Cinchy Launches Credit Union Edition of its Dataware Platform

• Data firm Cinchy unveiled the Credit Union Edition of its Cinchy Dataware Platform today.
• The solution is made specifically to help credit unions easily access and leverage their data without having to replace their core banking system.
• Cinchy won Best of Show for its demo at FinovateFall 2019.

Data access and control firm Cinchy unveiled a credit union-specific solution today. The company is launching The Credit Union Edition of its Cinchy Dataware Platform to help credit unions extend the life of their core systems, avoiding the need to replace their existing core with a new one.

The new solution enables credit unions that are currently constrained by their core banking systems. Many of the outdated systems result in siloed data, which makes it difficult for the credit union to leverage their data to create better systems, an improved user experience, and cost savings.

Cinchy’s calls the capability “liberating data.” Today’s new launch enables credit unions to access their data in three ways. First, with real-time data from core banking system and applications without the need for copy-based integration. Second, with tools including auto-versioning, auto-backup, auto-protection, auto-correction, and auto-tracking. And third, with user accessibility that allows for instant collaboration.

“At Cinchy our goal is to enable organizations to save money by liberating and controlling their data in ways that were not previously possible,” said Cinchy CEO Dan DeMers. “Today we’re making this a reality for credit unions with the introduction of the Cinchy Dataware Platform Credit Union Edition.”

Founded in 2017, Cinchy leverages data fabric to help banks access data from apps and other silos and assemble it within an easy-to-access data network. Among the company’s clients are TD bank, Colliers International, AIS, and Natixis. Cinchy has been named a Deloitte Technology Fast 50 Company to Watch and a Top Growing Canadian Company by The Globe and Mail. The company most recently demoed at FinovateFall 2021 and won best of show for its demo at FinovateFall 2019.

Photo by Markus Spiske