15 December 2017
visit www.solutions.lexisnexis.com

Founders Bank of Sugar Land signs for Cypress Software AppMark

06 October 2009  |  1151 views  |  0 Source: Cypress Software

Founders Bank of Sugar Land, Texas has chosen Cypress Software Systems LP's AppMark software to help the bank launch and automate its consumer lending operations.

The hosted loan software is scheduled to go live at the single-branch bank in late-October, and is expected to bring efficiency, underwriting consistency and increased credit risk management to Founders Bank's budding consumer lending initiative.

Kerry Jarka, senior vice president at Founders Bank, will be leading the consumer lending operations at the bank, and he chose the system for its automation, accessibility and reliability.

"When we decided to launch consumer lending at our bank, we knew that an automated system would be vital to ensure efficiency and profitability. Cypress and its AppMark software presented the most user-friendly, intuitive and affordable solution on the market," said Jarka. "Since the system and our database both reside on the Cypress ASP network, we not only save on upfront technology expenses, but can also securely access the information away from the branch if needed."

AppMark automates all aspects of the loan origination process from data entry to underwriting to decisioning. The software delivers the same look and feel of Cypress' flagship consumer lending solution, Mark IV, but is modified to include the features and functions that are most required by smaller community banks.

"AppMark helps level the playing field for smaller community banks by affordably providing the benefits of efficiency and enhanced credit risk management that larger banks enjoy," said Steven Croft, senior vice president at Cypress Software Systems. "We're excited that Founders Bank has partnered with us, and AppMark will ensure they experience enhanced regulatory compliance and quick, consistent loan decisions."

AppMark is hosted and delivered through Cypress' application service provider (ASP) network, so the need for additional hardware, software and IT staff to run and maintain the application was eliminated, further reducing Founders Bank's rollout costs.

Clients like Founders Bank access AppMark through remote login, which provides a more enhanced interface compared to HTML-coded, browser-based applications. Cypress manages both AppMark and its clients' customer database information through an SAS70-certified AT&T Internet data center (IDC) in Dallas.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.thomsonreuters.infovisit www.atos.netvisit www.response.ncr.com

Top topics

Most viewed Most shared
Deutsche Bank paper hails 'huge' blockchain potentialDeutsche Bank paper hails 'huge' blockchai...
10450 views comments | 17 tweets | 25 linkedin
satelliteRipple completes XRP Lockup
9811 views comments | 3 tweets | 2 linkedin
PSD2: Laying the regulatory foundation for a new age in paymentsPSD2: Laying the regulatory foundation for...
9208 views comments | 17 tweets | 36 linkedin
Brits flock to digital-only banksBrits flock to digital-only banks
7343 views 11 comments | 11 tweets | 15 linkedin
Banks and fintech startups join forces on blockchain-based supply chain pilotBanks and fintech startups join forces on...
6685 views comments | 19 tweets | 20 linkedin

Featured job

Competitive base + commission + benefits
New York City, NY - USA

Find your next job