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COCC Core Processing ‘Apps’ Raise Client Productivity

  • Productivity increases of 300 percent reported in key operational tasks;

  • 120 apps now available, providing unprecedented opportunities for COCC clients to customize their approach to banking; and

  • 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.”