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.
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.
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