SmartIQMT Adaptive forms technology offers tailored solutions to facilitate the review, calculation and submission process for lenders, banks and borrowers
LONDON and NEW YORK, June 17, 2020 (GLOBE NEWSWIRE) – Intelligent communicationsMT, the sole provider of a customer conversation management platform, today announced the launch of a PPP loan forgiveness application solution designed to speed up the forgiveness process and reduce friction for applicants and their clients. lenders. With digitally transformed forms processes offered only by the company’s SmartIQ product, lenders can streamline the complexities associated with executing the loan cancellation request, reducing errors and processing time.
Millions of small businesses have received over $ 500 billion in PPP loans in recent weeks. While these low interest repayable loans have been attractive to small businesses, homeowners have had many questions about how to ensure that they don’t have to repay the loan, and the demand for loan remission – even more complicated and confusing than the PPP application form. – potentially requires the execution, aggregation and sorting of hundreds of calculations in order to create an accurate and complete submission.
“As banks and lenders prepare for this complicated phase of loan cancellation, we recognize the burden this paper-heavy process creates for all parties involved,” said Rodney Frye, president of SmartIQ North America at Smart Communications. “Now more than ever, banks are committed to providing unwavering support to the businesses that need it most. We are proud to offer this turnkey solution, the first on the market, designed to make the process easier for everyone and to create lasting and loyal relationships throughout the process.
By guiding borrowers through adaptive interviewing, the SmartIQ solution simplifies the complex PPP loan forgiveness application, ensuring a streamlined response process, more accurate data collection and calculations, and the certainty that most program requirements are met. recent ones have been incorporated into the response. to treat. Organizations adopting this industry-first solution can launch a fully digital, mobile-ready application engine within their business within days, including the form, Schedule A, and all spreadsheets and calculations. More specifically, it offers the following main advantages:
- An intuitive and guided interview experience that simplifies complex instructions by dynamically guiding customers through loan cancellation questions in a responsive manner, based on their answers, from any device.
- The ability to calculate and put in competition all the worksheets of the solution, with built-in logic to determine nominal reductions, reduction quotients, FTE pay rate reductions, and pardon amount selection.
- Easy inclusion of support materials and attachments, and the ability to start and stop an app on all devices as needed, without starting over.
- A faster completion process from start to review, up to electronic signature and submission.
- A reduction in illegible or inaccurate applications that require manual review
- Faster forgiveness notification
For more information on the SmartIQ PPP Loan Forgiveness Application Engine, click here.
About smart communications
Smart Communications ™ is the only provider of a customer conversation management platform. Over 500 global brands rely on Smart Communications to deliver smarter conversations across the lifecycle, enabling them to succeed in today’s digitally-driven, customer-centric world while simplifying processes and operating more efficiently. This is what it means to intensify the conversation. Smart Communications is headquartered in the UK and serves clients from offices in North America, Europe and Asia Pacific. The Smart Communications Platform includes the power to manage enterprise-wide customer communications from SmartCOMM ™, capacities for transforming forms made possible by SmartIQMT and the commercial documentation expertise of SmartDX ™. To learn more, visit smartcommunications.com.