COCC's END-TO-END IMAGE PROCESSING WINS CONNECTICUT QUALITY IMPROVEMENT PRIZE

AVON, Conn. July 18, 2006 — The Connecticut Quality Improvement Award Partnership, Inc. (CQIA) announced that COCC has won a silver CQIA Innovation Prize in this year’s competition. COCC’s entry was End-to-End Image Processing which continues to  play a leading role in converting the financial industry’s check processing operations from paper to image.

“We are extremely pleased to receive this award,” said COCC’s president and CEO, Richard A. Leone. “From the beginning, COCC has taken a leadership position in converting the financial industry to this cost saving process. We knew early on that image would be the next big banking technology. This award aptly acknowledges that COCC is way ahead in implementing the benefits of check image exchange.”

Innovation award applications were reviewed by 18 examiners from diverse backgrounds, including company presidents, quality directors, business professors, and consultants. Applicants submitted a carefully written description of the opportunity, innovation and numerical results. Following a month of deliberations, COCC was notified that its application had won the award.

COCC began exchanging images on behalf of its client institutions more than a year ago and has steadily increased its image-enabled client base since then. The company has implemented image exchange at 20% of its check processing clients and supports the full range of image services, from outgoing image cash letters to image inclearing and return. COCC transmitted more than 500,000 check images to the Federal Reserve last month.

"It is inspiring to see so many organizations – large and small; public, private, government, health care, education and not for-profits – are so driven by innovation and performance excellence that they seek third party endorsement for their products and services from the Connecticut Quality Improvement Award's Innovation Prize," says Sheila Carmine, founder and executive director of the 19 year old Connecticut Quality Improvement Award Partnership.

CQIA helps Connecticut organizations achieve excellence through independent evaluation and by sharing quality improvement techniques. Seminars on quality improvement are hosted throughout the state and achievements are recognized at an annual conference in October.