Cypress Software Unveils AppMark for Community Banks

Cypress Software Systems, LP has introduced AppMark, an affordable, hosted loan application processing solution for community banks with assets of $200 million or less.

The software is available through Cypress' new application service provider (ASP) network, meaning clients won't need additional hardware, software or IT staffing to run and maintain the application. AppMark delivers the same look and feel of Cypress' flagship consumer lending solution, Mark IV, but is modified to only include the features and functions that are most required by community banks.

Clients access AppMark through remote login, providing a rich, smooth interface compared to HTML-coded, browser-based applications. Cypress will manage the software and customer database information through an SAS70-certified AT&T Internet data center (IDC) in Dallas.

The licensing structure for AppMark includes a quarterly service charge, as well as an initial setup fee to cover required Microsoft licenses. The software's monthly processing volume is limited to 500 applications under the basic plan, and Web-based employee training is included.

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