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hello this is Mike Hefner from Appian I'm stoned by Misha D'Amico also from Apia and we're we're thrilled to have you join us today we're going to cover the Paycheck protection program so we welcome you to this part of a paean world virtual first and foremost we hope everyone is safe and healthy that's joining us and we're thrilled to talk a bit about a pians offering specific to for for clarity sake and to emphasize privity we'll just call it the PPP program some context ultimately this program is all about doing the right thing for small businesses the focus of this particular section is going to be on PPP but the platform actually is extensible and we have also significant experience in covering other lending programs similar to PPP for example Siebels in the UK so it's it's it's it's interesting to have seen this program evolve it's moving in rapid feed I think the reason so many folks are motivated to do the right thing here is the pandemic is presenting an unprecedented crisis and everybody realizes the opportunity here to do the right thing and in engaging now there's lots of risks in how to engage and you know we've learned the lessons over the years of banks engaging tactically and the trouble that can spell we're hoping here to present an alternative for folks that are just getting into this game Bank credit unions financial services firms in general and even though you may have started in a tactical vein it's not too late in ER too late to consider an automation play and like athlean think about what we're about to present as fast deploy faster change integrated and sophisticated and ultimately auditable we think it's important to think about the full lifecycle of this PPP program we're seeing lots of changes a lot of aspects of the program that have yet to be defined and quite honestly you can't open the Wall Street Journal without reading an opinion piece on the program itself which has invited additional scrutiny certainly the prospect of additional congressional oversight could lead to additional changes down the road from our perspective it's important to be able to manage the full lifecycle both in terms of initiation of a response but then also the adoption of the adaption of the response to any changes and that's really where a modern platform a pians platform comes in into play it's important to note that appian has an alliance of technology lines with Google which really allows us to deliver leading-edge differentiated capabilities to help our customers manage this process more effectively not just the intake but also when it comes to forgiveness we we think that a lot of the risks associated with this process are going to be dealing with the documents in the day and the statements associated at intake and at forgiveness and what we all want to think the best of everyone this program is also right through for fraud ultimately the responsibility for preventing fraud rests with the bank and I think the ability to be able to manage from a lifestyle for the life cycle perspective all of the decisions and actions and the data that have been critical to running this program in one place are going to be a differentiator you know we're hearing from our research that while everybody was fast to tactically get into this space they're now beginning to really worry about the ability to deliver a sustained honorable and compliant response a couple of things to note about a pians offering in particular fast engage fast and easy to change and really we wanted to present an offering to the marketplace that allowed our customers to really de-risk and make their offering in the space a lot more predictable and therefore we're offering the PPP application on the Afghan platform at a low fixed price which includes software and services to get our customers running in days with a more complete response to the challenges of the PPP program for those of you that may be new to a paean I did want to highlight our qualifications in financial services not just around loan origination but around helping customers manage opportunities around customer experience lending operational effectiveness and GRC these are really the sweet spots for the ABI platform and we have lots of great qualifications of customers and we're just listing a small subset of customers here that have extensive experience managing some of the most complex processes by a DI being platform so with that said there's nothing like showing you something so we'd love to show you demonstration of the the of the TPP application so with that I'll turn it to Misha thanks everyone for joining today and do a special virtual edition of a bean world hope you all are staying home and staying safe right now so today we'll be walking you through the demonstration application that we built to show the intake processing and tracking of the paychecks protection program loan application so go ahead and start my screen share and we'll get started with the demo so in early April this legislation was passed and it's a sea gone through a few iterations since then it's run out of money it's been refunded and some of the legislation and restrictions or qualifications have been modified changed a little bit and so we've seen a lot of need for adaptability and it's also been a struggle because the banks need to be able to connect to many different systems they already have for loan origination and loan processing as well as having a seamless connection to the SBA system all the way through to disposition and forgiveness and so appian has those capabilities to make the connection and also the ability to stand up something very quickly that can adapt to change and so as we move forward appiy is going to be able to allow banks to be very agile with this and can keep up with the changing legislations we have so with that we'll dive into the application what you're seeing on my screen here is the loan management dashboard and so this is for the lender to view different parts of the application process and get a nice overview of what's going on who they're who they're working with and how things are going and so they have to keep the eyes at the top here around their targets their actuals and their progress so how many applications are they processing how many are overdue how much they've awarded so far etc they also have an idea of some of the applications that have recently gone through the system and their progress and they can see some demographics around the loan borrowers who are actually coming through and so there's a lot of information for them here it's all coming in in real time so as things are processing and working they can see those changes happening in real time come and so with that will actually jump back over to the customer portal and go over into the actual application process so what we have here is the the landing page for the Paycheck protection program on the customer borrowers side and so here what we have is the ability for them to see some information around the Paycheck protection program who can apply if they have any questions need any help there is integration to a chat bot here for them so they can access that at any time and I have some helpful links over here as well as the actions they can take around the PPP program itself and so they can apply for a loan they can request loan forgiveness or they can check the status of their application so we'll go ahead and dive in with checking or sorry with applying for a new loan so here we we have is first a question around whether or not we are existing small business banking relationships and if we hit no it will take us through the process of actually being on board with a customer most likely redirect us to the portal with the bank that they already have or on board a new customer but we are a new we are a small business banking customer here so we'll go ahead and hit yes and then continue with the process so since we are existing customer now they're going to ask us a few questions about our business so how long have we been in operation whether or not we are a business with fewer than 500 employees are we us-based and and have we been affected by kovat 19 so we have we do meet all the criteria and therefore we may qualify under the provisions of the Paycheck protection program to actually get this loan and so I'll go ahead and take continue at which point is going to give me another choice of how I would actually like to apply so do I want to do it through a wizard or do I want to actually upload a completed form and we do have the paychecks protection program form is a fillable PDF online and so they could download that or fill it out online give it a wet signature and either hand it in to a branch of their bank or maybe upload that so we have the ability to do that here it's going to use a P and AI to extract information from the form and bring it into the process and we'll see that a little bit later but we also have the ability to enter through a wizard so I just entering electronically so we'll go through that process now so first we have to enter in information about our business so since we are investing customer the bank is already going to have some information about it so if I go ahead and click on my business it's going to fill in all the information for me and so you know that just takes off some of the burden on the users to fill out information the bank already knows next we'll have to put in our average payroll and the amount that we're going to need for this loan and we do have some business rules working in the background here so automatically is going to take this and put a two five two point five times multiplier and calculate the request amount based off that we do see that the maximum loan amount is 10 million so if we were to exceed that we are going to have business rules working that tells me we cannot request anything over ten million I'll have to make sure the amount is below that before I submit the form and then if finally we do put in the number of jobs that we're going to have so next we just put in some information around our ownership so anyone who has a twenty five points percent or more ownership is going to need to be documented here we can put more than one but for now I'm just going to have one in here and then after that we're going to go into the questions in certification so these are dynamic questions and certifications that we have that are being controlled in a configuration panel that we have on the lender side and I'll show you that a little bit later but essentially what we're able to do is as these questions are changing if we need initial one additional ones for example or if we need to change the number of questions or the wording we can do that in a configuration panel and it will immediately take effect here the same thing goes to the certifications as well as all the business rules we have working on form such as that multiplier and math loan amount and this is part of what allows banks to be very agile and flexible when it comes to making changes quickly add legislation changing as well finally we have to put in our IR s form and our payrolls supervise medicinal information around our business and to validate the loan amount that we are requesting here and the last step here is just to certify that we've read these below statements we can go ahead and hit submit once if you that it's going to take all the information that we just entered package it up and generate a PDF document for us a sign and it's going to send that document over to DocuSign to get our wet signature on it now we're doing this because we do me the wet signature on this form we could use another electronic signature of platform here we just use DocuSign as an example you'll see that all the information that we entered on the previous forms have all been entered here and generated with forms and so I can just drag my signature on hit finish and then now the signature has been documented and if I hit done it's going to take everything that I've just put together and it's going to send it back over to the lender and so now I'm going to be able to go back to the lender portal and continue that process but before we do that just one more thing to show here is that at any point in time we can come in to check the status of our application so if I come in I can see the application that I just put in the ownership information that amount that we're requesting that document that was generated along with the documents that were uploaded and so I have a full view of my application and this excuse me this status is going to update in real time as well so apps moving through the process I'm going to be able to come in here at check at any point in time where it is just to know that you know it is being processed and looked at by the bank so with that we'll go ahead and switch back over to that loan management portal that we started on and we'll head over to our tasks and there we're going to see an originator reviewed form for us and that's just going to be the first step in the process on the lender side for this application and now you'll see that we have all the same pieces of information that we saw before on the DocuSign page as well we're not satisfied on the customer we're awesome to see that same information here along with the questionnaire that we filled out the questions answers with the with the initials that we have uploaded documents and if everything looks good to us we can go ahead and check this for eligibility now this could all be you know ticked off automatically but assuming that the bank might want to do a first you know check themselves before they send it over to the SBA we put this step in place now as soon as I hit check SBA for eligibility it's actually going to switch over to the RP a bot and it's going to call a P and our PA and use that to access the SBA website and look up the information that it needs and pull back the information that it needs and so we'll go ahead and show that happening so once I hit that if I switch over to this remote desktop session to see the RP a bot kick off you don't see that it is now working and it's filling in the company details we provided in the intake form and now it's performing the search now C is going to take a little bit of time just because this site is getting a you know hit with a lot of requests these days and so the RPE bot is going to be the one to actually wait for the response to come back and do the lookup and pull out the information the person on the lender side so the employee who's actually going through this approval process can just kick that off and then go on with their day and continue their other tasks and you'll see that it pulled out the pieces of information we needed in this case it was that SBA loan number it attached it to the record we're good to go and so that task has been finished and like I said in real in the real world the user would not be watching the RTA and it would really be taking off some time and some effort from the the person by having the bots do it instead so I did mention before that we have the ability to go through the wizard and we also have the ability to upload a form and use a pai to extract information so I'll go ahead and show you what that looks like now so say they had uploaded a form we have this reconciled PDF form task and so if I go ahead and click into that we're going to see a similar form with different pieces of information on it we have the you know the ownership information and loan information and you see we've extracted all of that into this form to the left and so here's where we're using a BIA a Pai to perform OCR to extract all the pieces of information that we need and so once I if everything looks good here and you know I can change things if something didn't match up right so if everything looks good I can go ahead and hit submit on this and what that could do is just take us back over to the originator review form just like we have before and so it's going to converge back into the same process the same task as we have you see the original review show up now and essentially that just gives the bank and the user the borrower more flexibility in terms of how they want to enter this informatio how they want to submit it so with that we'll switch over out of the process a little bit and push over into the loan request record I'm so getting an idea getting a view of all the different applications that are coming through right now and so you can see here's a list of all the applications we've had you know from most recent to least recent we have information about the company the contacts the initiator and the status in the progress of it and we have that X be a loan number that we are pulling off of SBA site via our PA now I can click into any of these to get more details as well and so all this is going to be updated in real time for me so as things are happening as things are changing if I'm you know the manager of this loan team I can go ahead and look at this at any point in time to understand where we are in each of these different processes especially if something is maybe hung up on a certain step I'm seeing all the same details that I saw before I can see that status bar I have the questions and certs from before so again same view just being able to see the answers we have a view of all the documents that they uploaded so part as part of this loan request we can see a preview of all the documents we have a running trail of comments so if different lenders on the team are acting converse back and forth make comments around the particular application they're able to do that via mapping platform and then an audit trail and of the full tasks and the variables just the data that's running through this attacks are being completed whether it's a system tasks or as a user tasks I'm getting a full trail of that and so at any point in time I'm just getting full visibility into what's happening here and then I can also kick off actions from here so I can go ahead and kick off a loan forgiveness process from here for example if a user word to a borrower say works to call in and you know request loan forgiveness we can go ahead and do that for them but we also have that ability on the customer portal and we'll head back there in a second the last thing I want to show on here is the configuration tab so we did mention before that we're able to change those business rules at any point in time based on the legislation or based on things that are happening and this of course goes for any application that you're building on a being you're going to be able to make adjustments like this in order to keep your business very agile and flexible and so here I got the max loan amount configure the payroll multiplier the the number of days we have to respond to a forgiveness request and in the questions and certification and so you can see at any point I can add a question I can add a certification I can change with loan amount payroll multiplier all the changes that I make here will be immediately reflected on that form so the next time someone goes in to request you know apply for a PPP loan these new amounts these new multipliers will apply there and so as things are changing I'm able to do that very quickly without going through a full you know software development lifecycle to get those changes implemented so the last part of this whole end-to-end process is loan forgiveness and so if we go back to our customer portal we are able to take off the process for requesting loan forgiveness so here similar to what we had before on the application we do have to certify that we do meet certain criteria in order to qualify for loan forgiveness and so have you retained our full headcount of employees how we use the majority of our cost at least 75% for payroll have we maintained salary levels and then if we have on any one go are we going to rehire back to full capacity by that June 30th deadline so go ahead continue and I'm brought through a form where I am given some details around my initial loan application so how much did I initially request how much did I get what my funding date was and then I've got all these four forms to fill out in terms of how much I use for payroll versus benefits and we've got that total amount you know running as we fill in information here and we do have more business rules in play here as well we can only have up to 25% on non payroll cost so if I need the Casas mentoring and here exceed that we are going to potentially have a lower forgiveness amount same thing with the number of employees so if I for example put in that I only have 180 employees now it is going to tell me that my forgiveness amount might be reduced because of that um and so if I do for backup to 200 I am qualified for the business for the full forgiveness and so we have a business rules operating and then we also have the ability to add in more forms and more documents such as invoices we might need to show for how we use the money how will you ballon amount we are pulling in the IRS in the payroll form that we had before we don't need to re-upload those but we can additionally put in supporting documents if we need to and then once everything looks good here we can go ahead and submit this for forgiveness and if we head back over to the loan management dashboard if we go into our tab we will see a tab for reviewing a loan forgiveness application here and so that'll again you kind of go through the same process as before where the lender is able to make a determination based on some automatic business rules as well as some of their own rules they might have in place in order to determine the full forgiveness amount and then process the application from there and so coming back to our home page the loan manager we have at this point completed the full lifecycle of the loan so we've been able to intake an application send the loan information to SBA verify eligibility review service track the loan and then also process forgiveness on it and so we've given the group the borrower visibility into the status of their application and the lender is also full visibility into the metrics and the reports around all the requests that are coming in so in a paean fabok we'll be able to quickly send up a solution similar to this to tend to their needs for servicing these customers that will work seamlessly with their system while also leveraging the full power of a P&R PA and AI so that concludes the demo Mike I'll hand it back to you great reflection of the power of low stack full stack automation with records on a low code platform so really all of the elements of full stack automation I think came to play end-to-end task management integrations a IRP a document management the ability to integrate electronic signatures manage rules and changes to rules and configurations of the process and do do all of that with the ability to aggregate information not just internally to the bank to understand patterns or unfairness and distribution and ensure consistency around how and to whom the loans are dispersed but also being able to then defend the program when the auditor is when the Fed to come calling and being able to do all of that in an environment where you can much much more effectively manage the elements that are important such as customer service but also fraud prevention so very very impressive I really really do appreciate that you know the way we think about the PPP program as a whole it's if you want to visualize an iceberg you know so far much of the attention of the iceberg has been on the top what's above the water line the intake we think the complexities of the program are all below the water line and then being able to manage holistically front to back that's really the space where we're engaging we'd love to keep the conversation going there's a URL listed here on the page it's a paean comm slash PPP we look forward to hearing from you and wish you all the best thank you