Day Air Credit Union Launches Sync1 Systems LOS With Great Success

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AUSTIN, Texas, Jan. 10, 2023 /PRNewswire/ -- Day Air Credit Union recently went live with Sync1 Systems LOS solution to enhance its indirect lending workflow and automation.

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Provider: 
PR NewswirePR Newswire
Retrieved on: 
Tuesday, January 10, 2023
Information
Tags: 
Automation, Air force, Day Air Ballpark, Open, CLO, DESC, LOS, Dayton, Ohio, Miami Valley, Atmosphere of Earth, Credit union, System, Table, Workflow, Bank
Geotags: 
TEXAS, UNITED STATES
Organisation: 
SYNC1 SYSTEMS
Summary
Key Points: 
  • AUSTIN, Texas, Jan. 10, 2023 /PRNewswire/ -- Day Air Credit Union recently went live with Sync1 Systems LOS solution to enhance its indirect lending workflow and automation.
  • The credit union largely attributes the increase in volume to its partnerships with Sync1 Systems and the creative integration with Open Lending.
  • The credit union now has an improved, best-in-class integration with the Open Lending platform and more control over implementing credit union loan policy into Sync1 Systems' workflow engine.
  • Day Air Credit Union is a great example of the success we continue to create with our credit union partners of Sync1 Systems," states Steve Maloney, CEO of Sync1 Systems.


Day Air Credit Union Launches Sync1 Systems LOS With Great Success

AUSTIN, Texas, Jan. 10, 2023 /PRNewswire/ -- Day Air Credit Union recently went live with Sync1 Systems LOS solution to enhance its indirect lending workflow and automation. "The implementation and conversion experience was handled with expert care and could not have been more seamless," expresses John Theobald, Day Air Credit Union's CLO.  

Since the conversion, Day Air's indirect auto volume has increased exponentially. The credit union largely attributes the increase in volume to its partnerships with Sync1 Systems and the creative integration with Open Lending. The credit union now has an improved, best-in-class integration with the Open Lending platform and more control over implementing credit union loan policy into Sync1 Systems' workflow engine. "A combination of the business rules library and decision/pricing tables has advanced our auto-decisioning capabilities beyond what we thought was attainable," said Theobald. "Add in the workflow automation for post-approval processing, and that approval processing, and that improves our dealer relationships and satisfaction."

Day Air Credit Union has leveraged the Sync1 Systems functionality to auto decision (approve, counter, and decline) in 84% of all auto loan transactions. Over 80% of all loan applications are decided in less than 30 seconds, allowing the credit union to win more deals in the highly competitive auto loan market. These results are reported using data from the first 90 days of production. 

"We strive to lead the industry in innovation with our credit union and integration partners to enhance the overall lending experience for all stakeholders involved, which includes credit union resources, lending partner relationships, and ultimately the member experience. Day Air Credit Union is a great example of the success we continue to create with our credit union partners of Sync1 Systems," states Steve Maloney, CEO of Sync1 Systems. 

Day Air Credit Union

Day Air Credit Union was founded in 1945 by 26 employees of the United States Air Force Depot – Gentile Station (later known as DESC), who came together as a group to help each other improve their individual financial situations. After much discussion, the original members decided to combine the words "Dayton" and "Air Force," creating the name we know, "Day Air."

The first office of Day Air Credit Union was located in a small room within the DESC facility, where an old cigar box held our member's funds. We moved twice within the DESC campus, finally settling into slightly larger quarters in Building One. In 1996, the credit union vacated the DESC campus, as the center was slated for closure. Today, Day Air has six full-service locations located throughout the Miami Valley. These locations offer professional, member-service-driven employees with convenient hours. https://dayair.org/

Sync1 Systems

Sync1 Systems is an Austin-based loan origination software focused on lending and digital experience.

We use the most effortless and smooth technology to transform the user experience and bring power to our partners for today's ever-changing digital landscape. Founded by a team of innovative experts, we understand the unique needs of our partners. Sync1 Systems exists to serve the needs of our partners, and lending is our core foundation, bringing a turnkey solution to the financial services industry.

https://www.sync1systems.com/

Media Contacts:
Steve Maloney
CEO Sync1 Systems
[email protected] 
(512) 354-2784

Bruce Callen
CFO/CDO Sync1 Systems
[email protected]
(512) 354-7221

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SOURCE Sync1 Systems

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