New Consumer Lending System Supports Banks' Electronic Commerce Aspirations.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)--Aug. 12, 1998--
APPRO delivers Year 2000 Compliant a. 1. (Computers) having dates fully and properly represented, and not susceptible to failure due to the year 2000 bug. System featuring Windows(tm) platform APPRO Systems, Inc. announced the availability of its new 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. System which is capable of handling applications from multiple access channels within the bank. This is significant because of the industry's interest in electronic commerce, which is expected to deliver electronic transactions from multiple consumer access points at a low processing cost. "There are several trends which will effect the future of this industry and our clients," said Craig Craig , Edward Gordon 1872-1966. British theatrical producer, director, and designer whose innovative productions and simplified stage designs influenced modern theater. Uffman, president of APPRO Systems. "The adoption of electronic commerce and the explosion of bankruptcies and delinquencies are a few of the trends APPRO has prepared our clients for with this new release of the Consumer Lending System." "By having this technology in place, banks will be able to accelerate the adoption of electronic commerce services with their bank by consumers, business partners, and as the market dictates," continued Uffman. In addition, APPRO has provided lenders with more sophisticated decision-support and business logic tools, enabling each institution to monitor and change its policies quickly and serving as additional quality assurance checkpoints. The new system is designed to process more than 15,000 loans per hour. "The credit industry is constantly changing and is very competitive, so it's it's 1. Contraction of it is. 2. Contraction of it has. See Usage Note at its. it's it is or it has it's be ~have critical that we continue to offer our clients technology to help them remain competitive and maximize profit on every loan," said Uffman. APPRO's consumer lending systems are used by high-volume lenders throughout North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. to evaluate credit risk and process consumer loans. The company's customer portfolio includes Hibernia Bank, Bank One Louisiana Louisiana (ləwē'zēăn`ə, l ē'–), state in the S central United States. It is bounded by Mississippi, with the Mississippi R. , Volkswagen Finance, and The
Toronto-Dominion Bank The Toronto-Dominion Bank (TD) (TSX: TD NYSE: TD TYO: 8640 ) is a bank headquartered in Toronto, Ontario, Canada. It is one of Canada's Big Five banks, being the second largest bank in the country by assets and market capitalization. .
Additional Features and Benefits of the System The system allows for the support of more complex payment schedules, including multiple down payments and multiple payment options, providing the lender with additional information to make smarter loan decisions. Lenders can also fund from different bank accounts for each product by channel and product, enabling lenders to use various accounts to provide funds for each defined product and channel. The new software significantly reduces the time needed to process loan contracts for both prime and non-prime lenders by applying business logic that ensures contracts and leases comply with an institution's standards. Exceptions are noted instantly and queued for supervisor review. Accepted contracts and leases are funded automatically. The system recognizes different workflow The automatic routing of documents to the users responsible for working on them. Workflow is concerned with providing the information required to support each step of the business cycle. requirements for prime and non-prime loans and ensures that all process steps are completed prior to booking a new loan or lease. About APPRO APPRO Systems, Inc., founded in 1979, is privately held and managed. The company's family of credit assessment products is installed in more than 90 financial institutions nationwide. Along with the consumer lending, APPRO's products include: the 20/20 Small Business Lending System, a complete assessment package for commercial lending that evaluates multiple applicants and products; the Home Improvement Lending System, specifically designed to meet the special workflow and documentation needs of home improvement and home equity lending; and Bright Box Lending Systems, developed to empower empower verb To encourage or provide a person with the means or information to become involved in solving his/her own problems small to medium-sized lenders with many of the technological advances used by larger institutions. APPRO Systems 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. For more information contact Craig Uffman at 504/922-4730 or visit the company web site at www.approsystems.com.
CONTACT: APPRO Systems
Craig Uffman, 504/922-4730
craig_uffman@approsystems.com
or
Beth Quinlan, 404/264-7207
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