Overview: 1Click Offers

1Click offers allows you to offer pre-approved, guaranteed loan accounts to targeted members via It’s Me 247 online and mobile banking. Let’s look at how this feature works “in a nutshell.”

Additional Resources

1Click Offers (My Loans/My Way) booklet, 1Click Unfunded Loan Offers

About this Feature

Looking for ways to expand your loan portfolio?  The 1Click Offers approach signals a new marriage between your lending team, smart analytics and computer-closed-loan (no employee needed) lending solutions.

Instead of offering yesterday’s member-generated applications, you can offer pre-approved, guaranteed loan accounts to targeted members via It’s Me 247.  Take away your member’s doubts about borrowing success, and start guaranteeing funding with this smart Internet Retailer approach.  All the member needs to do is click to accept the offer in order for the account to be opened and funds to be available.

There is no application, no credit report pull, and no underwriting.  You just make the offer to members you’ve already qualified.  Then with just a click to say “Accept Offer,” members will see a new loan in their account list, and can start using the funds instantly! Note that if they are required to sign a form, this process will follow, and once the form is signed the funds will be available.

Offers that are accepted by members will appear on the LOS lending queue (Tool #2) on a new tab so that your team can follow up with card orders, paperwork, or any other necessary follow-up tasks.

Interested in assistance with activation?  Check out the CU*Answers Store!

Define Your File of Members to Receive the Offer

The first step in offering 1Click Offers to members is to make a list of members to receive the offers!  This may be started in various places in CU*BASE including the List Generator Tool (Tool #477).  Further refinement may then be done using the Report Builder (Query) tools (Tool #100).  The most important thing to note is that the first column (field) in your table (file) must be the account number.

You might also use a soft pull to determine a group that has credit worthiness, make a list of members who do not have a credit card and use this list for credit card offers, or use other methods to create your file.  Additionally, Asterisk Intelligence has a service to provide enhanced Query assistance, should it be required.

Use the Batch Tool to Flood Your Memberships

IMPORTANT NOTE: Depending on the size of your batch of 1Click Offers, processing times may be extended. Large batches, such as in the thousands, may take up to 10 minutes to process. Please remain on the screen until your batch has completed processing.

Once the file has been created, it is time to flood these memberships with the 1Click Offer.  To flood the memberships, use Tool #1340 Configure 1Click Offers or Tool #1045 Configure 1Click Unfunded Loan Offers.  The batch flood allows you to enter your table name, select a loan product code, enter a disbursement limit and a form if desired. Only loan products with loan categories that allow online disbursements that are process type V (credit card), L (line of credit), or E (closed-end loan) can be used with 1Click Offers.

NOTE: Closed-end loans with 1Click are unsecured loans.

You may also optionally use a form and charge a fee for the 1Click Offer. This fee is taken from a separate account at the time the member accepts the offer and is not included in the loan or credit card balance.

If a closed-end or line of credit loan is configured, you advance to a following screen which allows you to define the rate and number of payments.

A subsequent screen allows you to enter the instructions, the next screen to compose the terms and conditions, and final screen finalizes the flood.

At the time the flood is completed, two reports are printed to the printer of the person who creates the flood: a list of members receiving the offer, and a list of exceptions.  Learn more about the reports in the 1Click Offers (My Loans/My Way) booklet.

Member Views and Accepts Offer

Once the batch flood tool process is completed, your selected members will view the offer in the Member Messages area at the top of their Favorite Accounts page. Remember, these are not applications, they are offers.

If the member elects to accept the offer, they can immediately transfer money into the account. (This is if transfers are allowed by the loan category.)  They will also see the opened account in their Favorite Accounts page.  If the member elects to decline the offer, it will be removed. The member can also elect to wait to decide, in which case the offer remains for them to select it at a later time.

NOTE: If the member accepts a 1Click Unfunded Loan Offer, funds are not immediately available. Instead, accepting the offer will give the member documentation that would show they have been pre-approved for a particular loan, pending confirmation of the purchase and exact dollar amount.

It is important to note that if the loan is a credit card loan, the member does not immediately receive a credit card. The procedure for ordering of the plastic remains unchanged and done manually by staff. If the member wishes to adjust the offer, for example to receive a larger disbursement limit or to add a cosigner, your loan department will need to use standard loan policies and procedures and complete a standard loan application for the member.  (1Click Offers cannot be adjusted.)

Loan Officer Works LOS Loan Queue

From the 1Click tab in the LOS loan queue (Tool #2), loan officers can see the offers available to members.  If desired, they can remove the offer from the queue.  Offers that have not been accepted will have a status of “waiting.”

Once a member has accepted an offer, the status will change to “accepted.” This will alert the loan officer that they need to “complete” the 1Click Offer and move it to the booked area of the LOS lending queue.  At this time, for credit card loans, a card would also need to be ordered for the member.  

Reporting

There are several ways you can identify offers and accounts that are initiated with the 1Click Offers feature.  First of all, two reports are generated when the flood is created, a list of members receiving the offer and a list of exceptions.  Reasons for exceptions are covered in the section on reporting.

Additional column and record changes also indicate that the offer was initiated with 1Click Offers and that a subsequent loan account was opened.  Learn more about the reports in the 1Click Offers (My Loans/My Way) booklet.

Purging of 1Click Offers

Waiting 1Click offers cannot be deleted in batch, but are purged monthly when they are older than 30 days old, However, if an offer is, for example 29 days at the time of the purge, it will be purged in the next monthly purge. For more information on the purging of booked offers and offers in another status, refer to the 1Click Offers booklet.