Peak Series – RPA: Peak’s RPA Team assisted our clients with over 15k SBA PPP Loans with Nintex RPA and we’re still going!

2020 started out as a very exciting year for the Peak Consulting team. After years of working with the Nintex RPA (FoxTrot) product through client engagements, we were able to expand our team to include a one of a kind expert, Chris Hubbard. Chris is a natural fit for Peak Consulting; Client First Focused, 18+ years of direct Foxtrot RPA experience, and a Problem Solver that can use the RPA tool to work with almost any system to create efficiency for our clients.

Insert the COVID-19 Pandemic. When the pandemic hit, and small businesses were basically forced to shut down or substantially alter operations, our community banks across the nation sprung into action doling out newly approved SBA PPP loans to directly support their communities. Most banks suddenly found themselves to be new overnight SBA lenders. Others with previous SBA experience saw loan applications 10 to 20 times their normal monthly volume.

Banks were left to decide if they were going to handle this influx of business manually, try software solutions that handled a portion of the process, or in many scenarios utilize the Nintex RPA (FoxTrot) tool they were already using.

The Nintex RPA tool combined with Chris’s RPA expertise provided quite a few unique advantages to our community bank clients:
• The ability to take output files from almost any source (FIS Numerated, Fiserv, Ncino, SBA ETran)

• The ability to board loans, track exceptions and handle complex customer decisioning

• Automatically determine if input data has already been processed

• Flexible enough to adapt with the multitude of changes that came from the SBA as part of the approval process

• Automatically create file inputs for Fiserv’s MAP product

• Nintex’s New Botflow structure allowed unlimited number of Virtual Machines running the process at the same time when being deployed through RPA central

We are proud to say we helped our clients process over 15,000 PPP loans totaling over $2.5 Billion dollars in direct community support.

What’s Next? Our team is already working with clients on the next challenges for the PPP program centered around Reporting and Forgiveness.

PPP Loan Clean Up – Cleaning up bad data that may have been part of boarding with inexperience boarders, changed data etc.

Forgiveness Processing – Leveraging RPA to automatically Post Forgiveness transactions, Update Customer Payments, and notify customers/internal staff

Deferral Processing – Automatically booking deferred fees to loans to account for SBA servicing fee provided by SBA

Contact us today to learn more about some of the items we are working on or what our team can do for you.