – is required to access the new system. Keystone Login uses advanced authentication tools to prevent unauthorized access and protect personal data. The portal is also fully encrypted to enable secure submission of and access to information.

  • Realized cost savings. Going paperless eliminates costs required to overnight large application packages to the department, as well as potential delays caused by those shipments, including printing of paper documents and maintaining physical files.

  • Environmental sustainability. Requiring fewer paper forms, documents, and checks reduces paper waste and the environmental impact of that waste.

  • Convenient online payments. The portal will eliminate the use of paper checks for certain payment to the department, providing instead quick, convenient digital payment.  

The department is actively reaching out to our regulated entities as we reach each stage of this phased roll out.

“We anticipate transitioning state-chartered banks, credit unions, and trust companies to the system closer to the end of the year,” said Wendy Spicher, Deputy Secretary for Depository Institutions. “Future communication and personal outreach are forthcoming from our staff as the phase of the portal rollout impacting depository institutions approaches.”

The portal demonstrates the department’s commitment to Lean practices and incorporates key components of the governor’s Customer Service Transformation initiative meant to serve citizens of the commonwealth through easy-to-use services and support. 

“Every person who has worked on this large-scale modernization project – from the IT staff, programmers, developers, and the numerous members of department staff who have been verifying the data and testing its functionality – deserves our recognition and gratitude,” said Mary Beth Stringent, Deputy Secretary for Administration.

More information, including FAQs, user guides, and who to contact with questions, visit the DoBS Portal Resources page.

MEDIA CONTACT: Virginia Lucy - 717.214.6036, DoBSComm@PA.gov

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