State Bank & Trust Company Automates Loan Process with Cypress Software

State Bank will implement the software throughout its 27 branches in Mississippi and Louisiana. Bank officials chose Mark IV to streamline the company’s consumer lending process, provide faster decision turnaround and ultimately increase customer satisfaction.

RIDGELAND, MS (PRWEB) April 5, 2005 -– State Bank & Trust Company has selected Cypress Software Systems LP’s Mark IV software to automate the bank’s consumer loan origination process.

State Bank began installing the Mark IV in March and will implement the software throughout its 27 branches in Mississippi and Louisiana. Bank officials chose Mark IV to streamline the company’s consumer lending process, provide faster decision turnaround and ultimately increase customer satisfaction.

“We were looking for the best software solution to standardize the decision-making throughout our consumer lending operations, and Cypress and Mark IV fit our needs very well,” said Doug Bullock, senior vice president of retail banking at State Bank & Trust. “Mark IV will bring consistency to our underwriting and will help bolster our loan portfolio. In addition, the software provides an user-friendly interface and good flow of information that will make the employee training and usage much easier.”

Cypress’ Mark IV platform allows lenders to take loan applications electronically while interviewing applicants, quickly retrieve credit reports, efficiently review sources of repayment and deploy their loan policies. Cypress provides these tools to financial institutions with the goal of speeding a quality loan decision back to the applicant.

“Our Mark IV solution has helped banks across the country simplify their loan processes and cut costs,” said Stephen Sargent, president and chief executive officer of Cypress Software Systems. “We’re excited to have State Bank & Trust on board, and expect them to benefit greatly from the automation features, from application entry to interfacing with their loan documentation preparation system.”

State Bank & Trust Company, with 21 locations in Mississippi and six branches in Louisiana, serves markets from Memphis, TN to Baton Rouge, LA and has more than $750 million in assets.

Headquartered in North Richland Hills, Texas, Cypress Software Systems, LP is a leading developer of automated credit application decisions support technology.

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