SavvyMoney and Credit Union of Southern California (CU SoCal) highlighted near record-breaking numbers for pre-approval auto finance marketing campaign deployed last year.

Results from the campaign that ran from Aug. 23 to Oct. 16 showed CU SoCal generated a 74% increase in application volume from digital channels, a 53% increase in total funded contracts from digital channels (representing $2.4 million of incremental origination volume), and a nearly 50% offer click-to-application completion rate (as opposed to a normal 20% rate).

The organizations said through a news release the increased digital presence encouraged more members to apply online, which not only improved the overall member experience but also led to more efficient marketing and lending processes for the credit union.

In addition to creating visibility and accessibility within the digital banking platform, SavvyMoney’s solution offered a robust email marketing platform and made campaign planning and management easier for the CU SoCal team.

Instead of scrubbing member lists and re-building rate tables, they simply loaded their targeted member list onto the platform.

From there, the organizations said the data was leveraged to execute a highly effective prescreen marketing campaign that offered a short, frictionless three-step loan application process that led to the greatly improved conversion rates.

“We highly value our partnership with SavvyMoney. Their platform has taken our loan pre-approval process to the next level. Members love how fast and easy it is to submit their loan applications, and our Marketing team loves how simple it is to create and launch automated campaigns,” said Aaron Burnham, vice president of digital strategy and strategic initiatives for CU SoCal.

“With SavvyMoney, we are confident that our loan pre-approval experience is on par with even the biggest banks or latest fintech solutions without spending big bank dollars,” Burnham continued in the news release.

SavvyMoney, which serves more than 1,000 banks and credit unions across the country, is excited to share this solution with more of its financial institution partners in the upcoming months. This provider works with three of the biggest loan origination systems, including MeridianLink, Temenos, and Origence (CU Direct), with more to come in the future.

“SavvyMoney’s mission is to provide our financial institution partners with robust, innovative solutions that not only help drive growth, but provide their customers with an unparalleled digital experience,” SavvyMoney president and CEO JB Orecchia said in the news release.

“I am so excited to see the results of the CU SoCal campaign, how it helped their members save money, and how it upheld the credit union’s reputation of delivering exceptional products and services. We can’t wait to see how this solution will continue to make a real difference in the years ahead,” Orecchia went on to say.

To learn more about SavvyMoney, visit www.savvymoney.com.