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1.
Can CU*Answers assist us in answering examiner questions about our risk assessment and how it applies to Audio Banking and Online Banking?
Of course we are always happy to assist you in explaining system features to your auditors and examiners. We will be glad to talk directly to your examiner to explain not only how the tools and security features work, but also the strategic ideas behind why things work they way they do and the direction in which we are heading. Please contact a CSR or our CEO directly if you need help working with your examiners.
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2.
From a risk assessment standpoint (i.e., risk of money being moved from a member's account or loss of personal identity), are there many features in the CU*Answers Audio Banking system that are similar to Online Banking?
While audio response originally mirrored the functionality of Online , the paths for those two channels have diverged greatly as home banking as grown and expanded over the past several years. For example, while Online Banking offers an optional feature to allow members to update personal information online, no such equivalent feature exists in audio response. Additionally, as of September 2, 2012, members can no longer make transfers from their membership to another membership and cannot requ More...
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3.
My credit union needs to complete a risk assessment of the Audio Banking system. What information can you provide to assist me?
The CU*TALK Introductory/Startup Guide explains the features that are available with the standard Audio Banking system provided by CU*Answers. This system uses TCP/IP technology provided by Interactive Intelligence, Inc. (I3). Also refer to the links below for additional information.
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4.
Why is CU*BASE not returning results when we run a risk assessment on someone living outside the U.S. ?
CU*BASE only supports those with a valid US address for our QualiFile interface. If a member has a foreign address, you would need to process that through the website manually.
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5.
I'm trying to run risk assessment on a membership and the screen returns a reply saying that the QualiFile decision is "review." What might that mean?
One reason is that the first name field is limited to 12 characters when running QualiFile (ChexSystems). If the member's name is longer than 12 characters, the scan must be run manually via their website.
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6.
Does CU*BASE support Risked Based Lending strategies?
Yes, CU*BASE supports risk based lending. CU*BASE provides tools for pricing loans as based upon the Credit Score/ Paper Grade received. A credit union should check with its applicable credit bureau(s) for Decisioning Products available to facilitate this process.
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7.
We are looking at the loan to share trial balance review screen for 11/30/13 and the loan risk scoring analysis report for 11/30/13. There is a difference in the totals. What is the difference?
The differences between the Loan/Share Trial Balance Review and the Loan Risk Analysis Report are: The Loan/Share Trial Balance Review is pulled with beginning of day totals, does not include loan category 99, but does include loans with a risk score of 0. The Risk Score Analysis Report is pulled from end of day totals, does not include loan category 99 (if excluded in the response options), and does not include loans with a risk score of 0.
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8.
Why are Audio Response and Online Banking not allowing loan distributions?
With the May 2004 CU*BASE software upgrade, a new option was added to allow you to control whether or not disbursements can be made through Audio Response and Online Banking, by loan category. This feature can be turned on or off using Tool # 458 Loan Category Configuration. After selecting the loan category, use F23-Audio/PC Bank to change the setting on the new Allow disbursements... flag. loan Online Banking, distributions, CU@Home, CU*@Home
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9.
In the program where we update the rates for Audio Banking, what happens if I change a rate to 0.000% or erase an entire line from the configuration?
If the configuration has a rate of 0.000, Audio Banking will not read any message for that rate, even if one was originally recorded. For example, say you have requested a message to be recorded for item #9 on the configuration, but then you forget to go in and actually enter the rate into your configuration, or you accidentally delete the rate later. That recording will never be read to the member. Once you go in and enter a rate in position 9, then message #9 will be read along with that ra More...
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10.
Currently our certificate rates are played in CU*Talk audio response as well as displayed in It's Me 247 online banking. Can we delete these rates only from audio response?
The following applies only to credit unions that have activated the Text-To-Speech (TTS) engine for CU*Talk Audio Response. You can use Tool #506 Member Rate Maintenance to control product rates read to members in CU*Talk Audio Response. But keep in mind that because you are using Text-To-Speech, changes made here directly affect the credit union website and It's Me 247 online banking as well. Once in the menu option, select shares or certificates. From the next rate menu you will see a More...
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11.
When looking at our loan queue, we see a ‘pass decision’ status but the application failed in the underwriting ratios assessment requirements. Why do we see the ‘pass decision’ status?
When you see the 'pass decision' status, this means that the application passed your filters and then passed the model. The underwriting ratios are not a hard stop and will not cause an application to pass or fail. Based on the workflow, a model is requested and a decision has already been made by the time those ratios calculated. The ‘fail’ flag in the underwriting ratio is simply a visual indicator to the loan officer that the ratio is potentially higher than normal. More...
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12.
How can I obtain statistics on how my members use audio response and online banking?
There are several ways to obtain this data. To see the total number of active online banking members, use Tool #856 Tiered Svcs Monthly Comparison to display active user counts for any monthly period. (HINT: Click the Goal 4 button to display this data.) This can be done even if your credit union does not use Tiered Services for any other purpose. To print a report of usage statistics, use Tool #141 ARU/Online Banking Stats Dashboard To see online banking usage stats for a particular m More...
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13.
What happens if I enter a rate into the Audio Banking rate configuration screen but there is no recorded message that goes with that rate?
The following applies only to CUs that do NOT use the Text-To-Speech (TTS) engine for CU*Talk Audio Response. In order to read a rate message to a member in CU*Talk Audio Response, the system must find both a recorded message for that position and a rate greater than 0.000 on the corresponding position in your configuration (Tool #882 Update ARU Interest Rates ). For example, message #1 and rate #1 must both exist in order to read the rate message to the member. Remember that in order for mes More...
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14.
What methods can your credit union use to mitigate the risk of Deposit Secured loans?
Some methods your credit union may use to mitigate the risks include: Your credit union may restrict a member from opening these loans online by restricting the member from having online banking access. Your credit union may opt to make a special certificate product or savings product for Deposit Secured Loans and limit those members who may open these types of accounts. Your credit union may wish to consider the range of balances for your savings accounts/certificates querying table MEMBER1/ME More...
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15.
Do I have to activate online banking and audio response automatically for all my new members?
No, actually you can default all new memberships to deactivate online banking and/or audio response access until the member specifically requests it. This is highly recommended as it helps to protect members who join the credit union but never get around to using your online tools right away. These accounts may be your most vulnerable since the member hasn't set up a private password or security questions. By deactivating them as a default, you can give them a little extra protection from More...
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16.
Can we restrict payments on a particular loan category
through Audio and/or Online Banking?
Yes. In the Loan Category Configuration you will see an Audio/Online Banking button. Use this to make your selections for this loan category. cuathome It's Me 247 Online Banking cu@home
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17.
Are CU*TALK audio response and It's Me 247 online banking ever put into stand-in mode?
Yes, this occurs every night when we perform daily processing. During stand-in, all audio response features will continue to work as usual. However, there are a few special features in online banking that are not available during stand-in processing. See the link below for more details on services that are unavailable during stand-in.
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18.
How do I activate or deactivate a member's access to online banking or audio response?
There are a couple of access points: Launch Tool #14 Member Personal Banker and select the Online banking/ARU (activate, change PIN/password; view password history) option OR Launch Tool #72 Update ARU/Online Banking Access (PIN) (Shortcut: pin) It's Me 247 CU*TALK CUTalk
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19.
I am interested in ordering some of your It's Me 247 home banking and CU*TALK audio response marketing brochures. How much do they cost and who will bill my credit union?
Marketing material lists and samples can be found at the Marketing Website: http://marketing.cuanswers.com/materials.php Click on the “Order material” button then fill in quantity, customized information, shipping instructions, etc.
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20.
We are thinking of activating the new See and Jump features for online banking. Can you explain the thinking behind the security, and why only an account owner can have this access?
IMPORTANT NOTE: With the new look for It’s Me 247 being released during 2021, the “See” option shown on here is temporarily unavailable. Members who had See-only access previously configured will no longer have access. Jump, however, is still available. There are two major points to consider when thinking about allowing members to see information beyond the account to which they are actually logged in. Both extend beyond online banking to consider a financial institution&rs More...
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21.
Why does CU*BASE show delinquency in two different ways? In some places it is months/days and others it is actual number of days.
There are two methods used to track delinquent loans for reporting purposes in CU*BASE: Method One (for Collections tracking) We have always tracked delinquency in two separate fields for “Months” and ‘Days” in the member files. When a loan is 30 days delinquent, it shows as “0 Months, 30 Days” delinquent. When a loan is 31 days delinquent, it is “1 Month, 0 Days” delinquent. A month is always considered 30 days regardless of the actual number o More...
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22.
What risks need to be evaluated when using Deposit Secured Loans?
Certain controls that may be used by a lender, or even by It’s Me 247 when a member submits a loan application, are not evaluated by the system-generated Deposit Secured loans. As long as a member has access to online banking, a PIB profile that allows loan applications, and has a certificate of a Certificate Type/Dividend Application that allows Deposit Secured loans, that member has the ability to open a Deposit loan online, up to the available funds on that CD/checking/savings account. More...
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23.
If I activate the NSF/ANR fee disclosure on my statements, will it print for savings accounts as well?
Yes, if any non-return fees are assessed to a savings accounts and you have the Reg. DD disclosure activated for your statements. (This new feature was implemented in June 2010.) Although it is rare for a savings account ever to be charged a non-return fee, one example that might cause this would be if you had debit cards that were tied exclusively to a savings account. If the fee amounts are zero (NSF current period, NSF YTD, ANR current period, ANR YTD), then the NSF Fee Summary box will not More...
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24.
What is the best way to handle payoff for an online credit card account?
There are three choices. 1. Manually add the estimated finance charges to the balance of the account and have the member make the full payoff at that time. Then clear the cumulative balance on the individual buckets to ensure that there are no finance charges assessed on the account. To do this you will launch Tool #20 Update Account Information. Select the credit card account and then select F16/Chg Type Maint. Select the individual bucket and select the Maintenance action code. In the cumulat More...
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25.
Why does CU*Answers charge a monthly fee for running service charge programs we configure ourselves in CU*BASE?
There are two primary reasons we charge this fee: Our belief that we should do our best to keep our fees down when credit unions do not earn. This is why, for example, It's Me 247 Mobile Web is offered free to our credit unions. It's also behind our constant pressure to reduce fees where CUs have no basis or belief they can charge for a defensive, relationship service. Charging for these services in this manner fund other areas where the direct expenses cannot easily be identified wi More...
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