Overview
The integration with Sync1 allows users to create all applications on the Sync1 system and submit the loan to CU*Base. The application is then ready to book based on the information being entered on Sync1 and submitted to CU*Base. The once the loan is approved, create the loan account and disburse funds. The loans will all be attached to a delivery channel unique to Sync1 to track the applications entered.
Schedule of Tasks
After signing on with Sync1 check out from the store to begin the integration process. CU*Answers will configure the delivery channel for completed applications to be submitted. Sync1 will need to program any products to match what you currently offer in CU*Base.
CU*Answers estimates a 60 days from request to live date, this may vary with Sync1.
Review form generation with Sync1 and CU*Answers additional costs may be included for generating electronic document signing and will vary based on vendor including eDOC Innovations.
Online Banking application process and the delivery to Sync1 LOS in replacement of ItsMe247. One-time setup of $500.00 and $50.00 monthly maintenance. This is optional and will have a stand-alone project request outside of the integration development.
How it Works
Once the integration is live, loan applications will be created on Sync1 and exported to CU*Base. Depending on the information entered from the Sync1 system no additional maintenance should be done on the application once inside CU*Base. The loan officer should only need to create the loan account, and finalize the loan documents and maintenance.
Technical Details
The applications will all come in attached to delivery channel S1, this will allow you to easily identify which loans are coming from Sync1.
This integration is designed to support consumer loan applications being sent from a third-party vendor to CU*BASE. The workflow for membership creation, loan disbursement and other tasks related to CU*BASE loan creation are unchanged. Additional discussion will be needed to determine a workflow for non-member applications, variable rate loans, custom fields, or other items that are CU*BASE functions as support for those items will vary.
Requirements/Prerequisites
Credit union needs an existing relationship with Sync1.
ELIZABETH A CHAVEZ –
We have been using Sync1 and CU Answers since 2018. We absolutely love it! Sync1 provides a variety of reports that we use to track how many applications are being reviewed, approved, denied, funded, and counter-offered. You can track how many applications were submitted and funded per employee. They have a Sales Worksheet in the application process that quotes payments with different products and has actually helped increase our products sales. The application process is very easy and user friendly. Once the loan is approved, it is funded to CU Base. Once in CU Base, you create the loan and process the loan documents. There is no other maintenance or editing required for the loan. The support team at Sync1 are very knowledgeable, friendly, and respond timely to any of our emails, issues, or questions.