Cypress Combines e-Signature Technology with Mark IV Software to Enable Paperless...
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Cypress Combines e-Signature Technology with Mark IV Software to Enable Paperless Lending for Financial Institutions Developer to Integrate and Resell Topaz Systems' SignatureGem LCD Pads NORTH RICHLAND HILLS, Texas--(Business Wire)--Cypress Software Systems, LP will offer electronic signature capabilities with its Mark IV automated consumer loan decisioning platform, beginning with the software's Release 4.5 that is scheduled for availability in early 2008. As part of the initiative, Cypress has partnered with Topaz Systems Inc. of Simi Valley, Calif. and will resell their SignatureGem LCD pads to banks, credit unions and other financial institutions that want e-signature capability. Lenders can apply e-signatures to a number of required loan documents, including credit applications, Truth-in-Lending (TIL) documents, Good Faith Estimates (GFEs), balloon note disclosures and Underwriting Decision Reports (UDRs). "Today's consumers want a quick and efficient loan application and approval process, and lenders need tools that offer convenience and efficiency to the borrower at the point-of-sale," said Stephen G. Sargent, president and chief executive officer of Cypress Software Systems. "e-signature capability, combined with our automated credit decisioning software, provides that enhanced customer experience, while enabling a paperless, secure and more cost-effective process for the lender." The e-signature feature will be available through Mark IV via signature pads like the Topaz units, and later versions of the lending software will allow more advanced capabilities, including online e-signatures. "Cypress has a firm grasp on the needs of both lenders and borrowers in the financial industry, and they will be a great partner as we expand further into that vertical market," said Anthony Zank, president and chief executive officer of Topaz Systems. "Our products like the SignatureGem LCD pads offer high-quality capture features that ensure a borrower's signature is both clearly and securely acquired during the loan application process." Cypress' Mark IV offers flexible, risk-based processing software for consumer loans that tracks applications from the point of entry to the point of decision. Mark IV lets lenders take loan applications electronically while interviewing applicants, quickly retrieve and interpret credit reports, efficiently review sources of repayment, and deploy their loan policies. This ultimately leads to a quick, automated loan decision. About Topaz Systems, Inc. Topaz Systems is a leading developer and manufacturer of electronic signature software and hardware, and has been based in Simi Valley, Calif. since 1995. Topaz provides all the hardware, software, intellectual property and expertise to enable paperless document creation, signing, and authentication of electronic forms with digital handwritten signatures. Topaz is the recipient of multiple industry awards including six-time consecutive wins of the Deloitte Technology Fast 50 award for outstanding growth, Deloitte technology Fast 500 honors, INC 500, and INC 5000 recognition. 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. Michael A. Burns & Associates Inc. Jeff Green, 214-521-8596 x238 firstname.lastname@example.org or Neil McGlone, 214-521-8596 x230 email@example.com Copyright Business Wire 2008
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