The recognition highlights the Bank’s digital innovation and commitment to supporting customers through the pandemic
ROCKVILLE, Md., June 23, 2021 (GLOBE NEWSWIRE) -- Capital Bank, N.A., has been named a 2021 winner of the Nintex Solution Innovation Award in the “Business Continuity” category. Nintex selected Capital Bank for its innovative response in digitally transforming its SBA application process, leveraging existing technologies in new ways to create a secure, end-to-end automated solution to support the launch of the Paycheck Protection Program (PPP) – offering a lifeline to small businesses during the pandemic.
“This recognition from Nintex is deeply meaningful for us,” said Capital Bank CEO Edward Barry. “Helping small businesses navigate PPP and secure the capital they needed to survive during the pandemic was uniquely challenging yet extremely rewarding for our entire team. It took every ounce of our energy, while requiring rapid innovation in our technology, operations and customer service processes.”
Capital Bank responded immediately during the COVID-19 pandemic to aid small businesses seeking a U.S. Small Business Administration (SBA) PPP loan. In only five days, the bank created an efficient solution that included an easy-to-use portal to which PPP applicants could upload their SBA-required documentation.
The application process proceeded at an emergency pace even as SBA developed and refined the program’s procedures and technology, requiring Capital Bank staff to quickly adapt to help PPP applicants successfully submit their documentation to the SBA for loan authorization.
After the first round of PPP funding was exhausted, the bank pivoted quickly for the second round, implementing lessons learned from the first round, automating workflow and making the application process even more seamless for customers. By the end of 2020 Capital Bank ended up helping a total of 1,255 small businesses secure $239 million in PPP loans, supporting more than 37,000 employees.
“We demonstrated through our innovative performance that we are here for small business owners no matter what,” added Barry.
Nintex Solution Innovation Award winners were selected by a panel of judges based on nominations submitted by Nintex customers or Nintex partners, on behalf of a customer, for process solutions they designed and implemented.
“Each year we are inspired by the incredible impact customers and partners are achieving around the world driving digital transformation across their organizations by leveraging Nintex capabilities,” said Nintex Chief Executive Officer Eric Johnson. “Nintex is honored to recognize Capital Bank as a 2021 Nintex Solution Innovation Award winner for its success in improving the way people work with the Nintex Process Platform.”
About Capital Bank
Capital Bank, N.A., is the fifth largest bank headquartered in Maryland at March 31st, 2021. The Bank has been providing financial services since 1999 and now operates branches in four locations in the greater Washington, D.C./Baltimore metro area. The Bank is a wholly-owned subsidiary of Capital Bancorp, which had assets of approximately $2.1 billion at March 31st, 2021; its common stock is traded in the NASDAQ Global Market under the symbol “CBNK.”
About Nintex Solution Innovation Awards
Nintex Solution Innovation Awards recognize Nintex customers in every industry and geography for their digital transformation success with the Nintex Process Platform. To learn more about the Nintex Solution Innovation Awards and to see the complete list of winning organizations, visit https://www.nintex.com/solution-innovation-awards-2021/.
On The Marc Media
Source: Capital Bancorp, Inc.