Amid the unprecedented and disruptive health, social, political, economic, and operational challenges caused by COVID-19, the largest small business lending relief program in U.S. banking history was born. The Paycheck Protection Program, enabled by the extraordinary efforts of the banking industry, also caused fundamental change among banks themselves. KPMG worked with several small business lenders to mobilize new processes, deploy new technology solutions, and design new delivery channels in line with emerging regulatory guidance.
With the support of KPMG, these small business lenders were able to transform their operating models at a pace rarely seen before and successfully provide small businesses with the financial support necessary to maintain their payrolls. In so doing they increased the trust of their customers and the communities they serve. They also learned what businesses of all types have come to realize: when you earn and deserve the trust of all your stakeholders, you create a solid platform for responsible growth, confident decision-making, bolder innovation, and sustainable advances in performance and efficiency.
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