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COCC ‘Apps’ to Accelerate Innovation for Financial Institutions

• COCC apps to accelerate financial institution responses to rapidly changing market conditions



• COCC’s apps leverage next generation platform to deliver more innovation to the financial services industry



• Additional innovations on the way as COCC develops its next round of easy-install apps



• Apps only available through new, “non-legacy” technology

Avon, Conn., August 18, 2011 – COCC, a leading provider of open, relationship-centered technology services for financial institutions, announces the availability of its first set of ‘apps’ designed to accelerate innovation for the financial services industry. The new COCC apps build on the company’s advanced core processing technology to distribute technology innovation at unprecedented speed. COCC’s new app approach enables financial institutions to adapt more rapidly to changing market conditions and to customize their technology solutions to their unique operational needs.

“Speed of implementation of new functionality has become a critical issue for today’s financial institutions, especially as they are called on to respond more rapidly to diverse service demands,” said Joe Lockwood, Chief Operating Officer at COCC. “Easy-to-install apps enable COCC to help financial institutions reduce the time needed to take maximum advantage of market conditions. We believe the app approach will clearly demonstrate the advantages of our next generation technology by enabling the top minds in our industry to collaborate on solutions and to deliver those solutions more rapidly than ever before in our industry.”

Prior to COCC’s apps, financial institutions typically upgraded their core processing technology through large scale software releases or outright technology conversions. The app approach bypasses these more disruptive upgrade methods by providing a library of solutions which financial institutions can browse, review and even try for free. User comments are available for each app, enabling financial institutions to fully understand what they are buying.

Mr. Lockwood emphasized that the app approach would not have been possible without the advanced core banking technology in use at COCC. Built on an Oracle database and developed using the latest .Net programming tools, COCC’s core banking technology is unusually adaptable to change and enhancement.

“The app approach to delivering solutions is simply unavailable to financial institutions that use older generation core processing platforms,” said Lockwood, “COCC is now able to respond to changing market needs faster than anyone in this industry. We put great stock in listening to our clients and implementing their strategies. Apps give these clients the responsiveness they need to succeed in today’s rapidly changing market for financial services.”