Blue Prism Partners with Lateetud to Automate Second Round of SBA PPP Funding

Intelligent Automation Solution Powered by Blue Prism and Microsoft Helps Small Businesses Survive the Pandemic

LONDON, AUSTIN TX – February 2, 2021 — Blue Prism (AIM: PRSM) and Lateetud are partnering to offer a turn-key, SaaS solution for fast tracking loans offered as part of the Small Business Administration (SBA) Paycheck Protection Program (PPP). By accelerating the loan application and forgiveness process, this cloud-based solution reduces processing time from weeks to just a few hours, helping small businesses stay afloat during the pandemic.

With $284 billion in new funding just approved, providing economic relief for American workers, families and small businesses is mission critical. The Lateetud solution maximizes the benefits of Blue Prism intelligent automation, Microsoft Power Platform, and Azure Form Recognizer, an Azure Cognitive Service within the Azure AI platform, to automate the entire end-to-end loan origination and forgiveness process, giving banks and SBA lenders the intelligence needed to make complicated decisions faster.

The joint solution supports:

• Expedited processing: validate, calculate, record, submit, track requests in minutes, not days.
• Business transparency: real-time reporting and insight into current processing time, staff utilization, as well as case status and load.
• Content intelligence: convert unstructured documents into structured, usable content for further processing.
• Increased efficiency: execute fast and accurately with a digital workforce complementing existing employees.
• Full case management: orchestrate unpredictable circumstances; achieve optimal outcomes and efficiencies.
• Enterprise security & scalability: produce a full audit trail with 100% compliance & accuracy.
• Web and mobile customer front-end: collaborate with customers and lending staff efficiently via intelligent chatbot.
• Production-ready deployment: deploy in 48 hours, on-prem or in Microsoft Azure.