California Bank & Trust Automates Credit Decision Process with DecisionExpress from LiveCapital - Leading commercial bank speeds processing, reduces costs
LiveCapital, a leader in business credit automation, today announced that California Bank & Trust (CB&T), the third-largest SBA lender in the California market, has implemented DecisionExpress to automate and streamline the loan decision process in all branch offices.
San Mateo, CA. - April 16, 2002 - LiveCapital, a leader in business credit automation, today announced that California Bank & Trust (CB&T), the third-largest SBA lender in the California market, has implemented DecisionExpress to automate and streamline the loan decision process in all branch offices.
"DecisionExpress has reduced our application processing time from about 5 to 7 days, in our paper-based system, to less than 20 minutes, so we can provide our customers with an answer as we're discussing their needs," said Mike Mantle, Executive Vice President and Director of California Bank & Trust's Community Development Division. "In addition to dramatically reducing processing costs and time in our branch offices, we are now able to let our customers fill out an application and get a decision on the Internet, which is a new channel for us. DecisionExpress helps us capture more business with a fast decision."
"Implementing DecisionExpress for credit automation has a tangible economic impact," said Mike Grossman, CEO of LiveCapital. "CB&T's experience of rapid improvement in their credit process, in higher sales and reduced costs will go straight to their bottom line."
DecisionExpress was implemented for CB&T in less than three months, and was rolled out to all the branch offices starting in early March, providing quick payback on CB&T's investment. Adoption of the solution was rapid and provided feedback so quickly that CB&T has already requested additions to their implementation, including a shorter credit application for smaller loan amounts.
The economic benefits to CB&T include increased sales, decreased processing costs, and reuse of an existing customer's credit data to provide a new credit decision.
DecisionExpress flexible decisioning engine accommodates different business and consumer credit data sources, custom and standard scorecards, business rules and risk-based pricing for credit. Optional process management capabilities provide for streamlined workflow of any decisions that must be made by credit analysts, as well as managing the required documentation.
About LiveCapital
LiveCapital is a leading provider of credit automation products to Fortune 1000 companies. The company's core product, DecisionExpress, automates the credit approval process to speed sales and reduce operational costs. Privately held and headquartered in San Mateo, California, LiveCapital has streamlined credit management for industry leaders including United States Steel, John Deere and Federated Capital. Investors include Kleiner Perkins and XL Capital. For more information, please visit www.livecapital.com.
About California Bank & Trust
California Bank & Trust is among the largest commercial banks in the State of California with over $8 billion in assets and nearly 100 branch offices. With local management and decision-making and an emphasis on relationship banking, CB&T provides a variety of products, resources and financing solutions for businesses and individuals, including wealth management, Internet banking, commercial and small business lending, cash management and international banking. Visit CB&T's website at www.calbanktrust.com.
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LiveCapital is a registered trademark of LiveCapital, Inc. All other trademarks or registered trademarks are properties of their respective holders.
LiveCapital Contact:
Kathy Finnegan, LiveCapital, Inc.
650-350-3642
kfinnegan@livecapital.com
CB&T Contact:
Chuck Laham, California Bank & Trust
858-793-7481
lahamc@calbt.com
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