COCC HOSTS COMMERCIAL SERVICES SEMINAR

AVON, Conn., May 10, 2007 – COCC, the region’s leading provider of next generation technology services for financial institutions, presented its advanced business banking technology solutions to client institutions assembled in Sturbridge, Massachusetts on May 9. Branded “Business Builder,” COCC’s full range of commercial processing solutions cover every aspect of business banking and is in widespread use today.

“In the face of shrinking retail product margins, many community banks and credit unions are focusing their product and marketing efforts on attracting business accounts,” said COCC’s Senior Vice President and Chief Services Officer, Mark Shaw. “COCC’s Business Builder technologies provide the horsepower behind a financial institution’s commercial services, keeping them flexible yet manageable and profitable.” 

Today’s business banking needs extend well beyond the commercial checking and loan accounts that have long defined the business banking marketplace. Technologically savvy businesses expect sophisticated cash management services, the ability to make check deposits without leaving the business office, relationship pricing, and extensive online capabilities.

Christine Barry, research director for the Aite Group, recently wrote, “more than 40% of small businesses bank online and prefer this channel over all others. For 55% of small businesses, online capabilities are now a primary consideration during the bank selection process.”

COCC’s seminar went into considerable depth on the company’s online capabilities as well as its cash management, business lending and deposit solutions. Seminar attendees also heard about COCC’s payment and payroll options, portfolio management services, and check image processing capabilities.

“The seminar provided an in-depth look at the strategies for implementing business banking both today and tomorrow,” said Shaw. “I know we turned a few heads when the audience saw the full breadth of our service capabilities.”

Over the past several years, COCC has signed a series of service agreements with commercially-oriented community banks and credit unions looking to serve client businesses. These institutions are finding that open technology makes a big difference in their ability to meet key business objectives, such as growing deposits, expanding loan relationships, and quickly adapting to market changes. The open technology simplifies the implementation of new product features.

“COCC’s technology platform makes it easier to install new functionality, such as relationship pricing, eStatements, and portfolio management solutions,” said Shaw. “Having all these solutions under one roof with support staff in constant communication is another COCC advantage. Several of our client institutions were first in their markets as a result of COCC’s expertise in implementing and supporting these leading edge solutions.”

COCC’s president and CEO, Richard A. Leone, added, “Years ago, COCC was considered a retail institution’s processor. Following our upgrade to new core technology and expansion of our strategic product offering to include top-of-the-line processing capabilities, we offer the products, services and in-depth service culture to fully support the new breed of community bank and credit union. Our clients are excited about COCC’s capabilities and the ability to succeed in the commercial services marketplace. We were very pleased to present these capabilities at our Business Builder seminar.”