A CEO Strategic Boot Camp Initiative

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During the CEO Strategic Developers Boot Camp in November 2018, CEOs brainstormed on the future of internet banking from a big-picture, strategic point of view. In addition to exploring how credit unions envision their internet retailing strategies in the coming decade, CU*Answers reviewed two key initiatives that serve as templates for tactical approaches for internet retailing:  Selling loans via internet channels, and our internet stores.  View the Boot Camp Update presentation from the November CEO Strategies event.

Since that time we’ve been busy!  And during we’re setting our sights on some exciting enhancements to our online LOS (see the separate Kitchen recipe for more about that).

Projects Recently Completed

• 1Click Credit Card Offers via Online and Mobile Banking – implemented in the 20.07 release
• CD-secured Loans via Online and Mobile Banking – implemented in the 20.11 release
• CLR Path Non-Credit Bureau Decision Model – implemented in the 20.11 release
• Collateral Valuation via Kelley Blue Book (KBB) – implemented in the 19.10 release. 
• CU*BASE Integrations for Ready-to-Look (R2L) LOS Solutions, Ready-to-Book (R2B) LOS Solutions, and Misc. Coverage Solutions – all ongoing, new integrations in process all the time
• Flex Loans (loan modification requests) via Online and Mobile Banking – implemented in the 20.07 release
• New optional screen sizes for the Lending Queue and Activity Tracking dashboard  – implemented in the 20.11 release
• Save Your Filters in the Lending Queue – implemented in the 20.11 release
• Sync1 Credit Report Interface  – implemented in the 20.07 and 20.11 releases
• VantageScore via Online Credit Bureau – implemented in the 20.07 release
• New e-Signing Experience – Implemented in the Imaging Solutions 20.06 release 

Projects in the Works

• Enhancements to our Online LOS – see the separate Kitchen page
• Member-elected Skip Pays for Online Credit Cards – Expands the existing consumer loan skip-a-pay feature so that it can be offered for online credit card loans as well.  Today, credit card loan skip payments are only available via an automated batch process using Tool #317 Credit Card Skip-a-Payment Configuration.   With this project, the credit union will be able to configure credit card loan categories for a skip payment program via Tool #820 Skip-a-Payment Program Configuration.  This allows the credit union to charge a fee for credit card skip-pays.  In addition, these payment skips will be tracked the same as regular consumer loan skip pays (incrementing skips per year and skips per life of loan) and will appear on the Skip Payment History Dashboard (Tool #817) and Skip Pay History Report (Tool #818) along with other consumer loans.   Status as of November 2020: Project #53492 is in QC testing, being targeted for the 21.10 release.

Chefs for this recipe:  Pete Winninger and Geoff Johnson