Bank transforms portfolio management
Founded more than two decades ago in the Pacific Northwest, this community bank offers banking and financial services to businesses and individuals. Throughout its many years of success, it has relied on two tenants: a commitment to people and community and a focus on growth. This strategy has helped it grow to more than 150 branches and expand the services it offers while remaining dedicated to its employees and the local communities in which it operates.
Following a merger with another large regional bank, disparate systems made forecasting cash flows, evaluating loans, and showing accurate loan balances difficult. Varying expectations for performance and efficiency also created a cultural divide between employees the merger had brought together.
To bridge not only technological but also cultural differences, Concentrix Catalyst developed an automated business planning, budgeting, forecasting, and analysis platform. The platform streamlines the banking process and enables data-driven decision-making, which helped bridge the gap between teams by helping them easily manage and evaluate their portfolios in a single, unified platform. With a new analytics process in place, the bank rapidly transformed its planning cycle and aligned teams to its financial goals.