Overview
Federal Home Loan Bank (FHLB) of Cincinnati is a regional wholesale bank, providing financial services to over 600 member institutions in Kentucky, Ohio, and Tennessee. FHLB Cincinnati’s mission is to provide members with reliable funding to support housing finance, affordable housing and community investment, and to assist with balance sheet management.
A key service facilitating FHLB Cincinnati’s mission is same day access to liquidity and term finance. These loans, called Advances, are fully secured and offer flexible terms at competitive interest rates. However, the process for member institutions to apply for Advances was cumbersome and manual, requiring members to apply via telephone or fax. FHLB sought to improve the member experience by digitizing the Advances application process.
With the project underway, FHLB was keen to improve time to market by leveraging a consulting partner. That's when FHLB reached out to Callibrity.