Mississippi's Deposit Guaranty to Use AFS&LSC Commercial Loan System

Deposit Guaranty National Bank of Jackson, Miss., has agreed to use software from AFS&LSC to handle commercial, consumer, and revolving loans.

The Level III Lending System streamlines loan processing by handling both the commercial and retail sides of a bank's business.

"It's going to be significantly more efficient for us," said James S. Lenoir, executive vice president and chief credit officer at the $6.7 billion-asset bank.

Along with improving operations, Deposit Guaranty expects the new system "will help our bottom line, not only in reduced expenditures but also (in) enhanced revenues," Mr. Lenoir said.

The revenue enhancement is expected as credit employees are given access to information that can help them sell and package loans better.

"Deposit Guaranty, like most banks, is trying to cope with consolidation," said John H. Shain, president of AFS&LSC.

AFS&LSC is a leading vendor of commercial lending systems, especially among the top 100 banks. The Exton, Pa., company has been selling its Level III integrated solution for more than five years.

"They have been the market share leader," said Bill Bradway, a principal at Meridien Research, a Needham, Mass., consulting firm, "but their position in the market has been kind of eaten away due to consolidation" in the banking industry.

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