Credit unions, especially those with large accounting teams that juggle payments for multiple branches, have been given the ability to add approval controls for authorizing payments to vendors in the latest release of CU*Answers’ CU*BASE^® core processing platform. New features the 17.10 release let credit unions activate optional controls so that invoices must be approved by authorized employees before they can be selected for payment.

Credit unions can also define a list of authorized approvers, specify the maximum dollar amount they can approve, and even assign approvers to specific vendors. Approvers can be assigned automatically whenever a new invoice is created, or credit unions can use the new tool “Organize AP Invoices for Processing” later on to assign an invoice to someone on a credit union’s list of approvers. Approvers will receive an email reminder when an invoice is ready for approval, and credit unions can even nudge them again by email if credit unions are still waiting for an approval to be logged. Once invoices are approved, the credit unions will use the same technique as before to select the invoices credit unions wish to pay, with the main difference being that only approved invoices can be selected for payment. Payments are made using the same new process already outlined, via check or ACH according to a credit unions vendor configuration.