COCC Acquires BOLTS Technologies ACH Manager Product
December 2017, Southington, Conn. – COCC, a leading provider of core processing technology for community banks and credit unions in the Northeast U.S., has recently purchased the ACH Manager product from BOLTS Technologies.
COCC has been utilizing BOLTS Technologies’ ACH Manager product for several years and has offered it as part of its robust cash management suite. Now, COCC will own the source code, allowing for development and enhancement of the product entirely in-house.
ACH Manager securely receives and processes ACH origination files from various channels. Transactions are checked and filtered for business rules violations before they are processed, thereby proactively managing risk inherent to ACH transactions. Throughout the day, ACH files are received, validated, approved, and processed end-to-end with little manual intervention. The system is fully integrated within the iBanking and COCC INSIGHT core system.
“We are pleased to now be able to conduct our own enhancements and developments on this product,” said Joe Lockwood, President and Chief Operating Officer of COCC. “Owning the source code now allows us to integrate ACH Manager directly into iBanking to provide maximum capabilities and efficiencies to the financial institutions.”
“Our cash management suite of products and services continues to grow,” added Richard A. Leone, Chief Executive Officer. “Our clients look to us for the developments they need to better serve their business customers. We’re thrilled to have come to this deal with BOLTS that gives us more ways to innovate for our clients.”
About BOLTS Technologies
BOLTS Technologies specializes in providing software that speeds up the account opening process, improving the customer experience and allowing the banker to spend more time helping new or existing depositors with other banking business. The BOLTS account opening solution assists the branch employee by allowing them to onboard customers anywhere using a tablet. This system also gives customers the ability to open accounts on their own either online or through a mobile application. BOLTS has reduced account opening to 3 minutes for a new customer and 90 seconds for an existing customer.
COCC is an award-winning client-owned financial technology company servicing financial institutions throughout the Northeastern United States. Launched in 1967, COCC was founded by its clients. This unique cooperative structure has set COCC apart from the competition and is one of the driving forces behind their success. COCC is the fastest growing financial data processing company in the United States and recognized as a leader in delivering innovation and the quality service financial institutions demand and deserve.