Following the 2020 U.S. election, legislative priorities are expected to shift with a stronger focus on protecting consumers personal finances, establishing stricter disclosure requirements, and changing, or eliminating, overdraft fees. These actions will have a significant impact to the operations and income for credit unions.
Even before COVID-19, consumers have increasingly turned toward chatbots to help them with digital requests. Now that social distancing and work-from-home policies are normal, the chatbot trend is accelerating.
PPP Loan Forgiveness is here. The SBA plans to open it’s PPP Loan Forgiveness in the coming days. Is your bank ready to provide a member experience that enhances your current relationship?
Join CU2 and Capiform on 7/28 as we show how implementing a digital PPP Loan Forgiveness option can set your credit union up for the coming digital transformation that members will demand.
Date: 7/28 at 11:30am-12pm EST
Continue reading “PPP Forgiveness: A Path Toward Digital Transformation”
What is the webinar about and what can attendees expect to learn?
Leading Well, Remotely. Taking care of your organization during times of transition.
The Paycheck Protection Program Flexibility Act of 2020 brings new guidance to the loan forgiveness process. The new act introduces leniency in the form of extended loan periods and new standards for employee compensation.
But despite this new flexibility, the hard part is still to come:
Handling forgiveness requests will be tedious, complex, and difficult. However, it doesn’t have to be. Credit unions can simplify the PPP loan forgiveness process for their small business members with member-driven design elements:
- Streamlined, intuitive UI/UX
- Transparency and gamification
Join Capiform and CU 2.0 for a webinar to discuss updates in documentation and submittal, automation opportunities, and improving the member experience. View the recording here!