Cypress Software Introduces AppMark for Community Banks; Hosted Solution Meets Need for Robust, Affordable Loan Automation Software.NORTH RICHLAND HILLS, Texas North Richland Hills is a city in Tarrant County, Texas, United States. The population was 55,635 at the 2000 census. In 2006, North Richland Hills was selected as the one of the "Top 100 Best Places to live in America" according to Money magazine. -- Cypress Software Systems, LP today introduced AppMark, an affordable, hosted loan application processing solution for community banks with assets of $200 million or less. The software is available through Cypress' new application service provider (ASP) network, meaning clients won't need additional hardware, software or IT staffing to run and maintain the application. AppMark delivers the same look and feel of Cypress' flagship 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. solution, Mark IV, but is modified to only include the features and functions that are most required by community banks. "AppMark is our answer to an unmet un·met adj. Not satisfied or fulfilled: unmet demands. need among community banks for affordable application processing software that will ensure underwriting Underwriting 1. The process by which investment bankers raise investment capital from investors on behalf of corporations and governments that are issuing securities (both equity and debt). 2. The process of issuing insurance policies. consistency, regulatory compliance and quick, automated decisions," said Stephen G. Sargent, president and chief executive officer at Cypress Software Systems. "Although it doesn't include all the bells and whistles A slang English term for exceptional features in some product. In the computer field, it typically refers to functions in software that may be greatly appreciated by some users, even though they may not be necessary most of the time. of our Mark IV product, AppMark still offers the most robust solution available to smaller institutions. From application entry, to credit report retrieval, to decisioning, AppMark enhances lending operations and customer service." Clients access AppMark through remote login (networking) remote login - A client-server program and protocol that provides an interactivel command line interface to a remote computer, using a protocol over a computer network, simulating a locally attached terminal. , providing a rich, smooth interface compared to HTML-coded, browser-based applications. Cypress will manage the software and customer database information through an SAS (1) (SAS Institute Inc., Cary, NC, www.sas.com) A software company that specializes in data warehousing and decision support software based on the SAS System. Founded in 1976, SAS is one of the world's largest privately held software companies. See SAS System. 70-certified AT&T Internet data center (IDC) in Dallas. The licensing structure for AppMark includes a quarterly service charge, as well as an initial setup fee to cover required Microsoft licenses. The software's monthly processing volume is limited to 500 applications under the basic plan, and Web-based employee training is included. 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 Noun 1. lending institution - a financial institution that makes loans financial institution, financial organisation, financial organization - an institution (public or private) that collects funds (from the public or other institutions) and invests them in . Clients, nationwide and in 16 countries, use the company's flagship products A primary product of a company, which is typically why the company was founded and/or what made it well known. For example, MS-DOS, Windows and the Microsoft Office suite have been flagship products of Microsoft. CorelDRAW is a flagship product of Corel Corporation. , 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 $200 million or less. Web Site: www.go-cypress.com. |
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