Concentra Bank Selects StereoLOGIC for Process and Task Mining Solution to Help Streamline Business Operations

TORONTO, Nov. 18, 2021 /PRNewswire/ -- Concentra Bank has selected StereoLOGIC to better automate registered plan administration, which helps onboard the bank's new clients and lets existing clients change or add to their registered financial products.

StereoLOGIC provides real-time visualization and measurement of business processes executed by employees, revealing what employees do, how much time they spend on different operations, and how much time could be saved by removing redundant activities and delays.

When fully implemented, Concentra Bank expects StereoLOGIC will reduce processing time significantly by uncovering ways to automate more processes and manage time effectively.

"We're honoured that Concentra has partnered with us to improve its business processes and operations," said Dr. Sofia Passova, CEO of StereoLOGIC. "By leveraging our process mining and task mining technology, Concentra will be able to expedite client processing and dramatically enhance productivity—efficiencies that reduce risk and add value for its customers."

"We're impressed by how quickly StereoLOGIC was able to develop analytics for us," said Kelly Sanheim, VP, Operational Excellence at Concentra Bank. "Its documentation of our less efficient processes was comprehensive and helped expedite improvements for our employees and customers."

About Concentra Bank
Concentra Bank collaborates with fintechs and credit unions to offer Canadians mortgages, savings products, specialty banking products, commercial lending and leasing solutions, and more. With a Schedule I bank licence and a federally regulated trust licence, it is the leading provider of wholesale banking and trust solutions to Canadian credit unions. www.concentra.ca

About StereoLOGIC, Ltd.
StereoLOGIC is a leading process discovery and mining solutions company that helps businesses improve their performance and success. The company offers a fully integrated Operation Intelligence, Processing Mining, and Task Mining platform. Such resources provide clients with accessible and efficient methods to hasten business processes and tasks, identify the best process candidates for automation and uncover millions of dollars in recoverable cost savings within one week of implementation. StereoLOGIC's patented strategies resolve current comprised performance issues that have resulted from a COVID-19 business climate. Learn more at www.stereologic.com.

SOURCE StereoLOGIC