How Rapid Automation Streamlines SBA PPP Loan Applications & Forgiveness

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:

  • Expedited processing

    Validate, calculate, record, submit, and track requests in minutes

  • Content Intelligence

    Convert unstructured documents into structured, usable content for further processing

  • Production-ready deployment

    Set up in days, on-prem or in your existing cloud platform of choice (Azure, AWS, Google)

  • Increased efficiency

    Execute quickly & accurately with a digital workforce that complements existing employees

  • Full audit trail

    Provides 100% compliance & accuracy, enterprise security, and fraud detection

  • Web and mobile customer front-end

    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.


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