Responding to the bank downsizing trend, CyberResources Corp. made its loan collection and recovery software available on an IBM platform.
Many banks are switching from mainframe systems to a distributed computer environment. The company expects the move to different hardware will result in a demand for new systems.
The systems, CyberCredit and CyberRecovery, have been installed in institutions such as Bank of America, Citibank, Wells Fargo, National City Bank, and Liberty National Bank, Louisville.
CyberCredit is an automated on-line collections tracking system that generates reports and manages records. CyberRecovery is a debt-recovery application aimed at increasing charged-off debt recovery and reducing collection times. It lets the user track asset allocations and recovery costs.
CyberResources is based in Mountainside, N.J.