Communication Solutions

Looking to automate the credit card bank’s consumer credit card application process, TCM Bank, a subsidiary of the Independent Community Bankers of America (ICBA) and ICBA Bancard, has chosen Cypress Software Systems LP’s Mark IV software. Cypress will deploy Mark IV via its hosted application service provider (ASP) model with the bank.

 

Cypress’ Mark IV is a software platform that automates the consumer loan application and decision process. Application information can be electronically input with the help of Mark IV and the software then quickly retrieves credit reports. It also reviews sources of repayment in an efficient manner and deploys the institution’s loan policies. As a result, the customers of the solution get a fast, quality loan decision, saving lots of time and labor.

 

As Mark IV automatically transfers applicant data to the bank’s credit card processing system, it reduces the amount of data entry that TCM Bank performs. The software also allows TCM Bank to integrate several data sources and look beyond an applicant’s credit score during underwriting. As more and more customers are looking for credits with the ongoing economic downslide, compiling a complete credit picture for applicants before the decision is made is almost a godsend for the financial institutions. Mark IV easily assembles and reports that information.

 

By opting for Mark IV clients, the TCM Bank can offer the hosted version of Mark IV as an alternative to its licensed version. This enables institutions like TCM Bank to realize the full potential of the technology

 

“There aren’t many application processing solutions that could handle our needs, but Cypress’ Mark IV offers the flexibility we require to manage credit card applications for our agent banks across the United States,” said Tim Kaliban, executive vice president of TCM Bank. “We were very impressed with Cypress’ lending knowledge and personal interaction with our management team. Mark IV should help us significantly increase our processing efficiency and reduce our costs to originate new credit card accounts.”