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Mark IV FAQ
TOPICS
System Platform Questions: 1. Is Mark IV a hosted Web application or server-based? 2. Can Microsoft Terminal Services or Citrix thin client solutions be used? 3. How does the hosted option work? 4. How are product updates managed? 5. What happens if we have a problem with the software? 6. What kind of data storage and record retention does your company provide?
Is Mark IV a hosted Web application or server-based? Mark IV is a rich client solution that can either be managed behind your firewall or be hosted by Cypress via its AT&T Internet data center located in Dallas, Texas.
Unlike other, older in-house platforms that use outmoded architectures, Mark IV is designed from the ground up using industry-leading Microsoft tools:
What this means is that Mark IV is built on a proven code base and uses an open database architecture that is both highly scalable and stable.
Can Microsoft Terminal Services or Citrix thin client solutions be used? Yes, with the installation of Windows 2000 Server ® +, you have the option to use either solution. The advantages include:
How does the hosted option work? We offer the option for Mark IV to be hosted in the event your institution chooses not to manage your Mark IV solution in-house. Cypress provides a hosting solution via its AT&T Internet data center (IDC), a SAS70 certified partner. Mark IV is delivered from fully secure, state-of-the-art servers via Microsoft Terminal Services technology.
How are product updates managed? Updates can be downloaded via secure ftp from the client log-in area of the Cypress website, www.go-cypress.com, and only need be performed at the server.
For those not using Terminal Server or Citrix, once users log-in to Mark IV, their workstations automatically pull any available updates. There is no need for IT staff to perform manual updates to workstations.
What happens if we have a problem with the software? An in-house solution means you have ultimate control over your valuable data since it is stored within your walls. This means you have control over security and frequency of access. This also reduces calls to Product Support when Internet lines go down, for example.
If a problem should occur, Cypress has the following solutions in place:
Phone and email support is managed by seasoned technology experts who will work quickly to resolve any problem you may have
What kind of data storage and record retention does your company provide? Length of record retention is defined by your institution. The amount of data storage becomes a function of how much disk storage space is available on your server. The database platform is SQL Server, a highly scalable platform which can provide effectively unlimited record retention. Cypress does provide the ability to periodically archive and/or purge data that is no longer needed.
Credit Bureau Retrieval Questions:
Does Mark IV use the most recent formats for Equifax, Trans Union and Experian? Yes, Cypress uses the most recent formats available from the credit bureaus; these include: Trans Union FFR version 4.0, Equifax ARF version 5.0 and Experian ADS version 7.0.
Use of the most recent formats ensures that you will have access to all of the available ancillary product offerings from the credit bureaus.
How does Mark IV retrieve credit reports? Our preferred approach, and how we designed Mark IV, is TCP/IP system-to-system retrieval. Dial-up remains an option for Equifax, so long as it continues to be available.
The Internet access option allows for bureau requests via TCP/IP protocol. Cypress utilizes TransUnion Net Access ("TUNA"), Equifax Internet System-to-System ("STS") and Experian Net Connect. Credit retrieval occurs in 3 to 5 seconds, on average.
The Dial-up method utilizes a proprietary credit bureau management module that efficiently queues report requests by bureau. This results in a typical retrieval of less than 20 seconds for the first queued bureau and within 10 seconds for all subsequently queued requests to the same bureau.
Does Mark IV parse the credit report? Yes, Mark IV conducts bureau response interpretation, which means that bureau data is parsed into over 150 credit summary attributes that can, in turn, be used for executing underwriting rules and applying an internally-housed credit scorecard.
Can we specify our trade area and only retrieve credit reports on applications from within that area? Yes, you can specify your trade area and limit the number of reports to be retrieved. This can be achieved in two different ways. Zip Code entry parameters can be set up within Mark IV. Or, Mark IV has the ability to automatically decline any applications that are received outside your acceptable zip code areas
Internet Capabilities Questions:
Can customers apply for a loan via the Internet? Yes, your customers can apply over the Internet with their information being downloaded to Mark IV using the optional WebApp module. See a more thorough description of Cypress WebApp in under the Services menu.
The WebApp module consists of an SSL secured credit application entry screen.
Will the Internet loan application display my institution's name? Yes, the web application will be "private labeled" and will therefore have your Institution's website look and feel.
Is customer validation through public key infrastructure available? Yes. Customer validation is available through the SSL certificate set up on your web server. If you don't have an SSL certificate, we can help you obtain and configure one.
Is there a "flag" to tell officers that there is a web application awaiting review? Yes. Loan officers would find applications that have not been assigned an automatic decision in their underwriting work queue marked with an Internet origination source.
Loan Types Supported Questions:
What types of loan products are supported? Your are able to deploy an unlimited number of loan types in Mark IV. Supported products include the following:
Vendor Interfaces Supported Questions:
Does Cypress Mark IV have an export interface to document preparation systems? Yes, Cypress has a user-definable ASCII text export capability that may be used in conjunction with a programming script to pull desired information into most document preparation systems.
Does Cypress have pre-built export interfaces? We have document preparation interfaces for the following products:
We are working with other vendor partners in adding to this list. Please call and ask if you have a specific concern.
Does Cypress have import interfaces to core systems? Yes. We have import interfaces to the following products:
Application Entry and Underwriting Functions Questions:
How long does it take to process an application once the data has been entered? In a fully automated environment, it takes approximately 1 to 2 minutes, including the time to enter the application.
Are there separate, centralized output queues for denials and loans requiring additional approvals? Yes, the Mark IV functions are separated into various work queues that include virtual file folders and work areas for loans that have been declined, approved, conditionally approved or for loans that require manager-level sign-off.
What types of security levels and user profiles are available and how are they maintained? Within the ADMIN area of Mark IV, there is a User setup tab. It is here that each Mark IV users' access rights are defined by the following:
How are duplicate applications identified and treated? Mark IV will perform an automatic check for duplicates prior to credit bureau retrieval; duplicates are identified by name, address and/or SSN. You also have the option to determine the length of time between applications that defines an application as a duplicate.
Is there a fraud check or other identity checking capability? Yes, the Mark IV offers the following solutions:
Can required fields be specified? Yes, Product Support can work with you to define required entry fields in Mark IV. Required entry fields are identified with a yellow background and the user will not be allowed to exit that screen until those fields are completed.
Can fields be auto-populated for existing customers? Yes, as long as the applicant information is already within Mark IV (an existing older application record), the user can search for a matching application record by name or SSN. If a match is found, the user can then tell Mark IV to copy applicant, co-applicant and credit report information from the existing application into a new application record. Also optionally available is an import capability for Jack Henry SilverLake and Fiserv ICBS whereby existing CIF, deposit account and credit information can be pre-populated into a new Mark IV record.
Can underwriting criteria that is input into the system be changed by me or does it have to be done by Cypress? Underwriting criteria including credit policies, scorecards and pricing matrices can be changed by you. Mark IV was developed to be very user-friendly as well as flexible enough to accept different loan policies for all loan types. At implementation, we will assist you with populating the various policies of your Institution. On an ongoing basis, it is very simple for an administrator to modify the underwriting criteria.
Reporting Capabilities Questions:
What kinds of reporting capabilities are available? Cypress offers canned reporting to help manage individual applications, operations and scorecards.
Is there a capability for producing custom reports? Yes, Mark IV includes a field export function that allows you to pick any or all application and credit bureau fields for export to build your own reports using Excel or Microsoft Access. Crystal reports or similar data access tools can also be used to produce custom reports.
Click here to download or view the reports offering PDF file for descriptions of the pre-defined operations and score management reports available in Mark IV.
Availability Questions:
Is there an International version of Mark IV available? Yes, Mark IV International Version is available for English-speaking countries.
Do you have a Spanish version available? While Mark IV entry and work screens are not available in Spanish, Spanish language versions of the credit application and decline letter sections are available.
Is a trial basis available? While we do not offer Mark IV on a trial basis, we are willing to be flexible with our Agreement to best fit your Institution's needs.
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Optional Modules
Mark IV Testimonial
"With all of its features, we felt Mark IV would position us to make quick and accurate decision." David Sterling, Extraco Banks
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