SEATTLE, June 5, 2020—Moss Adams, one of the largest accounting, consulting and wealth management firms in the nation, has launched a Paycheck Protection Program (PPP) loan forgiveness processing platform for financial institutions.
Built on the Nintex® Process Platform, the tool is an integrated digital platform and staff-augmentation solution that couples easy-to-use technology with deep professional experience. It provides industry and Small Business Administration (SBA) PPP loan-program expertise that supports financial institutions in guiding borrowers through the PPP loan forgiveness process.
“Our cloud-based solution makes the process of the forgiveness calculation, documentation and submission easy and understandable so borrowers can get back to focusing on their business,” said Gabe Nachand, national practice leader for the firm's Financial Institutions practice . “Our professionals are deeply experienced in managing financial data, bringing valuable insight to the easy-to-use technology.”
The platform appears as part of a financial institution’s web presence and is deployed with a customizable workflow to fit an institution’s existing processes. The automated process allows borrowers to submit necessary documentation supporting the calculation of their forgiveness amount. The borrower’s data is then compared to source documents, boosting filing accuracy through submission reviews. Financial institutions then receive comprehensive packages—including borrowers’ digital confirmation signatures—to submit to the SBA and retain internally.
The platform also offers features that can help financial institutions reduce customer frustration during the forgiveness process. Resources include tutorials and help-desk support, updates on SBA guidance, notifications of missing information, preliminary forgiveness amounts, status confirmations and borrower updates.
“The additional features provided in our tool combined with our people’s expertise can free up relationship managers’ valuable time—allowing them to concentrate on client engagements instead of tedious processing work,” said Nachand.
Moss Adams professionals serve clients across the financial services spectrum, from start-up organizations to financial institutions with billions in assets, including credit unions and more.
For more information about the PPP loan forgiveness tool, visit our website.