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Enabling smooth execution of CARES Act Paycheck Protection Program



Banks in the US have disbursed around $ 659 billion to small businesses through the Paycheck Protection Program (PPP) under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. In the next phase of the program, banks will need to process huge volumes of forgiveness requests for eligible payroll and non-payroll expenses of small businesses. The large volumes of requests will have to be serviced rapidly and cost effectively, ensuring adherence to SBA guidelines.


TCS offers a secure, cloud-based solution, developed in partnership with Appian, to help banks deal with the high volume of loan forgiveness requests.  A ready-to-deploy solution, it provides a self-service option for small businesses to initiate forgiveness requests and leverages TCS MFDM™  to help banks verify the evidence of loan utilization and determine forgiveness amount adhering to SBA guidelines. While offering  streamlined, predictable, and auditable functions for banks, the solution ensures transparency through timely customer communication and intuitive dashboard. With this automated, highly scalable solution, banks can meet the objectives and responsibilities toward the small business customers to offer PPP loan. This intelligent automated solution, backed by TCS Cognitive Business Operations, will help banks meet the objectives of the Paycheck Protection Program loan forgiveness in a timely and cost effective manner.


With TCS’ cloud-based loan forgiveness solution, banks can:

  • Minimize investment and cost of operations
  • Ensure consistent policy implementation and compliance
  • Rapidly scale to handle volume spikes
  • Drive quicker turnaround time to address the needs of the small business customers

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