Chase Selects Small Business Lending System; Money Center to Install 20 20 System for Small Business Underwriting Operations.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)--Jan. 13, 1995--The Chase Manhattan
Bank The Chase Manhattan Bank, now part of JPMorgan Chase, was formed by the merger of the Chase National Bank and the Bank of the Manhattan Company in 1955. The bank is headquartered in New York City. has selected the 20/20 Small Business Lending System from APPRO
Systems Inc. to automate its small business commercial lending
operations.
The selection of 20/20 is part of an overall strategy to streamline and better support Chase's small business lending. The 20/20 Small Business Lending System is a complete turn-key software package that automates risk evaluation for small business loans. The system merges the personal credit and financial profiles of a business and its owners, providing a complete and accurate profile. We reviewed several packages on the market, and the 20/20 system included all the functional aspects we liked about the others into a single integrated system, explained Wing Oon, Chase Manhattan Vice President & Manager of Quantitative Modeling. Our goal is to expand our business and improve our efficiency. Automation is critical in achieving that goal. The 20/20's flexibility enables us to implement into the system our criteria for calculating loan ratios and evaluating credit profiles, Oon continued. Being able to modify the system as needed as needed prn. See prn order. is extremely important with an underwriting operation of our scale. The system is scheduled to be up and running by the first quarter of 1995. Chase will use 20/20 in conjunction with a Fair Isaac's credit scoring Credit scoring A statistical technique that combines several financial characteristics to form a single score to represent a customer's creditworthiness. algorithm and will pull credit reports from credit bureaus. APPRO Systems Inc. was founded in 1979 and is privately held and managed. The company s family of credit assessment products is used by more than 55 financial institutions nationwide. Along with the 20/20 Small Business Lending System, APPRO's products include its flagship MP-100 Risk Processor, a complete assessment package for consumer lending Consumer lending or consumer loans refers to any type of loan product that is not a mortgage; such as a car, boat, manufactured home, home equity loan, home equity line of credit, signature loan, signature line of credit, recreational vehicle, or Certificate of Deposit loans. that evaluates multiple products and applicants, and the APPRO Auditor, an automated indirect loan closing package. Among APPRO's clients are Bank of America
Bank of America (NYSE: BAC TYO: 8648 ) is the largest commercial bank in the United States in terms of deposits, and the largest company of its kind in the world. , Crestar Bank, Premier Bank, Seafirst Bank and Snap-On Tools. APPRO Systems Inc. is headquartered at 9489 Interline in·ter·line 1 tr.v. in·ter·lined, in·ter·lin·ing, in·ter·lines To insert between printed or written lines. in Avenue, Baton Rouge, La. 70809. CONTACT: APPRO Systems Inc., Baton Rouge
Amanda Wesley, 504/922-4792
(fax) 504/922-4777
or
William Mills Agency, Atlanta
Mark Wheeler, 404/261-4900
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