Case Study: Concentra delivers COVID-19 relief loans in five days with Cinchy

How Concentra Bank delivered a COVID-19 relief loan program in five days and provided critical assistance to thousands of businesses

Concentra Bank, a Canadian provider of wholesale banking and trust solutions to credit unions, faced the challenge of rapidly distributing $200M in COVID-19 relief funds through its network of 35 credit unions. Their legacy systems were not scalable, and they needed to develop a secure, auditable digital loan platform within a tight five-day timeline. To overcome this, they partnered with vendor Cinchy and its Data Fabric platform.

Cinchy implemented its Data Fabric solution, which automated data streams and manual processes to create a seamless, secure application and reporting system. The entire end-to-end solution was delivered in just five days, enabling Concentra to process over 1,200 applications in the first week and efficiently distribute critical funds. The results included estimated savings five times greater than similar solutions and the creation of a flexible infrastructure for future relief programs.

Concentra

Jim Vibert

Director, Special Projects