Case Study: Citizens Bank approves $50M in PPP loans and protects 8K+ jobs with monday.com

Citizens Bank approves $50M in PPP loans with monday.com

Citizens Bank, a mid-market financial services institution, faced an immense challenge processing a flood of Paycheck Protection Program (PPP) loan applications following the CARES Act. Their existing siloed systems using shared files and folders were insufficient for the unprecedented volume, risking their ability to quickly distribute crucial funds to small businesses and protect jobs during the Covid-19 crisis.

Using the monday.com Work OS, the bank built a complex, interconnected workflow over a single weekend to manage the entire loan process from application to closing. This solution provided full transparency, automated notifications, and streamlined data accuracy. As a result, monday.com enabled Citizens Bank to approve over 500 loans totaling $50 million in just 100 days, protecting more than 8,000 jobs and saving 28,000 manual actions per month.

Citizens Bank