How Fiserv’s partnership with VMware enabled it to launch a PPP application in 8 days
- Time was of the essence for SMBs when the Cares Act was announced.
- The two companies stood up a PPP app that was responsible for distributing $1.4 billion in PPP loans.

When the SBA's Paycheck Protection Program was first announced, financial services technology company Fiserv quickly sought to build a solution for financial institutions to accept applications from small businesses seeking relief.
Time was of the essence. Fiserv partnered with VMware and in 8 days, the 2 firms moved an app into production to equip banks and credit unions to accept PPP applications through their websites and online banking portals. The app enabled SMBs to quickly apply for funding. While managing documentation and onboarding the loans, it also gave financial institutions the ability to route to the SBA E-Tran system for approvals
Tens of thousands of SBA PPP loan applications were processed on the app and more than 18,000 U.S. small businesses were awarded loans, totaling nearly $1.4 billion in loans distributed.
Tearsheet sat with Fiserv SVP and CIO Keith Fulton to learn more about the partnership.
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Why partner with VMware?
Our goal is to provide our clients with innovative solutions that allow them to further their business strategies via their preferred technology operating model. With VMware, we are able to deliver our solutions in a flexible manner wherever our clients want to meet us, which encompasses options across a private, public or hybrid cloud.
What was Fiserv looking to do and for whom?
When the CARES Act was signed into law, we saw an opportunity to help our financial institution clients and – perhaps even more importantly – the communities across the United States they serve. Through our solution, which we were able to get up and running shortly after the Act went into effect, we were able to help our financial institution clients quickly and efficiently get much needed funds into the hands of small businesses and other entities that qualified for loans under the Paycheck Protection Program. All told, more than 18,000 loans were applied for and granted through our solution, translating to more than $1.4 billion.
What kind of resources did it take to support this project?
There were 15 development resources assigned to the project, and the project had the full support of the executive team and close support from dozens of associates across the company – from product management and education services to sales enablement, marketing and client support, including a dedicated team of specially trained Tier 1 and Tier 2 client support analysts.
What has the feedback been from businesses that used the portal?
After attempting to submit SBA loan applications on their own or using other solutions, many financial institutions realized the benefits of a digital PPP loan origination system provided by their core account processing provider. One of our financial institution clients, Bank OZK, was able to get more than 2,000 PPP loans approved through the SBA in two days.
Another client, Carter Bank & Trust, was able to assist not only existing SBA clients but also clients from well beyond their geographical region to obtain funding under the PPP program. While our direct relationships are with financial institutions rather than their borrowers, we have learned anecdotally and at second hand of the gratitude and relief expressed by many of those who received PPP loans through financial institutions using our solution.