SBA PPP documents automation and OCR processing solution for lenders
Are you a financial institution suddenly receiving hundreds of thousands or even millions of documents you have not needed to process before?
We can help with out-of-box same-day automation.
Are documents coming in by different methods and from different channels such as website portal uploads, faxes, e-mail attachments, and paper?
We can automate all input methods.
Lacking staff or technology to automate your document processing?
WE can provide all technology and staff as quickly as the next day.
Recent government programs like PPP (Paycheck Protection Program) empowered the Small Business Administration (SBA) to provide loans. But the back-office operation and all the overhead that comes with it was passed onto the banks. No wonder the process has been slow, confusing and arguably broken. If you think of it, literally overnight, now every bank needs to find staff and computing power to handle this new data inflow.
WiseTREND Advanced OCR & Data Capture provides powerful Optical Character Recognition (OCR) in partnership with ABBYY™ software powered by Artificial intelligence (AI) to automate the capture, collection and processing of images, as well as performing data extraction and data validation. Our software is pre-configured to process forms like IRS940, IRS 941, and all other documents required by the process. We have many years of mortgage processing, loan origination and financial document processing. Now all this know-how and technology is available for PPP loan processing automation.
Our software will receive input from your customer, process it, check for errors, auto-fix some errors, escalate to operator review if human assistance is needed, and export the data to your backend databases. No data entry or typing required. The process generates a full audit trail as well as productivity and performance reports.
We also provide complete offsite processing and full automation through our SOC-2 certified Managed Services and cloud-based processing. We can empower your organization to start processing of all supporting loan documents
Forms IRS 940 and IRS 941 Processing and Automation for SBA PPP by WiseTREND
Please contact WiseTREND for a live demonstration.