Software platform automates the consumer loan application and decisioning process.
Year-Over-Year Revenue Growth Increased 40 Percent in 2007;
Financial Institutions Continually Turn to Cypress for Loan Decisioning Software
North Richland Hills, Texas – Jan. 30, 2008 – Cypress Software Systems,
LP, which experienced record sales in 2007 with revenue growth of 40
percent and earnings increasing 117 percent, signed 26 new customers
signing 32 new contracts for the company’s automated loan decisioning
software.
“Despite an apparent economic slowdown—driven largely by the mortgage
crisis in the financial services sector—Cypress has witnessed no ill
effect, because our clients, who are largely in the banking and credit
union industries, use our software during tough times to ensure quality
loan decisions are made, thereby controlling the potential for loan
losses,” said Stephen G. Sargent, president and chief executive officer
of Cypress Software Systems. “The records that we set are an
illustration of the quality of our products, services and personnel
that drive our continued growth. We’re looking forward to an even
better 2008.”
Cypress’ products include Mark IV, 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 reviews sources of repayment, and deploys
the institution’s loan policies. The result is a fast, quality loan
decision.
Similarly, the company’s BizMark software processes small business loan
applications, enabling lenders to efficiently handle small business
commercial credit requests for lines of credit, term loans, corporate
leases and corporate credit cards. The software gathers principal and
financial statement data; retrieves and interprets consumer and
business credit reports; performs ratio analysis; and scores the
results.
Cypress’ AppMark product is designed for community banks with assets of
$250 million or less, automating all aspects of the consumer loan
application process from data entry to underwriting to decisioning. The
software is hosted and delivered through Cypress’ application service
provider (ASP) network, eliminating the need for Cypress clients to
purchase additional hardware, software and IT staff to run and maintain
the application.
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.
Media Contacts:
Jeff Green
Michael A. Burns & Associates Inc.
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(214) 521-8596 x238
Neil McGlone
Michael A. Burns & Associates Inc.
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(214) 521-8596 x230
Cypress Software Systems Closes Record Sales Year
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