The Coronavirus Aid, Relief, and Economic Security (CARES) Act’s Paycheck Protection Program (PPP) provides loans to small businesses for purposes of maintaining payroll and employing workers during this pandemic. Small businesses expect rapid approval for full and appropriate access to these funds. Financial institutions are facing an unprecedented challenge to handle the increased volume of applications in an environment where workers are often remote.
Based on our Low-code Automation platform, Appian offers a PPP application that can be implemented in a matter of days to support this need:
- Rapid creation of a digital entry point
- The ability to generate business rules specific to the PPP
- Fraud management by detecting multiple applications from the same borrower or from a nonexistent business
- Integration with existing bank systems of record and with industry standard tools like DocuSign, OCR, etc.
- Deployment on-prem or in Appian’s managed cloud depending on bank’s needs
Michael Heffner, Vice President of Global Industry Leads gives an overview and demonstration of how Appian can support financial institutions during this ever-evolving situation.