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Startup borrowed from Finance Co. and granted a security interest in its operating deposit account at Local Bank and its securities account at Broker. Finance Co. filed a financing statement describing both accounts. For the deposit account, Local Bank signed an agreement with Startup and Finance Co. providing that Local Bank would follow Finance Co.'s instructions about funds in the account without further consent from Startup. Finance Co. did not become Local Bank's customer. For the securities account, Broker signed an agreement stating that Broker would comply with Finance Co.'s entitlement orders regarding the account without further consent from Startup.
Startup later defaulted and argues that Finance Co. perfected neither interest because it did not take possession of the accounts and did not become the customer or account holder. Finance Co. argues that filing was enough, or alternatively that the control agreements perfected both interests.
Discuss whether Finance Co. perfected its security interests in the deposit account and securities account, and identify the relevant method of perfection for each.