Compliance software giant Bankers Systems Inc., St. Cloud, Minn., will link its loan documentation software with an underwriting product from Bisys Group Inc., Little Falls, N.J.
The partnership is expected to provide clients of both companies with a quicker and more accurate way to close consumer, real estate, and commercial loans.
"The linking ... provides added value to both Bisys' and Bankers Systems' customers," said Hal Andrews, vice president of Bankers Systems.
Bisys, with 3,400 clients, and Bankers Systems, with 17,000, expect the deal to attract customers as well as help keep current ones.
Bisys president Paul Burke said his company provides the underwriting tools to lend safely and profitably to new borrowers while Bankers Systems' products help document and rapidly close loans to repeat borrowers.
The product will be available in early 1996.