How to deliver small business support faster with a new SBA lending framework

The Paycheck Protection Program (PPP) has been a cornerstone of the U.S. government’s relief efforts for small businesses suffering from the economic impacts of COVID-19. 

Since the Paycheck Protection Program’s (PPP) inception in April, lenders throughout the country have scrambled to direct the program’s unprecedented $660 billion of relief to small businesses in need. The results have been tremendous: almost 5 million loans originated and 51 million jobs supported, equating to more than 14 years’ worth of small business lending in just a matter of months.

How to accelerate financial lending operations with APIs and AI

The U.S. government relief programs in response to COVID-19 have put an unprecedented workload on the banking industry. The small business funding programs like Paycheck Protection Program (PPP) loans and Small Business Administration (SBA) Bridge loans have generated 14 years’ worth of applications in 13 days underscoring the importance of digital transformation.

Help customers navigate financial uncertainty with connected digital banking

This post was originally published on the Salesforce blog.

Banking providers around the world are helping millions of people and small businesses manage tremendous financial uncertainty amid COVID-19. Though banks have risen to the challenge with remarkable ingenuity, the crisis underscores the need for them to accelerate their digital transformations.

The success of chief information officers (CIOs) and IT departments in the banking industry is critical to delivering the financial support that’s so desperately needed to withstand the economic impacts of COVID-19.

How to manage operational risk in banking during times of rapid change

The unprecedented disruption of COVID-19 has changed how consumers interact with banks; there’s been a 20% increase in digital engagement levels and a halving in the use of cash. Many banks have also needed to rapidly meet the demand for new services such as ‘Interruption Loan Schemes’ to support those hit hardest by lockdown measures and, like many organizations, are operating with a partially remote workforce. Much of this change could remain even after the pandemic;

Banking on a composable future in a mobile-first world

The global lockdown has forced society to rely more heavily than ever on digital channels in 2020. Those who still preferred face-to-face interaction in a branch setting to the convenience of going online have been forced to adapt and learn new habits. In the financial services sector, UK bank Halifax reported seeing the number of online transactions made by over-65’s doubling during the lockdown, giving one clear example of the extent of this impact.

Preparing for today and tomorrow: The importance of a company-wide integration strategy

As the COVID-19 pandemic changes consumer behaviour and puts increasing pressure on traditional business models digital transformation has never been more important. But to reap the benefits, organisations must seamlessly integrate applications, data, and devices. This requires an organisation-wide API integration strategy.

In the financial services sector, digital transformation provides vast opportunity for innovative companies to use an API-led strategy to build consumer and merchant networks that will drive economic development across ASEAN.

Salesforce integration with an application network

September 20 2019

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application network

In the midst of a top 10 global bank’s central IT transformation with MuleSoft, it began to realize the benefits of an application network. This blog will cover how the bank developed a strategic approach to expand its network, launching a new initiative to integrate multiple instances of Salesforce Marketing Cloud and Sales Cloud to drive new business. 

How a global bank created a single view of its customers in 3 months

September 12 2019

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single view of customer

Businesses of all industries and sizes can understand the growing importance of a single, unified customer view. Financial institutions in particular are realizing the advantages of an aggregated representation of customers’ personal data and behavior such as previous interactions, history, purchases, etc. to better serve their customers. 

How standardized APIs enabled efficiency, speed, and security for a global top 10 bank

Standardized APIs- efficiency, speed, security

One top 10 global bank’s efforts to improve its IT operations was quickly coming to fruition; following the success of applying API-led connectivity to mortgage lending, its IT team embarked on another project to unify collections and recovery experiences. 

A global bank’s mortgage integration made easy with reusable APIs

Bank mortgage integration

Picking up where I left off in my last blog on one global bank’s integration journey — this is an overview of how the bank realized immediate benefits of leveraging MuleSoft’s API-led connectivity approach.