CU*Answers’ implementation of the recent 17.05 CU*BASE® release to online clients on May 19 provided credit unions with a wealth of software enhancements and new features. Among these new features is an enhancement to the 247 Lender Approval Matrix, which will allow credit unions to further tailor how long a decision is retained on CU*BASE, by changing the options for the period from months to days.

This function of the approval matrix defines how long this decision record should be considered “good” for the purposes of authorizing an MSR or teller to approve a member for service, as well as how long the pre-approvals button will appear on Inquiry, Phone Operator, and Teller screens after the credit report is pulled. This field also controls how long the decision will be used for automated decisions such as when a member completes an application in It’s Me 247 online banking, so credit unions have plenty of reasons to set this new granular control to determine how many days a decision is active.

“This improvement gives credit unions a tighter control over automated approvals to be returned,” said Beth Barron, CU*Answers Lender*VP account executive. “This means that credit unions don’t run the risk of over-approving when an approval may already be in the queue.”