zoominfo

Success Testimonials

Intelligent Loan Processing Automation Unleashed Agile, scalable, resilient and cost-efficient Hyperautomation

SBA PPP Loan Processing End-to-End Automation

Base Solution - 24-48 Hrs.
Legend
Custom Automation - T&M
boxicons1
PPP Loan APplication Submission

SMB Applicant Submits PPP Application and Supporting Documents.
Documents are captured via:

  • Central Email Box (organic signature)
  • Website Power Forms (electronic signature)
  • Other Sources (Database, CSV, XML, etc.)
boxicons2
AUTOMATED EXTRACTION & VALIDATION

Via Email Box: Robotic Process Automation (RPA) reads email, downloads attachments and feeds Abbyy Data Extraction
Documents are captured via:

  • Via Website Or Power Form: RPA extracts documents from Website or Power Form
  • PPP Form Data is automatically extracted by Abbyy Data Extraction
  • Via Database/CSV: RPA extracts data automatically
  • RPA Performs basic validation and underwriting tasks.
boxicons3
AUTOMATED DATA-ENTRY & INTEGRATION

Once the Applicant Data attributes are extracted and validated, RPA automatically processes loan in the SBA ETRAN system, conquers Authorization ID and pushes documents to Document Repository of preference.
When configured RPA processes downstream tasks such as: Fraud Review, LOS Adjustments, Servicing, etc.

 
   
    
  
    
  
  • RPA can perform all data-entry and/or structured downstream tasks within your LOS
  • No integrations required as RPA processes through UX as a human
       
ppinfo
  • RPA can perform all data-entry and/or structured downstream tasks within your LOS
  • No integrations required as RPA processes through UX as a human

Success Metrics

1 Application processed in 45 sec. – 2 Minutes End-to-End

metrics1

1,440 Applications
processed in a day

metrics2

4,000 Applications
processed in a day

metrics3

7,000 Applications
processed in a day

How it works

worksicon1

Cognitive Data Extraction

The process begins with the Digital Worker (RPA Robot) sorting inbound emails and/or portal submissions to acknowledge Loan Applications and attachments to ensure completeness against SBA guidelines. It then reads and extracts the Data coming from the PPP Application Form (Borrower Application), Payroll Reports and supporting documents (Payment Files, Tax Returns, CRA, etc.) and when needed, sends the data to the ABBYY NLP engine to complete the extraction with high accuracy levels. Finally proceeds to send validated forms back to the borrower for Electronic Signature.

  • workslogo1
worksicon2

Robotic Processing

Once the Digital Worker (RPA Robot) has all the data it needs, it will make initial underwriting decisions and apply basic business rules to either accept, request more information/clarification or "hard decline" the loan application. This is achieved by configuring the rules, conditions and evaluation steps in accordance to the guidelines set by the Small Business Administration (SBA). Thus, saving valuable labor hours and avoiding errors in sorting and accepting applications by your human workforce.

  • workslogo2
  • workslogo3
  • workslogo4
worksicon3

E-Tran LOS Automation

Finally, the Digital Worker will prepare the data exactly as the ETRAN SBA System requires. It will then either log-in as a user or leverage ETRAN SBA's API, once logged-in it will access E-Tran's origination module and proceed to enter the prepared data as a human would (virtual keystrokes) into the SBA Electronic Lending platform to submit for review, and to secure Loan Application Authorization. When needed the Digital Worker (RPA Robot) will escalate exceptions or errors to the Human Workforce, otherwise, it will finalize on-boarding to seek final approval.

  • workslogo5
Ina
(Online)