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Bank of the West Selects Custom Credit Systems' Commercial Lending Software

Posted on: Tuesday, 17 February 2009, 08:22 CST

Automating syndications servicing process cited as factor to enhance performance

RICHARDSON, Texas, Feb. 17 /PRNewswire/ -- Custom Credit Systems (CCS), a provider of integrated, end-to-end, credit processing and maintenance systems for small business and commercial loan processing, announced today that Bank of the West has selected its commercial lending automation software to support its loan servicing needs in its syndications business. Bank of the West is one of the largest commercial banks based in the Western United States with $67 billion in assets.

The CCS module will allow Bank of the West to increase loan-processing volumes without additional staff as well as reduce the time needed to train new staff. These benefits are the result of the module's ability to support an integrated credit-processing platform that consolidates functions formerly performed with separate tools.

"We are excited about the opportunity to work with Custom Credit Systems to streamline our syndications servicing processes," said Randy Roberts, Bank of the West's executive vice president, commercial loan and payment services. "In these highly competitive times, our ability to efficiently and effectively serve as the agent bank for large commercial credits is critical, and we believe the joint efforts of our teams will enhance our performance in this area."

The platform performs accounting functions on a commercial bank's obligation hierarchy, and it can mirror the hierarchy of each member's pro-rata share through propagation of booking. The module can also facilitate the communication of credit status throughout the processing lifecycle. Some of the functionality of the module includes the booking of AFS financial transactions; maintaining member contact information and other information related to the members; re-pricing processing and booking of AFS transactions; documenting financial transactions and provisions of a tickler system to organize and plan future tasks.

"We are pleased to add a well established and respected financial institution such as Bank of the West to our ever growing client base," said CCS President and CEO Brian Shaw. "Our syndications module more efficiently gathers data required to maintain the credit portfolio. The tools used throughout the system are powerful and can be configured in ways other tools cannot. The module also supports future scalability and increases confidence that future business needs can be met."

"Bank of the West's ability to lead syndicated transactions is only as good as our ability to successfully meet the operational requirements associated with these deals," Ted Dunn, Bank of the West's senior vice president, syndications, explained. "The basic blocking and tackling of tracking a lender's share of fundings, remittances and notifications are the core requirements of being able to deliver on a syndicated facility. With the implementation of the CCS syndications processing software, and the ongoing excellent support by the commercial loan processing team, we will be well positioned to maintain our reputation as a lead administrative agent."

About Bank of the West

Founded in 1874, $67 billion-asset Bank of the West is one of the largest commercial banks based in the Western United States. Bank of the West offers a full range of commercial, trust, international and personal banking services. The bank currently operates more than 700 commercial and retail banking locations in 19 Western and Midwestern states. Bank of the West is a subsidiary of BNP Paribas, one of the world's six most highly rated banks. For more information visit www.bankofthewest.com.

About Custom Credit Systems

Custom Credit Systems is a premier provider of integrated, end-to-end, straight through credit processing and credit maintenance systems, via its CustomLender(R) product suite and other specialty modules. Custom Credit Systems has supported the unique needs of the leading financial institutions in the United States for over 19 years. Several top ten financial institutions in the United States use Custom Credit Systems products to streamline their operations, provide better customer service and enhance their return to shareholders. The company is also a leading innovator of technology to support the complex processing needs of the financial services industry.

For more information visit the company's Web site at www.customcreditsystems.com.

SOURCE Custom Credit Systems

Source: PR Newswire

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