APPRO Introduces LoanCenter for Business Version 3.5.Business Editors BATON ROUGE Baton Rouge (băt`ən r  zh) [Fr.,=red stick], city (1990 pop. 219,531), state capital and seat of East Baton Rouge parish, SE La. , La.--(BUSINESS WIRE)--April 23, 2001 New platform enables unattended decisioning of small business loans APPRO Systems, Inc., the leading provider of automated au·to·mate v. au·to·mat·ed, au·to·mat·ing, au·to·mates v.tr. 1. To convert to automatic operation: automate a factory. 2. credit risk management and financial technologies for the lending industry, today announced the commercial availability of LoanCenter for Business(TM) 3.5, a new automated credit evaluation system designed specifically to meet the needs of commercial lenders Whilst nearly all lenders offer loans on a commercial basis the term commercial lender has differed meanings around the world.
APPRO provides rapid implementation time, training and ongoing support for LoanCenter for Business 3.5, which enables commercial lenders to improve auto-decisioning processes while decreasing process time through its new Risk Manager and Operations Manager See datacenter manager. features. Additionally, LoanCenter for Business 3.5 provides connectivity to most commercial bankcard bank·card n. A card issued by a bank authorizing the holder to receive bank services and often functioning as a debit card. and loan servicing Loan servicing is the process by which a mortgage bank or subservicing firm collects the timely payment of interest and principal from borrowers. The level of service varies depending on the type loan and the terms negotiated between the firm and the investor seeking their services. vendors, as well as the major document preparation vendors in the sector. Through Risk Manager, LoanCenter for Business 3.5 introduces risk-based pricing "Property type" redirects here. For other uses see Property (disambiguation). Risk-based pricing is a methodology adopted by many lenders in the mortgage and financial services industries. to the small business lending community and automatically determines Note Requirements based on the complexity and risk of loans. Risk Manager also establishes a feedback loop to enable lenders to make timely and strategic decisions to their credit policies by providing users storage of all attributes for future scorecard and policy analysis. It also features the latest bureau scores (such as the D&B Financial Stress Score), high-speed connectivity to credit reporting vendors and implements APPRO's One-Hour Scorecard(R) technology. "LoanCenter for Business 3.5 empowers lenders to process small business loans as quickly as consumer loans," said Craig Uffman, president and COO of APPRO Systems, Inc. "That is why the next mountain to climb for our customers is the ability to close small business loans while applicants are waiting. Based on this change in focus, we developed LoanCenter for Business 3.5's Operations Manager to help them achieve that goal." Operations Manager enables users to develop intelligent post-approval workflows that vary with the complexity of different loans. It provides flexibility to change workflows efficiently through a "drag-and-drop" setup and ensures that no necessary steps are neglected. Furthermore, LoanCenter for Business 3.5's Operations Manager supports interfaces to Harland LaserPro, Harland Loan Publisher and other document generation products. "Our focus with LoanCenter for Business is to provide commercial lenders with revolutionary new loan automation tools to make the fastest, best quality loan decisions," said Uffman. "LoanCenter for Business 3.5 is the first system to effectively offer commercial lenders the ability to do truly unattended decisioning of small business loans, and I believe that it will change the way that commercial lenders do business in the future." About APPRO Systems, Inc. APPRO Systems, Inc. is the lending industry's leading provider of comprehensive, automated credit risk management and financial technologies for the Internet and traditional lending environments. APPRO supports more than 250 financial institutions, with customers of all types in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Canada and Puerto Rico Puerto Rico (pwār`tō rē`kō), island (2005 est. pop. 3,917,000), 3,508 sq mi (9,086 sq km), West Indies, c.1,000 mi (1,610 km) SE of Miami, Fla. . The company provides rapid implementation time and follow-on consulting for its signature product, LoanCenter(TM), a scalable software system that enables high decision quality and speed and automates the entire workflow of processing credit applications and originating loans for lenders of all sizes. The 22-year-old company is based in Baton Rouge, La. with additional offices in Dallas, Texas “Dallas” redirects here. For other uses, see Dallas (disambiguation). The City of Dallas (pronounced [ˈdæl.əs] or [ˈdæl. . For additional information about APPRO, write to: APPRO Systems, Inc., 7173 Florida Blvd., Suite 100, Baton Rouge, LA 70806, or visit the company's Web site at www.approsystems.com. |
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