The Small Business Administration’s Paycheck Protection Program went live today, and confusion reigned. Despite shelter-in-place mandates for better than 80% of Americans, some banks urged prospective borrowers to come into branches to fill out an application. And although digital applications are sometimes accepted, many FIs are still relying on manual processes and procedures to inbound the flood of applications.

The Bank Innovation team discussed these and other issues facing the fintech sector during the week of March 30, 2020.