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:
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