FI Consulting and U.S. Small Business Administration’s Loan Review Tool A Finalist For ACT-IAC Igniting Innovation Award
Loan Review Tool automates the U.S. Small Business Administration’s post-origination loan review capabilities and modernizes SBA processes, empowering the agency to review an increasing number of loans with greater consistency and accuracy of results, ultimately expanding the agency’s in-house capability to monitor risk.
ARLINGTON, VA – May 14, 2020 – FI is pleased to announce that the Small Business Administration (SBA) and its Loan Review Tool (LRT) has been selected as a finalist in the American Council for Technology and Industry Advisory Council’s (ACT-IAC) Igniting Innovation 2020 award.
LRT was developed in partnership with SBA by FI Consulting, Inc. (FI) as a solution to streamline SBA’s 7(a) Program loan review process. LRT achieves this by embedding SBA regulatory requirements, credit policies, and business rules into automated workflows that guide users through the review process leading to consistent, accurate, and auditable results.
LRT was built on Microsoft’s FedRAMP-certified Power Platform, leveraging components of FI Consulting’s Program Investment Manager software for federal credit programs. FI applied its unique combination of federal credit portfolio expertise, knowledge of customer business processes, and technical expertise to help SBA bring a high-impact, cloud-based business application from prototype to production in less than nine months.
“We are proud to have played a role in SBA achieving this well-deserved recognition,” said Robert Silverman, Managing Director responsible for FI Consulting’s Platform Applications business. “We congratulate each of the other finalists and look forward to learning more about all of the innovative solutions at the ACT-IAC Igniting Innovation 2020 Awards Ceremony in August.”
About FI Consulting
FI Consulting (FI) provides professional services and delivers custom and off-the-shelf solutions that help government agencies and commercial financial institutions gain better information, make insightful and substantiated decisions, manage risk, and improve performance. FI’s approach applies data, analytics, modeling, and technology through agile, customer-centric principles that recognize the complexities of our clients’ businesses as well as leading practices. Learn more at www.ficonsulting.com and join the conversation @FI_Consulting.
About the ACT-IAC Innovation Awards 2020
ACT-IAC’s Innovation Awards 2020 is the organization’s seventh annual premier event to identify, recognize, promote, and connect the best innovations and innovators to improve services to citizens and government operations. The finalists were selected from over 140 nominations, with innovations that support healthcare, defense, public safety, aviation, acquisition, workforce management, and finance and grants management. The finalists will exhibit their innovations at the Igniting Innovation 2020 Conference and Awards event on August 3, 2020, at the Marriott Marquis Washington DC Hotel. More information about the event can be found at https://www.actiac.org/events/igniting-innovation-2020-conference-and-awards.