CoreStates Selects Small Business Lending System; Super Regional Chooses 20/20 Small Business...

BATON ROUGE, La.--(BUSINESS WIRE)--Dec. 19, 1994--CoreStates Financial Corp, a $27 billion regional bank, has selected the 20/20 Small Business Lending System by APPRO Systems to automate credit evaluation for its small business lending operations.

The selection of 20/20 represents

The 20/20 Small Business Lending System is a complete turn-key software package that automates the risk evaluation for small business loans. The system merges the personal credit and financial profiles of a business and its owners, providing a complete and accurate profile.

"What attracted us to the system was its flexibility and the fact that it's client server-based," explained Linda Weber, Vice President, Manager Retail Risk Technology for CoreStates. "We can adapt the system to re-engineer our workflow instead of changing our operations to fit the needs of the system. We can enhance the system to the way we need to serve our customers."

Headquartered in Philadelphia, CoreStates' retail operations serve the mid-Atlantic region with the bulk of its branch network in Pennsylvania and New Jersey. 20/20 will be implemented at CoreStates' three main financial locations in Philadelphia, Pennington, New Jersey and at its corporate and commercial credit card center in Wilmington, Delaware. The system is scheduled to be up and running by the first quarter of 1995.

"It was important for us to choose a system that takes advantage of the latest technology and is still easily configured to our customer and credit culture," Weber continued. "It's also important that the system is supported by a company able to customize the software to meet our needs."

"We are very proud to provide CoreStates the tools to help them meet their goal of providing quality customer service," explained Craig Uffman, Vice President of APPRO Systems. "Small business lending is a challenging and profitable niche within the industry. 20/20 helps banks realize that profit while reducing risk."

APPRO Systems Inc. was founded in 1979 and is privately held and managed. The company's family of credit assessment products is used by more than 55 financial institutions nationwide.

Along with the 20/20 Small Business Lending System, APPRO's products include its flagship MP-100 Risk Processor, a complete assessment package for consumer lending that evaluates multiple products and applicants, and the APPRO Auditor, an automated indirect loan closing package. Among APPRO's clients are Bank of America, Crestar Bank, Premier Bank, Seafirst Bank and Snap-On Tools.

APPRO Systems Inc. is headquartered at 9489 Interline Avenue, Baton Rouge, La. 70809. For more information, contact Amanda Wesley, Communications Director, at 504/922-4792 or by fax at 504/922-4777.

CONTACT: William Mills Agency, Atlanta

              Mark Wheeler, 404/261-4900
                    or
              CoreStates Financial Corp., Philadelphia
              Linda Weber, 215/786-4810