Accelerating SBA PPP Loans with Blue Prism Digital Workers

Banks were inundated with thousands of loan requests daily under the $359 billion Paycheck Protection Program (PPP) in support of the Small Business Administration (SBA) COVID-19 relief efforts. The SBA estimated that there were more than 14 years of loans processed in less than 14 days. Now, a new round of funding is coming.

To keep up, loan officers worked around the clock to manually review, verify, approve, and enter data into the SBA E-Tran application portal for approval -- a laborious, time-consuming, and error prone process.

Leading the way, Blue Prism together with partners Lateetud and ABBYY provided an end-to-end solution to automate SBA PPP loans. This solution has already helped many banks handle the massive surge in PPP applications from their customers.

In this webinar, learn how a national bank utilized Blue Prism and ABBYY technologies in a Lateetud solution to:

  • Complete loans application and approvals in under 2 minutes using Digital Workers
  • Go live in < 48 hours
  • Save ~100,000 jobs by rapidly providing relief for U.S. small businesses
  • Scale a digital workforce for support of other critical financial services

Can't see this content? That's probably related to your cookie preferences. 

Or click on the link below to view it externally.

View this content on BrightTALK

The Latest From Blue Prism

A Digital Workforce for Every Enterprise

The world’s largest enterprises rely on the Blue Prism digital workforce to optimize production processes, increase profitability and enhance customer experiences. Learn how our smart, secure, scalable and successful digital workers can transform your business through intelligent automation. The future of work starts now.

Get Started Free Trial

©2021 Blue Prism Limited. “Blue Prism”, the “Blue Prism” logo and Prism device are either trademarks or registered trademarks of Blue Prism Limited and its affiliates. All Rights Reserved.