from DSSResources.comLake City Bank chooses Cypress Software's BizMark application to automate small business loan processNORTH RICHLAND HILLS, Texas, Aug. 22, 2006--Lake City Bank of Warsaw, Ind. has chosen Cypress Software Systems LP's BizMark application to automate its small business lending process. The bank began installing the software across its 43 branches in March to help strengthen its small business portfolio and shift the application entry of such loans from the commercial loan department to its branch managers and customer service representatives. "We are revamping our small business lending department and need a software application that will improve our small business lending process and portfolio. Cypress' BizMark is a perfect fit," said Lisa Bicknese, assistant vice president, loan project management for Lake City Bank. "As users of Cypress' Mark IV consumer lending application, we chose BizMark to provide a user-friendly interface for our employees, speed up the lending process and integrate smoothly into our loan documentation preparation system." BizMark is based on a Cypress-delivered .NET/Microsoft SQL Server platform and runs in a customer relationship management (CRM) environment, enabling lenders to take credit requests including principal and financial statement data; retrieve and interpret consumer and business credit reports; perform ratio analysis; and score the results. The software handles small business commercial credit requests for lines of credit, term loans, commercial mortgages, corporate leases and corporate credit cards. "Loan origination and automation software has its roots in the consumer lending space, but has quickly become a fast, reliable tool to process small business loans as well," said Stephen G. Sargent, president and chief executive officer at Cypress Software Systems. "Applications such as BizMark help institutions like Lake City Bank process a loan from application entry through decisioning and automatically interface with a loan documentation preparation system, saving hours of data analysis, re-entry and paperwork." Established in 1872, Lake City Bank has locations across 12 counties in northern Indiana, with large branches in Fort Wayne and Elkhart. Lake City currently has $1.6 billion in assets and about 500 employees. Their mission is to provide a comprehensive range of financial services while retaining the feel and approach of a community bank. About Cypress Software Systems Headquartered in North Richland Hills, Texas, USA, Cypress Software Systems, LP is a leading developer of automated credit application decision support technology. Cypress provides community and regional banks, finance companies and credit unions with loan application decision and tracking tools equivalent to those used by the largest national lending institutions. Clients, nationwide and in 16 countries, use the company's flagship products, Mark IV and BizMark, to quickly and consistently process consumer and small commercial loan applications. Cypress Mark IV offers a flexible, risk-based processing approach that includes tracking consumer loan applications from point of entry to point of decision. Cypress' BizMark loan automation software processes commercial loan requests within a customer relationship management environment. Both products may be licensed in the bundled Cypress Suite and are offered in either an application service provider (ASP) or traditional business model. The company's product line also includes AppMark, an ASP-only consumer lending solution for community banks with assets of $200 million or less. Web Site: www.go-cypress.com. |