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Productivity increases of 300 percent reported in key operational tasks;
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120 apps now available,
providing unprecedented opportunities
for COCC clients to customize their
approach to banking; and
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Apps leverage COCC’s
“non-legacy” platform to bypass
cumbersome software upgrades and deliver
more leading-edge innovation faster.
Avon, Conn., March 28, 2012
– COCC, a leading provider of open, core
processing services for financial
institutions, announced that clients are
significantly raising the efficiency of key
banking operations as a direct result of
core processing ‘apps’. COCC’s clients are
reporting productivity gains of 300 percent
and greater opportunities for customization.
“Core processing apps are turning heads in
the banking industry,” said Joe Lockwood,
Chief Operating Officer at COCC. “The
variety of apps, the speed of deployment,
the ease of customization, and our growing
inventory have enabled COCC to dramatically
expand the number and depth of enhancements
available to our clients.”
Apps literally ‘plug into’ the financial
institution’s core processing platform,
making them the most efficient method for
delivering innovation on the market today.
Apps are made possible by extensible
architecture in use at COCC. Older core
processing systems are unable to use this
advanced technology, forcing them to accept
significantly slower methods for enhancing
their systems.
Among the 120 apps now available to COCC
clients, ‘Overdraft Research’ is the
productivity home run.
Michelle Hanlan, Deposit Operations
Specialist at Windsor Federal Savings in
Windsor, Connecticut, reported that the
Overdraft Research App delivers a 300
percent increase
in Customer Service Call Center productivity
when explaining overdraft situations to
customers.
“With the click of a button, we can explain
an overdraft situation to a customer in one
third of the time,” said Ms. Hanlan. “No
longer do our employees have to tell the
customer: ‘Please hold a moment while I look
up the information.’ Employees love the
ability to respond quickly with ease.”
Marsha Rasin, IT Manager at Peoples Federal
Savings Bank in Brighton, Massachusetts
reported a similar experience with the
Overdraft Research app, adding, “This app
has greatly reduced research time for
complicated situations at our bank,
especially when the transactions happened
some time ago.”
Beyond the large gains in productivity, apps
offer unprecedented opportunities for
financial institutions to customize their
capabilities. Depending on the apps selected
and the way they are implemented, each
financial institution can present a unique
face to the public that goes far beyond
differences in interest rates or fees.
“Apps really enable our bank to tap our
market based on our unique identity,” said
Brian Coakley, Chief Information Officer at
North Country Savings Bank in Canton, New
York. “The .NET infrastructure behind these
apps expands my ability to integrate
additional data and capabilities to meet our
challenges in our own way. That’s why core
processing apps appeal to me.”
Apps available to COCC clients encompass a
wide range of capabilities, from a custom
graphic interface for the core processing
system to a verification mechanism for
checks deposited via remote deposit capture.
“The growing selection of core processing
apps is increasing COCC’s value as a
solution provider,” said Mr. Lockwood. “This
is a great time for the financial industry
as it begins to emerge from the economic
downturn. Core processing apps will keep our
clients at the leading edge of their
marketplaces for the foreseeable future.”
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