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March 10, 2009

Bank of the Cascades selects Cypress’s Mark IV loan software

The software retrieves credit reports, analyses repayment capacity and deploys the loan policies

By CBR Staff Writer

Bank of the Cascades, a subsidiary of Cascade Bancorp, has chosen Cypress Software Systems’s Mark IV loan software to automate and grow the bank’s consumer loan operations.

In addition to Mark IV, the integrated application includes the Harland LaserPro document preparation interface for downstream data flow; the Jack Henry-Silverlake interface to the bank’s core system and Cypress’s new account setup module which captures all the loan setup information within Mark IV, said Cypress Software.

According to Cypress Software, its Mark IV is a software platform that automates the consumer loan application and decision process, and helps institutions with risk management issues. With Mark IV, service associates electronically input application information, while interviewing customers. The software then retrieves credit reports, analyses the capacity for repayment and deploys the institution’s loan policies.

Ahjamu Umi, vice president of consumer lending at Bank of the Cascades, said: he expects all branches to be up and running by April; concurrently, the bank is completing development of its lending policies and procedures that will be executed by Mark IV. The rollout will enable Bank of the Cascades to expand the lending process from the traditional loan officers to its front-end employees, referred to as relationship bankers.

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