Lake City Bank processes and products

Lake City Bank has chosen Cypress Professional Services (CPS) to evaluate the bank’s small business lending processes and products, and perform a series of enhancements that increase productivity and efficiency in the institution’s lending operations. During the three-day project, the CPS team performed its Strategic Configuration Assessment service, evaluating and reconstructing Lake City Bank’s small business lending rules, database and products, and integrating those changes with the bank’s existing installation of BizMark, Cypress’ small business lending platform. The bank consulting project also included additional training for Lake City associates from its four commercial loan regions and its small business underwriters. With the improvements, Lake City Bank has witnessed faster turnaround time on loan decisions and an overall smoother operational flow. The enhanced system also has allowed bank management to increase the maximum funding limit on their small business loans from $50,000 to a goal of $250,000 per loan. (Lisa Bicknese, assistant vice president and loan product manager at Lake City Bank.)