Source: Cypress Software Systems
FirstBank Southwest has chosen Cypress Software Systems LP's Mark IV software to automate the bank's consumer loan decisioning process.
The Amarillo, Texas-based bank wanted to change its existing loan origination software, and installed Mark IV to increase the speed and efficiency of consumer loan processing, underwriting and decisioning at its eight branches.
"We chose Cypress' Mark IV software because it is very user-friendly, and it allows our lending staff to efficiently process loan applications and quickly get decisions back to our customers," said Marty Murry, senior vice president of FirstBank Southwest. "In addition, it smoothly integrates with our LaserPro document preparation system, thus eliminating the arduous and time-intensive task of manual data re-entry. That frees our lending staff to help additional customers."
FirstBank Southwest was originally chartered as First National Bank of Ochiltree in 1907, and has grown substantially over the past century, providing financial services to citizens across the Texas Panhandle. Today, the bank holds more than $650 million in assets and has more than 180 employees.
"We're excited to have FirstBank on board as a client, and we look forward to meeting their lending automation needs," said Stephen G. Sargent, president and chief executive officer of Cypress Software Systems. "Our Mark IV software will help FirstBank further increase its lending productivity and speed, thus enhancing customer service and reducing lending expenses."
Cypress' Mark IV is a software platform that automates the consumer loan application and decisioning process. With Mark IV, service associates electronically input application information while interviewing customers. The software then quickly retrieves credit reports, efficiently reviews sources of repayment, and deploys the institution's loan policies. The result is a fast, quality loan decision.