Union Safe Deposit Bank Implements Technology From APPRO Systems For Consumer Loan Automation.Business Editors
BATON ROUGE Baton Rouge (băt`ən rzh) [Fr.,=red stick], city (1990 pop. 219,531), state capital and seat of East Baton Rouge parish, SE La. , La.--(BUSINESS WIRE)--Aug. 25, 2003
APPRO Systems, Inc., the leading provider of automated credit risk management and financial technologies for the lending industry, announced today that Union Safe Deposit Bank The Union Safe Deposit Bank was founded in Stockton, California, United States in April 1897. It was purchased in 2004 by the Bank of the West, and all its branches were converted to BOTW on January 24, 2005. (USDB USDB United States Disciplinary Barracks
USDB Utah Schools for the Deaf and Blind ), one of the oldest and largest independent community banks in California's Central Valley, has selected APPRO's LoanCenter Consumer(TM) loan automation system to process its direct loans -- including home equity and lines of credit -- for its customers. The bank has assets of more than $1 billion and serves more than 40,000 households.
USDB installed LoanCenter Consumer in February 2003. The bank based its purchase of the system on its ability to streamline the 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. process, allow instantaneous reporting capability, create process efficiencies and allow branches to review the current status of their loan applications in real time. USDB selected the ASP version of LoanCenter Consumer in order to reduce the expense of internally supporting the system and to ensure consistent access to the system via the Internet.
"APPRO provides us with a faster turnaround in the entire lending process, and superior tracking ability resulting in better and quicker customer service and branch support," said Ralph Sutliff, manager of the consumer loan department at USDB. "What sold us on the system was the value and quality of the overall process, screen flow, the user friendly application, reporting capability, scalability and support."
LoanCenter Consumer enables consumer lenders to improve auto-decisioning processes and increase application origination efficiency while providing connectivity to most commercial bankcard 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.
"USDB needed a solution to streamline its current lending processes while, at the same time, providing the flexibility required to deliver future enhancements," said Steve Uffman, chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of APPRO Systems, Inc. "With LoanCenter Consumer, the bank has positioned itself to achieve this while ensuring continuity of service to its customers."
About Union Safe Deposit Bank
Union Safe Deposit Bank is one of the Central Valley's oldest and largest California independent community banks, with 19 branch locations throughout San Joaquin San Joaquin (săn wäkēn`), river, c.320 mi (510 km) long, rising in the Sierra Nevada, E Calif., and flowing W then N through the S Central Valley to form a large delta with the Sacramento River near Suisun Bay, an arm of San Francisco Bay. and Stanislaus counties. Our size enables us to provide the same products and services as the big banks and the personalized service provided by smaller banks. For information about USDB visit the Web site at www.unionsafe.com.
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 400 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 professional services 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 25-year-old company is based in Baton Rouge, La. with additional offices in Dallas, Texas. For additional information about APPRO, visit the company's Web site at www.approsystems.com.