New FIS Portal Automates Loan Forgiveness Process for Small Businesses Under Paycheck Protection Program
Summary
The platform is fully digital and requires minimal setup for banks, who can implement the process by uploading a file of eligible loans with existing PPP customers. “ Our new portal uses advanced automation technology to handle the entire process, reducing the time and complexity for businesses in getting forgiveness of the essential loans that are critical to their business.” Through its Real-Time Lending Platform, FIS has helped facilitate distribution of billions of dollars of PPP loans through lenders to small businesses impacted by COVID-19. In addition to these efforts, FIS has also waived minimum monthly service charges for the months of April and May for its U.S. and U.K. merchant clients and continues to provide a number of value-added services including free virtual terminal access for U.S. merchants and retailers enrolled in the Worldpay from FIS iQ online portal for use in remote processing. FIS is a leading provider of technology solutions for merchants, banks and capital markets firms globally. Our more than 55,000 people are dedicated to advancing the way the world pays, banks and invests by applying our scale, deep expertise and data-driven insights.