Red River Bank provides crucial COVID-19 relief funds to customers fast

The Louisiana bank makes business process improvement a priority.

As the Red River Bank has grown, finding integrated solutions blending people and technology to enhance scalability, capacity, and efficiency has become more apparent and critical to the bank’s continued success. To support these efforts, Red River Bank needed an automation platform that was not only cost-effective and met their technology requirements, but one that was also flexible and easy enough to use.

After evaluating several options, the bank selected the Nintex Process Platform to begin its automation journey.

When the Small Business Association rolled out details of the Paycheck Protection Program (PPP) as part of the recently passed CARES Act, Red River Bank knew it would need to act fast to make these loans available to its customers. However, the business banking software providers the bank met with said their solutions would be ready at least one week after the government finalized PPP requirements. For Red River Bank – that was just too long.

36

hours to build a solution, vs. 1+ weeks with packaged solutions

1,400+

onboarding applications, resulting in $198M in SBA loans in first round of PPP

~30

minutes saved per application

Company
Red River Bank
Website
Industry
Financial Services
Country
Capabilities Used
Advanced Workflow
Modern Forms
Connectors
DocGen®

Who they are

Red River Bank is the sixth-largest Louisiana-based community bank and serves customers from its 25 locations. Headquartered in Alexandria, Louisiana, and founded in 1999, the bank provides a fully integrated suite of banking products and services tailored to the needs of commercial and retail customers.

What they need

The U.S. Treasury implemented the Paycheck Protection Program (PPP) to support businesses and utilized banks to process and distribute proceeds. Red River Bank needed a way to onboard, process and submit for SBA approval.

How they did it

After evaluating several packaged solutions, Red River Bank decided to build its own solution using Nintex Forms, Nintex Workflows, and Nintex DocGen with a connecter to DocuSign for electronic signature.

Meeting unexpected demand

Aaron Nation, VP and Chief Data Officer at Red River Bank, had already begun designing an online application and workflow process using the Nintex Process Platform. He had demonstrated the platform to the bank’s President and CEO, R. Blake Chatelain, and other executives showing how the PPP application process could be simplified and expedite the loan process to get money into the hands of their customers as quickly as possible.

The next day, the Nintex solution went live and customers were invited to submit applications. Getting the loan application solution from idea to production in about 36 hours—including time to coordinate with third-party providers—was a huge win for Red River Bank and its customers. Red River Bank was one of the first to market with PPP loans in the region, beating national competitors by several days.

I don’t know how many people and how much money it would have taken to close that volume of loans without Nintex—and I’m glad we didn’t have to find out.
– Aaron Nation, VP and Chief Data Officer, Red River Bank

See what Nintex can do for your business