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Automate your SBA PPP application process to reduce cycle time by 60%
Banks and financial institutions are seeing an increase in demand for their offerings and a surge in customer call volume during this time of change in the economic landscape. Small businesses constitute a major driving force in the U.S. economy, with about 30.2 million small businesses employing close to 59 million people, comprising 99.9% of all United States businesses1. There is an urgent need to get small businesses the desired assistance to keep their payrolls running. As of April 7, 2020, the Small Business Administration (SBA) has recorded over 220,000 loans totaling approximately $66 billion2.
To help banks address the demand, Virtusa has built a multi-part framework that combines business process and technology across payment assistance, deferred loan assistance, fee suppression, SBA PPP processing and foreclosure/repossession. This enables banks to divert calls away from their customer service centers and manage customer engagement and product servicing in the most efficient way.
Virtusa Self Service for Paycheck Protection Program can be deployed within 2 days.
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Launch and deploy within 2 days.