Blue Prism® and Lateetud today announced that their joint solution has been named a finalist for the Artificial Intelligence 2021 Microsoft Partner of the Year Award. The solution was honored among a global field of top Microsoft partners for demonstrating excellence in innovation and implementation of customer solutions based on Microsoft technology.
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The Microsoft Partner of the Year Awards recognize Microsoft partners that have developed and delivered outstanding Microsoft-based solutions during the past year. Awards were classified in various categories, with honorees chosen from a set of more than 4,400 submitted nominations from over 100 countries worldwide. Blue Prism and Lateetud were recognized for providing outstanding solutions and services in the area of artificial intelligence.
“Blue Prism is excited to be recognized as a finalist for 2021 Microsoft Partner of the Year in the area of artificial intelligence, alongside our mutual partner, Lateetud. This intelligent automation solution made a real difference to people during the COVID-19 crisis, ensuring that small businesses, seeking to use the Paycheck Protection Program (PPP), were able to access loans quickly by reducing the loan approval process from weeks to hours. This is a clear example of the power of automation and its ability to make a difference to people, especially in times of need,” said Linda Dotts, chief partner strategy officer at Blue Prism.
Blue Prism and Lateetud created a turnkey, cloud-delivered solution on Azure to automate SBA PPP loans, combining Blue Prism’s intelligent automation platform with the Microsoft Power Platform and Azure Cognitive Services. The solution uses Azure Form Recognizer to transform unstructured data from a loan application into structured data for automated processing, Microsoft Power Platform capabilities for data extraction, workflow, chatbot and reporting and Blue Prism to automate and perform all Know Your Customer (KYC) and underwriting functions. It also includes a loan origination component.
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- Borrowers submit PPP applications through Lateetud’s borrower portal.
- Azure Form Recognizer then works to understand and extract data, while Power BI manages documents.
- When ready, Power Automate kicks off the digital workforce for processing via a Blue Prism-developed connector that integrates with every element of the Power Platform.
- Users can also engage with the bank throughout the process via Power Virtual Agents.
I am proud to acknowledge this recognition, on behalf of the entire Lateetud team alongside our partner Blue Prism and we thank Microsoft for all the support provided through the year,” says Murali Menon, CTO, Lateetud. “Through this combination of technologies, like Azure Form Recognizer and Microsoft Power Platform, along with Blue Prism intelligent automation, we have built a solution that banks can deploy to save jobs and small businesses. Processing loans faster, so individuals and businesses can receive their funds faster.”
“I am honored to announce the winners and finalists of the 2021 Microsoft Partner of the Year Awards,” said Rodney Clark, corporate vice president, Global Partner Solutions, Channel Sales and Channel Chief, Microsoft. “These remarkable partners have displayed a deep commitment to building world-class solutions for customers – from cloud-to-edge – and represent some of the best and brightest our ecosystem has to offer.”
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