SMB Assistance Loans

Business Challenge

  • Monumental Loan Volumes- Loan Origination volumes for such special loans are unprecedented
  • Need for rapid Rollout- Lender banks/credit unions don’t have the necessary IT teams to spin up new processes quickly
  • Remote Access to Loans - Given the prevailing pandemic situation, remote access to loans is mandatory
  • Compliance Obligations - Regulations to minimize fraud and ensure visibility into the risk being underwritten
  • Need to Build for Change With the Government policies changing almost on a daily basis, ability to adapt to change is a must
  • Future Proffing - Systems limitations to cater to similar situations in the future

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Solution Benefits

  • Fast Track Loan Originations by 40-50% Gain immediate capacity via straight through processing
  • 100% Transparency Ensure accuracy and transparency to regulators
  • 25-30% Reduction of Errors Leverage automation through OCR, e-signatures, sanction checks to reduce h
  • Mitigate Credit Risk by >30% using AI/ML via data-driven and predictive models

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SMB_Solution_Overview

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