Throughout the past year, business leaders were reminded of the importance of working with financial institutions that prioritize client service, innovation and technology for the benefit of their clients. This past year, First Business Bank’s clients, prospects, employees and communities gained from our 30-year commitment to building a tech-forward banking company. Among our foundational beliefs is the statement: “Employ technology to be as efficient and accessible as possible.”
When the world pivoted to safety, First Business Bank quickly launched an online Paycheck Protection Program (PPP) portal for prospective and new clients by modifying proprietary technology we previously built for our vendor finance business. This prior investment in technology allowed us to mobilize in a matter of days, efficiently process more than 700 PPP loan applications, and fund $332.3 million in PPP loans in a manner that vastly exceeded client expectations.
Through our established commitment to innovation, we also drive progress for our employees and our greater communities. While our recent custom PPP portal meant faster approvals and frequent communication with our clients, it ultimately led to quicker much-needed relief to our communities and allowed our employees to continue to deliver industry-leading service with efficiency.
Company: First Business Bank
Innovation: Custom PPP loan application portal
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