COCC SELECTS WENDY DEMORE FOR SENIOR STRATEGIC PRODUCT ROLE

AVON, CONNECTICUT – MAY 17, 2005 —  COCC, a leading provider of next generation technology services for financial institutions, today announced that Wendy W. DeMore has joined the company’s executive management team as Senior Strategic Product Officer. In this new position, Ms. DeMore will oversee the strategic direction of COCC’s expanding product offering. 

“Today’s announcement positions COCC for the expanding role of technology services in the future of the banking industry,” said Richard A. Leone, President and CEO of COCC. “Our clients increasingly look to us to provide a comprehensive service offering that anticipates their needs. Ms. DeMore’s extensive banking experience will be invaluable in developing the emerging technologies that dramatically increase banking efficiency.”

In her new role, Ms. DeMore will monitor, research and analyze industry trends to help COCC’s executive team decide its product development direction. Ms. DeMore will also  assess customer needs to guide the planning, development and performance of COCC’s product and service offerings. 

“COCC is probably the most exciting place to work in banking right now,” said Ms. DeMore. “The company’s product set has expanded dramatically in recent years, while increasing product needs resulting from current market forces and the tightening regulatory environment continue to raise the bar for product development. With more financial institutions looking to COCC to deliver the benefits of technology in achieving their strategic goals, this position promises to have great impact on financial institution success for many years to come.”

During her career in the banking and retail industries, Ms. DeMore has accumulated extensive banking and financial services management and marketing experience. She hopes to share her understanding of the needs of financial institutions as she helps to determine COCC’s future product direction.

COCC has been particularly active in the financial services marketplace, signing 10 new core processing clients in the past year. Agreements with non-core clients for strategic products, particularly Oracle® Financials, image processing, networking and risk management, have pushed COCC to a record number of clients, and the market momentum shows no signs of slowing.

“Several years ago, COCC wisely decided to build its processing platform on an open core system,” said DeMore. “That decision and the product decisions following it have made COCC the premier service provider in the United States. I am proud to be part of this growing company.”