Timely Banking Solutions: CARES Act & SBA Lending

April 9, 2020


Timely Banking Solution. The CARES Act has allotted $350 billion to support approximately 30 million qualifying small businesses in the US to keep workers employed. The SBA Paycheck Protection Program provides eligible businesses with 100% federally guaranteed loans and opportunity for loan forgiveness.

The SBA is funding the program however, banks are executing the loans. Banks that provide a positive, relationship-driven experience for their customers during a crisis come out on top. 

Financial Services Cloud (FSC) 

Using the Fortimize CX360 FSC Accelerator, our out-of-the-box solution provides the framework to give loan officers and business bankers a necessary process to capture SBA applicant information, qualify the borrower, and submit the application for approval by leveraging leads, opportunities, and Fortimize prebuilt workflows for approval routing.

One-time Customer Data Load

Commercial banking customer data can optionally be brought into FSC via a one-time, batch data load from the bank’s core system giving lenders the ability to send marketing communications and program information out to existing customers via Pardot email campaigns.

Streamlined Borrower Communications 

By implementing Pardot, automated templated email communications can be sent to the borrower to communicate changes to the federal program requirements, status updates on their loan application, and allow loan officers to communicate via templated, compliance approved email messages.

Virtual Banking Experience  

Leveraging Salesforce Communities will allow borrowers to submit a prequalification request, and then once approved,  they can upload application document packages, view the status of their loan application, and communicate with their loan officer.  

Drive User Adoption

Fortimize’s expertise in Financial Services Cloud, Marketing Automation, and Community solutions has been compiled with documentation and video training materials to drive adoption with end-users to garner the maximum value out of the solution for the bank.

Fortimize has an insider’s understanding of bankers’ unique needs, in-depth experience integrating core banking platforms, and proven solutions on the Salesforce and Financial Services Cloud Platform. Contact us today to learn more about how we can help your bank during this process.

Unlock endless possibilities

Thought Leadership Paper

Digital Transformation in the Financial Services Industry During COVID by Jim Collins