The passage of the Coronavirus Aid, Relief, and Economic Security (CARES) Act in the U.S. has prompted thousands of businesses and homeowners to seek financial relief from the uncertainties driven by the global pandemic.
As the number of applicants seeking relief continues, lenders are struggling to keep up. Overwhelmed with collecting and validating documents, determining eligibility criteria, and processing requests, lenders face backlogged applications and their customers experience slow response times.
ABBYY, in partnership with Blue Prism, Bizagi, and Lateetud automates the entire end-to-end mortgage and SBA PPP loan relief application and submission processes, resulting in:
Validate, calculate, record, submit, and track requests in minutes
Convert unstructured documents into structured, usable content for further processing
Set up in days, on-prem or in your existing cloud platform of choice (Azure, AWS, Google)
Execute quickly & accurately with a digital workforce that complements existing employees
Provides 100% compliance & accuracy, enterprise security, and fraud detection
Collaborate with customers and lending staff efficiently via intelligent chatbot
Watch this webinar to see how rapid automation can help you streamline loan applications and forgiveness.