Case Study: Financial Services Company achieves uninterrupted vendor payments during ransomware outage with Corcentric

Company Survives Ransomware Attack with Streamlined Payment Processing Services

Financial Services Company faced a ransomware attack that shut down a core accounting system and stopped vendor and employee payments. Corcentric responded as the vendor, leveraging its payment processing services—including check print and mail and electronic payment capabilities—and centralized billing to provide an emergency payment option and maintain continuity of accounts payable.

Corcentric issued organization-wide notifications, audited incoming vendor requests, centralized billing, and facilitated out-of-network check print-and-mail and electronic payments (via its connectivity to the customer’s treasury and card-issuing banks and PayNet). As a result Corcentric ensured vendors and employees were paid with virtually no disruption to payment speed, preserving operations for the Financial Services Company (annual revenue $8.1B+, Fortune rank ~400) despite the outage.