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.”
Jump to Traditional 1Click Offers | 1Click Unfunded Offers | 1Click Relationship Offers | Reporting and Tracking | Purging
Additional Resources
Don't have the time to configure and manage your 1Click campaigns? Let Lender*VP take care of the work for you with 1Click Autopilot!
About this Feature
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!
Traditional 1Click Offers
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 the core 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 Offers 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 reference guide.
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.
1Click Unfunded Offers
Go to Tool #1045 1Click Unfunded Loan Offers
1Click Unfunded Offers keep the same functionality as Traditional 1Click Offers but differ in a few ways. For example, a member could be pre-approved for an auto loan up to a maximum of $50,000 and included in the offer would be pre-approval details and the name/address of a specific dealership configured by the credit union. Configuring 1Click Unfunded Offers follow the same steps as a Traditional 1Click Offer: Define your file of members to receive the offer, use the batch tool to flood your memberships, then the offers will appear in the 1Click tab of Tool #2 Work/View Loan Application Status.
If a member chooses to accept a 1Click Unfunded Loan Offer, funds are not made immediately available. Instead, the member will receive one or more custom forms that will be presented for e-sign, showing the dealership name and instructions on what to do next. After signing, the member would take the form(s) with them to the dealership for purchase negotiation. A credit union must use Tool #245 Configure Dealer Info for Indirect Lend. to configure preferred dealerships prior to configuring 1Click Unfunded Offers.
NOTE: To utilize 1Click Unfunded Offers, it will require intervention from Lender*VP to set up custom forms. Visit the store page to get started.
These applications will be placed in the loan queue (Tool #2) as a pending 1Click Offer. Once the credit union receives completed paperwork from the dealership, an employee would edit the application to match the closing documents, then book the loan and send funds to the dealership.
1Click Relationship Offers
Go to Tool #1061 Configure Relationship Offers
1Click Relationship Offers utilizes the data-driven power behind CLR Path Decision Advisor to provide your lending team with a streamlined workflow. Instead of having to define a list of members to receive a 1Click Offer, CBX and CLR Path use the data you already own to score members and determine how much they can borrow.
These offers are based on eligibility and work differently than other 1Click Offers that appear in the loan queue. 1Click Relationship Offers are created “on the fly” and are refreshed each time a member clicks “My Offers” in It’s Me 247. At the time a member clicks "My Offers," the system checks the loan block list in addition to checking the number of 1Click Loans (with the same product code) are open across all memberships with the same SSN. If the member is eligible, they will be run through the associated CLR Path program to determine the maximum amount they can borrow.
Loans from 1Click Relationship Offers are created in online banking. These offers will not display in Tool #2 Work/View Loan Application Status until they have been accepted and completed. Only one 1Click Relationship Offer campaign can be active at a time.
NOTE: The "My Offers" module must be configured via CU Publisher. This is a prerequisite for 1Click Relationship Offers. If you need assistance with CU Publisher, contact the IRSC team.
CLR Path Configuration
Go to Overview: CLR Path Decision Advisor
To run a 1Click Relationship Offer campaign, you must first have a CLR Path program template to go with it. It is recommended that a credit union configures a CLR Path program exclusively for 1Click Relationship Offers. Use Tool #1110 Configure CLR Path Criteria to configure a CLR Path program template.
CLR Path program templates evaluate data already in the system such as how long the membership has been open, the member’s age, account balances, loan history, and ACH/payroll deposits. In the configuration, you give points for each criterium and can even give negative points for criterium such as delinquency. Read the CLR Path reference guide to learn more about this feature and how to use it.
Reporting and Tracking
The 1Click Loan Tracking table (ONECLKTRAK) is populated when 1Click Offers are pushed to members, then once again when the member either accepts or declines the offer. The table contains data points such as application number, offer status, product code, and offer number. Additionally, the ONECLKTRAK table will update during events such as an associated loan being paid off, or a membership being closed.
The 1Click Loan Offers table (ONECLKFOFRS) contains information about a credit union's 1Click Offers. This table includes summary stats such as the number of member accounts included in an offer, and the number of accepted or declined offers.
Learn more about the 1Click Offers data points available for reports in the 1Click Offers reference guide.
Purging of 1Click Offers
1Click Offers are purged daily. During end-of-day processing, any unaccepted offer associated with an expiration date in the past will be purged from the LNAP table (file). Accepted offers are not purged.