Accenture Delivers Cloud-Based Solution to Help Regions Bank Enhance PPP Loan Application and Forgiveness Processes

Rhea-AI Summary

Accenture (NYSE: ACN) has created a new cloud-based Paycheck Protection Program (PPP) loan application and forgiveness solution for Regions Bank, one of the largest regional lenders in the U.S. Developed in just eight weeks, the Salesforce solution simplifies and streamlines the PPP application process for small businesses, enhancing efficiency in processing requests. This collaboration exemplifies effective partnerships in aiding small businesses during the pandemic. Accenture was recognized with a 2020 Salesforce Partner Innovation Award for this initiative, highlighting their commitment to innovative financial technology solutions.

Positive

• Accenture developed a cloud-based PPP loan solution for Regions Bank in 8 weeks, enhancing efficiency.
• The collaboration demonstrates effective support for small businesses during the COVID-19 pandemic.
• Accenture received the 2020 Salesforce Partner Innovation Award for the project, showcasing its innovative capabilities.

Negative

• None.

Accenture (NYSE: ACN) has developed a comprehensive, cloud-based Paycheck Protection Program (PPP) loan application and forgiveness solution built on Salesforce technology for Regions Bank.

Regions Bank is one of America’s largest regional lenders. Like banks across the industry, Regions began facilitating PPP funding from the Small Business Administration for qualified clients seeking financial lifelines in the initial wave of the COVID-19 pandemic. At the same time, Regions turned to Accenture for a technology solution that would give small businesses a less time-consuming and more intuitive application and forgiveness process.

Within eight weeks, Accenture developed and launched a comprehensive, cloud-based Salesforce solution that not only makes the process simpler, it is also designed to help process PPP loan and forgiveness requests more efficiently. To upgrade both processes, Accenture developed and deployed a solution using Salesforce Experience Cloud for application intake, the nCino Bank Operating System® for middle office processing, and Salesforce Service Cloud for case management.

The result is that small businesses can spend less time focused on applications and requests — and more time moving their companies forward.

“Regions recognized the importance of helping clients navigate the PPP program, and they turned to Accenture for a productive collaboration that would lead to an easy-to-use application experience,” said Jared Rorrer, a managing director and head of Accenture’s Commercial Banking industry group. “By combining Accenture’s user experience design capabilities and our Salesforce and nCino delivery expertise, we were able to deliver a highly effective, customer-centric solution that complements Regions’ mission to make life better for the people and communities they serve.”

Regions Bank continues to facilitate PPP funding needs through the Small Business Administration program.

“It has been said many times that the COVID-19 pandemic is unprecedented, and, indeed, that is true. But we have also seen unprecedented collaboration in helping small businesses access critical funding from the SBA,” said Ronnie Smith, head of the Corporate Banking group for Regions Bank. “Our work with Accenture is a good example. Accenture came to the table with ideas and solutions that are resulting in a more seamless process for entrepreneurs to leverage PPP. This SBA program is about helping businesses across America make it through a very difficult time. We are honored to serve a role in connecting clients with SBA financing, and we appreciate Accenture’s dedication in helping us make this process easier for small businesses.”

In recognition of Accenture’s innovative work, Accenture received a 2020 Salesforce Partner Innovation Award in the Experience Cloud category.

“It’s inspiring to see Partner Innovation Award winners such as Accenture drive success for customers by tapping not only into their Salesforce expertise, but their expertise in solutions developed by other Salesforce partners, to develop impactful solutions,” said Tyler Prince, Executive Vice President, Worldwide Alliances & Channels, Salesforce. “Now more than ever, companies need to accelerate their digital transformations — and trusted partners can elevate success for customers across industries.”

About Accenture
Accenture is a global professional services company with leading capabilities in digital, cloud and security. Combining unmatched experience and specialized skills across more than 40 industries, we offer Strategy and Consulting, Interactive, Technology and Operations services — all powered by the world’s largest network of Advanced Technology and Intelligent Operations centers. Our 537,000 people deliver on the promise of technology and human ingenuity every day, serving clients in more than 120 countries. We embrace the power of change to create value and shared success for our clients, people, shareholders, partners and communities. Visit us at www.accenture.com.

Accenture’s Banking industry group helps retail and commercial banks and payments providers boost innovation; address business, technology and regulatory challenges; and improve operational performance to build trust and engagement with customers and grow more profitably and securely. To learn more, visit https://www.accenture.com/us-en/industries/banking-index?c=acn_glb_curateddailyconpressrelease_12076009&n=mrl_0321

About Regions Financial Corporation
Regions Financial Corporation (NYSE: RF), with $147 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates more than 1,300 banking offices and 2,000 ATMs. Regions Bank is an Equal Housing Lender and Member FDIC. Additional information about Regions and its full line of products and services can be found at www.regions.com.

This content is provided for general information purposes and is not intended to be used in place of consultation with our professional advisors.

Copyright © 2021 Accenture. All rights reserved. Accenture and its logo are registered trademarks of Accenture.

Salesforce, Experience Cloud, Service Cloud and others are trademarks of Salesforce.com, Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210330005245/en/

FAQ

What is the new solution developed by Accenture for Regions Bank?

Accenture developed a cloud-based Paycheck Protection Program (PPP) loan application and forgiveness solution using Salesforce technology.

How long did it take to develop the new PPP solution?

The solution was developed and launched by Accenture in just eight weeks.

What benefits does the new PPP solution offer to small businesses?

The solution simplifies the application process and improves efficiency in processing PPP loan and forgiveness requests.

What recognition has Accenture received for its work on the PPP solution?

Accenture received the 2020 Salesforce Partner Innovation Award in the Experience Cloud category for this initiative.

Which technology does the new PPP solution utilize?

The solution utilizes Salesforce technology, including Experience Cloud and Service Cloud.