Credit scores and paycheck stubs are nothing more than a couple of data points within a highly-complex multi-faceted, multi-layered, dynamic process that impacts real people in real situations. Credit Unions are in the business of helping people achieve their goals and/or navigate difficult situations.
Today, the process is pass/fail. You’re in or you’re out. You are worthy or you are not. Many current processes do not account for situations that are less than ideal. A little more data, a bit of a deeper look into the details, adds 500-600% more opportunities to help. A credit union must provide seamless frictionless experiences that bolster current and future members as they navigate real-life. Credit Unions are uniquely in a situation where everyone loses with a “no”, yet everyone can win with a “yes”.
Every credit union, large and small, wants more members, more borrowers, and ultimately better experiences for, not only members, but also the employees working hard to help those members. It's more than a credit score and paycheck stub. It's about opportunity. Default rates are at record lows. Consumer trust in financial institutions continues to free-fall plummeting below 29%. Over-emphasizing and managing risk is not the issue or the answer. Finding and cultivating every opportunity is.
The latest advances in automation and modern technology are exponentially multiplying opportunities. High-speed informed decision making plus Edge Funding Solutions (BNPL, JIT Financing, Embedded Finance, Electronic Wallets) provide new opportunity on every device, in every location, every minute of every day possible. Previously loss leading initiatives become profitable. Previously staff draining process become automated functions. SYFRR uses technology to do technology things so humans can do human things when others need help during those most impactful moments.
The optimal path is not always straight or easy. SYFRR is the only end-to-end, self-contained, lending automation platform that integrates core functions, complete underwriting, dynamically match product and optimize pricing, automatically create, and deliver signature-ready documentation within 3 minutes of starting the application. Profit begins day 1. Implementation is completed in only a few hours.