Fleet Expands Alliance With Cybertek

Fleet Mortgage Group, Columbia, S.C., has announced an expanded alliance with Cybertek, a Dallas-based software application company, to develop a "next-generation" mortgage origination product.The product, Compass-LX, will incorporate the business rules and infrastructure of Fleet's proprietary Compass system into Cybertek's existing LoanXchange platform, Fleet said. The company said key members of its technical and business analysis team will become Cybertek employees with responsibility for implementing the combined system. "We have found the ideal solution to our technology needs by leveraging the best of two existing systems," said A. William Schenck, Fleet's chairman and CEO. Cybertek is a wholly owned subsidiary of Policy Management Systems Corp. Cybertek's website address is http://www.cybertek.com and PMSC's is http://www.pmsc.com.