COCC, a leading provider of innovative fintech solutions for community banks and credit unions, is thrilled to announce a strategic partnership with AvidXchange, a leading provider in accounts payable (AP) automation software and payment solutions for mid-market businesses and their suppliers. Through this new relationship, COCC will introduce its clients to AvidXchange’s accounts payable automation solution specifically designed to help financial institutions streamline invoice routing, approvals, accounting workflows, and electronic payments. This collaboration provides financial institutions with a faster, easier and more secure way to process invoices and payments, transforming paper-based AP processes into streamlined digital workflows.
AvidXchange delivers a wide range of features tailored to the needs of banks and credit unions, including OCR invoice capture, automated GL allocation, and multi-level approval routing. Through one automated accounting solution, institutions can electronically manage their accounts payable process, vendor payments, fixed assets, expense reports, prepaids and accruals, and more.
Together, these capabilities help institutions centralize AP workflows, streamline processing, and strengthen operational efficiency. AvidXchange also offers a payment automation solution that enables users to replace paper checks with secure electronic payments, helping institutions reduce fraud risk and processing costs, improve efficiency and compliance, and fully automate the invoice-to-pay process. By evolving toward an automated, cloud-based solution, banks and credit unions can optimize the use of time and resources, enabling staff to focus more on higher-value activities such as financial analysis or customer service.
“This partnership gives community banks and credit unions a smarter way to modernize accounts payable without adding complexity,” said Elizabeth Caplan, SVP and Chief Transformation Officer at COCC. “By pairing proven automation with practical controls, institutions can reduce friction, improve visibility, and give their teams time back to focus on higher-priority initiatives.”
By partnering with AvidXchange, COCC continues to expand the ecosystem of modern solutions available to its clients, ensuring that community institutions remain at the forefront of efficiency and compliance in an evolving digital era.
“Community banks and credit unions shouldn’t have to choose between speed, control, and security,” said Michael Praeger, CEO and Co-Founder of AvidXchange. “Through our partnership with COCC, more institutions can give their AP teams a simpler path from invoice to payment – reducing manual work, improving visibility, and freeing staff to focus on the people and priorities that matter most.”
About AvidXchange®
AvidXchange is a leading provider in accounts payable (AP) automation, offering intelligent AP software and payment solutions specifically designed for middle market businesses and their suppliers. With 25 years of industry experience, AvidXchange modernizes the way businesses manage their expenses and payments by offering AI-enhanced software coupled with support from experts. Empowering over 8,500 growth driven businesses, AvidXchange increases efficiency, control, and visibility in financial operations and has securely processed payments to more than 1.3 million suppliers through its proprietary payment network over the past five years. Additionally, AvidXchange is a licensed money transmitter for B2B payments in the United States, licensed as a Money Transmitter by the New York State Department of Financial Services, as well as all other states that require AvidXchange to have a license. For more information, visit avidxchange.com.
