HUGE BACKLOG OF LOANS CLEARED IN A SHORT SPAN THROUGH PPP SUPPORT SERVICES

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CLIENT

 

A top five positioned global bank needed to urgently increase variable operational capacity to fulfill a large backlog of CARES Act Payroll Protection Program (PPP) small business loan applications, as part of a lending partnership in place with the Small Business Administration (SBA). The bank needed a capacity solution that could be implemented in a matter of days, not weeks or months, a partner that could seamlessly onboard and integrate with the bank’s small business lending platforms, and flexibility pivot between operational scopes with limited training and support.

SOLUTION

 

Mphasis Digital Risk implemented Payroll Protection Program (PPP) support, which performed below activities:

• Quickly identified and deployed a large national remote workforce in a managed services model

• Provided training, technology support, quality control and management oversight for duration of program

• Operational capacity deployed at scale in one business week

• Leveraged proprietary technology to monitor, track and provide detailed resource management and status reporting in real time during shift and at conclusion of shift

• Enhanced reporting and data analytics during project leveraging agile methodology

BENEFITS

Our solution catalysed the following benefits for the client:

• Successful client fulfillment of hundreds of thousands of PPP loans in a short while

• Superior performing operational delivery group as compared to other contracted suppliers, across multiple service levels and key metrics

• Successfully pivoted scope multiple times during engagement based on shifting client business needs and priorities

• Maintenance and adherence to all regulatory, compliance and quality assurance/quality control service levels