Vista faced the challenge of helping small businesses apply for funding from the Paycheck Protection Program (PPE) within a mandated filing deadline. With so many businesses rushing to get loans, the bank needed a scalable solution that would enable it to quickly process an estimated 2,000 applications – more than the total number of loans it processed in the previous year – and at the same time meet audit requirements. 

Vista Bank turned to OneLeap for a solution. By streamlining loan application intake as well as the loan boarding and funding processes, we empowered Vista to rapidly boost its capacity and surmount the PPE hurdle. How did we do it? Software robotic process automation (RPA) bots were created. We designed them to do three things: 1) automatically extract data from each borrower’s application, 2) enter that data into the bank’s system of record, and 3) process the funding of the loan into the borrower’s bank account. Despite the tsunami of loan applications, automation removed the heavy burden of time-consuming and repetitive manual processes, allowing the operations team to focus on delivering a positive and streamlined customer service experience. “RPA has been a game changer in its ability to automatically manage and move data between our community banks and the SBA application portal so we can generate loans quickly,” said John Steinmetz, CEO of Vista Bank. “Leveraging software bots will accelerate this process to allow lending institutions like Vista Bank to distribute critical funds into the hands of thousands of small businesses -- who are the engines that drive our economy -- in real time.”