TCM Bank Chooses Cypress for Consumer Credit Card Application Process Automation

TCM Bank, a subsidiary of the Independent Community Bankers of America (ICBA) and ICBA Bancard, will automate its consumer credit card application process with Mark IV consumer loan automation software from North Richland Hills, Texas-based Cypress Software Systems.

The bank, headquartered in Tampa, Fla., selected Mark IV to service its 600 community bank clients around the country. Cypress will deploy Mark IV via its hosted application service provider (ASP) model, thus eliminating upfront hardware costs for TCM Bank, while providing the bank management with full systems control.

Cypress' Mark IV is a software platform that automates the consumer loan application and decisioning process. With Mark IV, service associates electronically input application information and the software then retrieves credit reports, reviews sources of repayment and deploys the institution's loan policies. The result is a fast, quality loan decision.

TCM expects Mark IV to reduce the amount of data entry that it performs by automatically transferring applicant data to the bank's credit card processing system. The software also allows TCM Bank to combine several data sources and look beyond an applicant's credit score during underwriting.

Peggy Bresnick Kendler has been a writer for 30 years. She has worked as an editor, publicist and school district technology coordinator. During the past decade, Bresnick Kendler has worked for UBM TechWeb on special financialservices technology-centered ... View Full Bio