Overview: 1Click Offers

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

Additional Resources

About this Feature

Looking for ways to expand your loan portfolio?  The 1Click Credit Card 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 credit card accounts to targeted members via It’s Me 247 desktop and mobile banking.  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 “yes, I want this credit card,” members will see a new loan in their account list, and can start using the funds instantly!

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 at https://store.cuanswers.com/product/one-click-loans/

Define Your File of Members to Receive the Offer

1Click Offers are just that, offers that members can accept with one click.  They are not applications. Once the offer is made, it can only be withdrawn by using the LOS loan queue (Tool #2) and deleting one individual offer at a time.  

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 work from this list, 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

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.  The batch flood allows you to enter your table name, select a loan product code, and enter a disbursement limit. (Only Product Codes of Process Type V are allowed.)  You can also elect to show a banner ad in online banking. 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 online and mobile banking.  If a banner ad was selected, the online banking users will see the ad at the top of their account summary screen.  Regardless of the manner they access their accounts (It’s Me 247 or Mobile Banking), members will see the offer in the credit cards area of the Account Summary page.

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 Account Summary page.  If the member elects to decline the offer, it will be removed from the Account Summary page. The member can also elect to wait to decide, in which case the offer remains for them to select it at a later time.

It is important to note that the member does not immediately receive a credit card. The procedure for ordering of the plastic remains unchanged and done manually by staff. Additionally, 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, a card would also need to be ordered for the member.  Other credit union policies and procedures, such as sending of forms would also need to be followed.  (When the member accepts the 1Click Offer, the banner add does display some disclosure text, but forms are not automatically disbursed when the offer is accepted.)

Reporting

There are several ways you can identify credit cards offers and accounts that are initiated with the 1Click Offers feature.  First of all, as mentioned earlier in the section covering the flood, 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 credit card offer was initiated with 1Click Offers and that a subsequent credit card account was opened.  Refer to this section of the booklet for more information.  Learn more about the reports in the 1Click Offers (My Loans/My Way) booklet

 

 

 

Link to ID: https://help.cubase.org/cubase/cubase.htm#Overview_1Click_Offers.htm