Cinchy: Case Study: Concentra Bank: Leveraging a Data-Centric Approach to Build the Digital Bank of the Future
The dramatic improvement in the quality of service provided to Concentra Bank's customers is a direct result from the company's significant strides in adopting a data-centric approach to their business.
A clear example of how their leverage of Dataware and a data-centric approach, was their quick and efficient response to COVID 19. With the pandemic increasing the pace of organizational change in virtually every industry, Concentra Bank had to accelerate their plans as well. The data-centric philosophy and the strategic choice of Dataware were key to their ability to meeting challenges and enabling:
· Processing data for more than $520 million in COVID-19 relief loans within 5 days
· Adding 20+ credit unions to the platform
· Accelerating loan processing time by 4x
· Increasing over 10% in annual growth of loans
· Saving 50% on IT project time and development costs