The Case for API-Based Automation in Banking & Finance in Post-COVID 2020
Thank Toolbox.com features Boss Insights’ commentary on API automation post-COVID. Boss Insights’ API Hub digitizes lending to grow business relationships between banks and businesses. We enabled instant PPP forgiveness in 3 steps and can digitize SBA, SMB and Commercial lending.
Customers are accustomed to retail technology, and some are looking for and willing to move their business to automated completion of SBA Forgiveness Form 3508. In fact, more nimble banks saw their digital account opening jump 20% since March of 2020. With the new rules from Bill H.R. 7010, the PPP Flexibility Act, borrowers & lenders must go back & duplicate their work unless their platform fully automated the process.
That’s the power of an API hub, the backbone of the Boss Insight platform. With Boss Insights, borrowers trade in manual effort for instant forgiveness calculation. With anything short of true data automation, changes will lead to more work. The difference with an API hub is that the work is only done once.
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Originally published Jun 18, 2020, updated Jun 19, 2020