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IN THE NEWS

Fintechs help banks manage deluge of emergency small-business loans

Within days of enactment of the federal Paycheck Protection Program, online lenders, core-system providers and software companies churned out platforms and portals — often built on existing technology — that allow banks to accept applications under the relief program, originate loans, automate the underwriting process, collect documents and transmit the information to the Small Business Administration’s processing system.

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Check out the latest PYMNTS Masterclass featuring Norm DeLuca, Managing Director of Banking Solutions

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Bottomline To Assist Small Businesses Applying for Funding

PORTSMOUTH, NH - Bottomline Technologies (NASDAQ: EPAY), a leading provider of financial technology that makes complex business payments simple, smart and secure, today announced an initiative to help the nation’s banks provide assistance and relief to small businesses adversely affected by the COVID-19 pandemic. Bottomline will provide banks with a simplified SBA loan application platform to originate online loan applications under the “Paycheck Protection Program.” Bottomline is making this platform available to any bank at no cost.

Smaller banks innovate ways to handle PPP volume in the ‘scramble’

Bank Innovation talks to Bottomline CEO Rob Eberle about the challenges banks have faced since the SBA loan program went live. Bottomline is offering a free solution to banks that want to process SBA loans.

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