Tata Consultancy Services Ltd.

Tata Consultancy Services (TCS) has launched cloud-based, end-to-end solution to help banks accept and process forgiveness requests as part of the Small Business Administration (SBA) Paycheck Protection Program (PPP) under the Coronavirus Aid Relief and Economic Security (CARES) Act passed by the US Congress.

The company has developed the Small Business Loan Forgiveness solution, an automated, secure, highly scalable, and ready-to-deploy low code solution on the Appian platform, leveraging the Machine First Delivery Model, to provide a streamlined, predictable and auditable loan forgiveness function for banks.

The solution provides self-service and guided channels for businesses to initiate forgiveness requests, and uses intelligent automation to enable verification of evidence of loan utilization. It ensures adherence to SBA guidelines and transparency through timely customer communication and an intuitive dashboard. Additionally, to help banks manage the surge in transaction volumes, the company will provide back-end processing services. The highly configurable and low code solution can be quickly customized to meet a bank’s specific needs around branding and operations for an enhanced customer experience, and deployed within days.

TCS is an IT services, consulting and business solutions provider that has been partnering with the world’s largest businesses in their transformation journeys for the last fifty years.