Appian (NASDAQ: APPN) today announced an application that enables banks to accept and manage PPP loan applications from small businesses, support their unique servicing requirements, and ensure compliance for Payment Protection Program loans under the new CARES Act. The new application can be live in just days, and can be quickly extended with advanced automation features including RPA and AI-powered intelligent document processing. Appian will host two webinars on these topics.
The Coronavirus Aid, Relief, and Economic Security (CARES) Act’s $350B Paycheck Protection Program (PPP) provides loans to small businesses for the purposes of maintaining payroll and employing workers during the pandemic. Small businesses need rapid approval and access to these funds. Financial institutions must respond with fast, efficient processes.
Appian’s application supports the full lifecycle of a new PPP loan through the Small Business Administration (SBA):
“The PPP is a massive and unprecedented federal program, and it is evolving on a day-to-day basis,” said Michael Heffner, VP of Global Industries. “Appian’s low-code automation platform gives banks the flexibility to build fast and adapt to these changes. We enable them to automate their manual and hard to manage processes, which is critically important in this current environment of distributed workers.”
The application is available for purchase and can be implemented by Appian or by any of Appian’s Global Strategic partners.
Appian will host two webinars featuring industry experts who will discuss the Act and how it challenges banks to respond. The webinars will feature a demonstration of how Appian can automate new PPP-related processes:
Thursday, April 9 at 1pm EDT
“Virtual Fireside Chat: Ensuring Readiness to Support the Paycheck Protection Program”
Appian’s Marc Wilson, Founder and SVP of Global Partners and Industries, and Michael Heffner, Vice President of Global Industry Leads, will discuss:
Register for the Fireside Chat at https://ap.pn/3c1PBgu.
Wednesday, April 15 at 10am and 4pm EDT
“Supporting the Payment Protection Program with Appian: Standing Ready in Times of Urgent Need”
Join Michael Heffner, Vice President of Global Industry Leads at Appian, for an overview and demonstration of how Appian can support financial institutions during this ever-evolving situation. Based on our Low-code Automation Platform, Appian offers a PPP application that can be implemented in a matter of days to:
Register for the webinar at https://ap.pn/2Rko6a7.
The Appian Low-code Automation Platform allows global financial services leaders such as Barclays, Credit Suisse, S&P, OCC, Santander, and more to rapidly adapt to changing market conditions and regulatory requirements. From new business and lending to operational effectiveness and GRC, Appian delivers transformational applications at the speed of low-code.