EY US (EY) has developed a Paycheck Protection Program (PPP) Loan Forgiveness Platform built on Microsoft technology, so that banks at this critical juncture in the US economic recovery can efficiently meet the increasing demands across the end-to-end lending process required by the unique provisions outlined under the CARES Act.
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As lenders face record demands surrounding forgiveness requests under the CARES Act, EY has developed an intuitive and educational platform using Microsoft Azure and Power Platform supporting both banks and borrowers as they navigate through the lending journey. For banks, this means confidence in delivering the end-to-end loan forgiveness process in an efficient manner. For borrowers, this entails an elevated digital user experience allowing for monitoring of their loan forgiveness status and self-service submission of documentation during the coverage period in order to efficiently manage their portfolio of loans.
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EY’s creation of the Platform for both lenders and borrowers combines its small business banking experience, tax and payroll knowledge, data insights, and capabilities across its Digital, Technology, Data & Analytics, Tax, and Risk practices with Microsoft technologies. This platform leverages Microsoft Power Apps to integrate business critical processes in line with the CARES Act and enhances speed to market and lowers delivery costs. By understanding the demand on lenders and the processing capabilities needed, EY can change and reconfigure features more efficiently as CARES Act guidance evolves.
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