FIS Sees Robust Processing Volumes on Real-Time Lending Platform for Latest Round of PPP Loans
Through the first two weeks of the newest round of the SBA’s Paycheck Protection Program (PPP), FIS has facilitated nearly
$8 billionof PPP loan applications for more than 63,000 merchants and small businesses.
- Powered by new self-service features that pre-populate application fields for merchants, FIS’ Real-Time Lending platform makes access to PPP loans easier for merchants and for financial institutions to process.
- FIS was one of the leading processors of PPP loan applications in 2020, processing more than 225,000 loan applications for America’s small businesses.
Through the first two weeks of the program, FIS has successfully processed nearly
The newest round of subsidized PPP small business funding is enabled under the additional
FIS is providing a convenient self-service portal to streamline the process for merchants and businesses to apply for needed funds through the new round of the PPP program. Through integration with participating bank lenders, the FIS portal automatically pre-fills merchant data, creating a quicker application process and seamless experience.
Applicants can track the status of their loan application and apply for forgiveness through the same online portal—providing visibility throughout the loan-to-forgiveness process. FIS said that about 80 percent of the loan applications it has processed in this new round of PPP funding have been submitted through its self-service portal by small businesses.
“Having assisted thousands of our customers through the impact of the pandemic over the past year, we understand the challenges many merchants and small businesses are facing in navigating the complexity of the PPP lending process,” said
FIS is a leading provider of technology solutions for merchants, banks and capital markets firms globally. Our employees are dedicated to advancing the way the world pays, banks and invests by applying our scale, deep expertise and data-driven insights. We help our clients use technology in innovative ways to solve business-critical challenges and deliver superior experiences for their customers. Headquartered in
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