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Guaranty Bank Automates Consumer Lending with Cypress Softwares MarkIV System

^{Published on 2008-11-18 12:32:04 - Market Wire}
 

NORTH RICHLAND HILLS, Texas--([ BUSINESS WIRE ])--Guaranty Bank, a subsidiary of Guaranty Financial Group Inc. (NYSE: GFG), has chosen Cypress Software Systems LP's Mark IV software to automate the bank's consumer loan operations.

Guaranty Bank, an Austin, Texas-based institution with $15.4 billion in assets, and Cypress Software installed Mark IV this summer in the bank's Retail Loan Center. The software helps Guaranty's loan officers efficiently process consumer credit requests for all of its 160 banking centers across Texas and California.

By the first quarter of 2009, Guaranty also plans to deploy Cypress' WebApp module, allowing banking center associates to submit consumer loan applications online directly to the Mark IV system. WebApp will also be employed in the bank's program lending area, enabling acceptance of consumer credit applications referred by companies participating in Guaranty's Program Lending.

"We were looking for a technology solution that was more user-friendly than our previous lending system and provided the reporting functions we need to make timely, informative decisions. Cypress' Mark IV was the answer," said Monica Maguire, senior vice president and director of the Retail Loan Center at Guaranty. "In addition, the software will help bring additional speed to our underwriting, and help us better manage risk. We're also excited about Cypress WebApp tool, which will add a new dimension to our loan operations and provide an added level of customer service."

Cypress' Mark IV is a software platform that automates the consumer loan application and decisioning process. With Mark IV, service associates electronically input application information while interviewing customers. The software then quickly retrieves credit reports, efficiently analyzes the capacity for repayment, and deploys the institution's loan policies. The result is a fast, quality loan decision.

"Guaranty Bank is one of the largest and most respected institutions in the Southwest, and we're honored to have them as a client and partner," said Stephen G. Sargent, president and chief executive officer of Cypress Software Systems. "Our Mark IV solution will bring additional speed and efficiency to their entire lending process."

Cypress' WebApp solution integrates with Cypress' Mark IV software and can be deployed in consumer-facing, wholesale and indirect finance channel formats. The latter two formats enable efficiency gains by delegating application entry to branch or agent personnel handling the customer relationship. The consumer-facing solution displays the appropriate loan application forms that customers can access via the financial institution's Web site, in either an offsite or in-store kiosk venue. Applicants complete and submit the request over a secure Internet connection directly to Mark IV. The software then automatically sends the application through credit retrieval, underwriting and decisioning, followed by an appropriate automated or personal response back to the consumer.

About Guaranty Financial Group Inc.

Guaranty Financial Group Inc. is the second largest publicly-traded financial institution holding company headquartered in Texas and one of the 50 largest publicly-traded financial institution holding companies based in the U.S. ranked by asset size. Guaranty Financial Group operates Guaranty Bank, which engages in consumer and business banking activities through a network of more than 160 banking centers in Texas and California. Guaranty Bank also provides financing to middle market companies, independent energy producers, and the real estate industry. Additionally, Guaranty Bank operates an insurance agency, Guaranty Insurance Services, Inc.

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. Clients, nationwide and in 16 countries, use the company's flagship products, 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 $250 million or less. Web Site: [ www.go-cypress.com ].