Marc Andrews of Pegasystems: Automation Key to Banks Keeping Up with Huge Number of PPP Submissions
b'With Congress passing a new $480 billion round of funding, including $310 billion for PPP, banks are about to get deluged with new submissions from small businesses in dire need of money to help them survive the economic shutdown caused by Covid-19 pandemic. And the crush of submissions during the first round of PPP funding brought many of the banks to a standstill as much of the processing of those applications were done manually.\\n\\nIn response to the current situation, Pegasystems - a leading platform provider for digital process automation, and business process management and CRM - developed the Crisis Small Business Lending app. The service is designed to help their banking customers speed up the PPP submission responses by automating different parts of the process. And earlier this week I had a chance to learn more about how automation could significantly speed up the PPP process by speaking with Marc Andrews, Vice President, Financial Services and Insurance Industry Market Leader for Pega.'