| [November 18, 2008] |
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Guaranty Bank Automates Consumer Lending with Cypress Software�s Mark
IV System
NORTH RICHLAND HILLS, Texas --(Business Wire)--
Guaranty Bank, a subsidiary of Guaranty Financial Group Inc. (NYSE:
GFG), has chosen Cypress Software Systems LP�s Mark IV software to
automate the bank�s consumer loan operations.
Guaranty Bank, an Austin, Texas-based institution with $15.4 billion in
assets, and Cypress Software installed Mark IV this summer in the bank�s
Retail Loan Center. The software helps Guaranty�s loan officers
efficiently process consumer credit requests for all of its 160 banking
centers across Texas and California.
By the first quarter of 2009, Guaranty also plans to deploy Cypress�
WebApp module, allowing banking center associates to submit consumer
loan applications online directly to the Mark IV system. WebApp will
also be employed in the bank�s program lending area, enabling acceptance
of consumer credit applications referred by companies participating in
Guaranty�s Program Lending.
�We were looking for a technology solution that was more user-friendly
than our previous lending system and provided the reporting functions we
need to make timely, informative decisions. Cypress� Mark IV was the
answer,� said Monica Maguire, senior vice president and director of the
Retail Loan Center at Guaranty. �In addition, the software will help
bring additional speed to our underwriting, and help us better manage
risk. We�re also excited about Cypress WebApp tool, which will add a new
dimension to our loan operations and provide an added level of customer
service.�
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 analyzes the capacity for repayment, and deploys the
institution�s loan policies. The result is a fast, quality loan decision.
�Guaranty Bank is one of the largest and most respected institutions in
the Southwest, and we�re honored to have them as a client and partner,�
said Stephen G. Sargent, president and chief executive officer of
Cypress Software Systems. �Our Mark IV solution will bring additional
speed and efficiency to their entire lending process.�
Cypress� WebApp solution integrates with Cypress� Mark IV software and
can be deployed in consumer-facing, wholesale and indirect finance
channel formats. The latter two formats enable efficiency gains by
delegating application entry to branch or agent personnel handling the
customer relationship. The consumer-facing solution displays the
appropriate loan application forms that customers can access via the
financial institution�s Web site, in either an offsite or in-store kiosk
venue. Applicants complete and submit the request over a secure Internet
connection directly to Mark IV. The software then automatically sends
the application through credit retrieval, underwriting and decisioning,
followed by an appropriate automated or personal response back to the
consumer.
About Guaranty Financial Group Inc.
Guaranty Financial Group Inc. is the second largest publicly-traded
financial institution holding company headquartered in Texas and one of
the 50 largest publicly-traded financial institution holding companies
based in the U.S. ranked by asset size. Guaranty Financial Group
operates Guaranty Bank, which engages in consumer and business banking
activities through a network of more than 160 banking centers in Texas
and California. Guaranty Bank also provides financing to middle market
companies, independent energy producers, and the real estate industry.
Additionally, Guaranty Bank operates an insurance agency, Guaranty
Insurance Services, Inc.
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 $250 million or less. Web Site: www.go-cypress.com.
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