Guaranty Bank (Austin, Tex.), a subsidiary of Guaranty Financial Group Inc., will deploy Cypress Software Systems LP's (North Richland Hills, Tex.) Mark IV software to automate its consumer loan operations. Mark IV is a software platform that automates the consumer loan application and decisioning process.
Cypress Software installed Mark IV this summer in the bank's Retail Loan Center. The software is helping 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, which allows banking center associates to submit consumer loan applications online directly to the Mark IV system. The bank will also use WebApp in its program lending area, enabling acceptance of consumer credit applications referred by companies participating in Guaranty's Program Lending.
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.