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12-Jan-04
Contacts: For Immediate Release
Jennifer Schwegman
KC Associates
Phone: (952) 233-0346
E-mail: jennifer@kc-associates.com
Crescent Bank & Trust of New Orleans Selects
SuperSolutions’ Daybreak Lending Suite to Streamline Expanding Auto Financing
Business MINNEAPOLIS, Jan. 12, 2004—SuperSolutions, an Oracle Certified
Solution Provider offering the only comprehensive lending system that automates
all aspects of product financing, announced today that Crescent Bank &
Trust of New Orleans has selected the Daybreak Lending Suite to streamline its
rapidly expanding sub-prime auto financing business. According to
SuperSolutions President and CEO Darshan Karki, “Our unique, comprehensive
solution for origination, servicing and collection offers a seamlessly
integrated solution on a single database for Crescent and its subsidiaries.”
Daybreak is a key element of Crescent’s growth strategy,
consolidating its auto financing business on a single system, including
subsidiaries Silver Oak Services LLC, which services and collects third-party
auto loans, and Crescent Recovery LLC, which focuses on collecting charged-off
debts.
According to Crescent Executive Vice President and Chief
Operating Officer Ed Bourgeois, his organization is replacing its internally
developed, legacy DOS system to take advantage of newer, easier-to-use
technologies and applications. “We wanted a solution with a much broader base
of technical support that would guarantee continuity and scalability as we
continue to seek and experience exceptional growth for our financing business.”
After narrowing the field of possibilities down to three, an
executive team visited various installations for a first-hand assessment.
“Daybreak scored the highest marks in multiple areas,” says Bourgeois. “It’s
completely integrated – from front-end origination through servicing,
collection and charge-off. On the front end, an application received from an
auto dealer is automatically entered into the system, generating a request for
a credit bureau report on the applicant and a NADA evaluation on the vehicle.
That will save us time and money over our current manual process. Plus, the
system’s decisioning capability allows us to build in our own criteria to
evaluate risk.
“On the collection side, Daybreak’s graphical user interface is
extremely user/collector friendly, easy to use and train on,” Bourgeois
continues. “Collections are very important to us since we’re working on
30,000-50,000 car loans at any given time. Daybreak provides a tremendous
amount of information to collectors while on calls.”
Other assets noted by Crescent are Daybreak’s Oracle database
and virtually unlimited scalability to address its plans to grow aggressively
and documentation. “Based on our relationship with SuperSolutions, we are
convinced that we can rely on their industry expertise as we continue to grow
our business around a system that is built on the most current technology,
making it easy to maintain and adapt to our changing needs.”
About supersolutions corporation
Based in Minneapolis, Minn., SuperSolutions Corporation, an Oracle Certified
Solutions Provider, offers the only comprehensive lending system that automates
all aspects of product financing. The Daybreak Lending Suite is a complete
package of loan processing software that automates lending from origination to
servicing and collections. The fully Web-enabled client/server application is
scalable, user-configurable and user-friendly. With Daybreak, finance companies
and banks across the U.S. more efficiently and cost effectively manage consumer
loans, including those for automobiles, recreational vehicles, boats,
motorcycles, home improvement, home equity lines of credit and other specialty
finance requests. For more information, visit
www.supersolution.com
E-mail: sales@supersolution.com
Phone: 800-320-2125.
About crescent bank & trust
Based in New Orleans, Louisiana, Crescent Bank & Trust and its subsidiaries
and affiliates, Crescent Recovery, LLC and Silver Oak Services, LLC are a
leading provider and servicer of subprime automobile financing in the United
States. Crescent originates subprime loans for its own account, and services
and collects its own loans as well as subprime auto loans for third parties.
For more information visit
www.cbtno.com
E-mail: ebourgeois@cbtno.com
Phone: (504) 552-4479.
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