Guaranty Bank, a subsidiary of Guaranty Financial Group, has selected Cypress Software Systems’s Mark IV software to automate the bank’s consumer loan operations.
Cypress Software installed Mark IV in summer 2008 in the bank’s retail loan center. The software helps Guaranty’s loan officers process consumer credit requests for all of its 160 banking centers across Texas and California, said Cypress.
By the first quarter of 2009, Guaranty also plans to deploy Cypress’s 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, added Cypress.
Monica Maguire, senior vice president and director of the retail loan center at Guaranty Bank, said: 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’s Mark IV was the answer. 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.