FinTechs Help Banks Ease The PPP Lending Pain
Though specializing in accounts payable technology, Bottomline Technologies recently announced that its existing account opening technology has been customized to enable financial institutions to originate PPP loans.
Bottomline will deploy its account opening, on-boarding and fraud capabilities to ensure lenders comply with PPP loan requirements and accelerate their Know Your Customer (KYC) needs to provide funding to both new and existing SMB customers. Small businesses, meanwhile, can use the platform to apply online as fewer physical bank branches are available.
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 CEO: How FinTech Gets Creative to Extend Coronavirus Relief
While some firms are adjusting the assembly lines of their manufacturing warehouses to produce much needed personal protective equipment, FinTechs have found themselves in a different position to provide valuable assistance. Read on to learn about what Bottomline is doing.
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