COCC’s Spring 2018 Cash Management Forum “Extremely Valuable”

On Friday, March 23, COCC’s Cash Management Forum took place at our headquarters in Southington, CT and included 70+ cash management professionals. We were joined by Stephen Wooters, EVP of eBanking at Fairfield County Bank, and Sean Carter, President & CEO of NEACH; and on the COCC side, team members from Relationship Management, Strategic Products, Advanced Banking Group and Payment Services.

The day kicked off with a presentation from Sean Carter, who covered risk assessments across the organization and RDC audits, touching on the importance of having a payments strategy in place that has been shared and approved by the financial institution’s Board of Directors. An attendee from Torrington Savings Bank commented, “The best part of all the forums to date. Sean did a fantastic job educating us. Took four pages of notes. Lots of good things to think about.”

Following the discussion on Payment System Risks, Stephen Wooters covered treasury and banking related to account analysis. Stephen emphasized the value that community banks and credit unions provide to their clients. The Provident Bank stated, “It was probably very validating to a lot of the banks in the room that provide a high level of service, rebating fees, etc. that it’s okay to do that. You just need to be able to collect the data to support taking that approach.”

In the afternoon, COCC hosted a panel discussion “iBanking for Commercial Use – Town Hall Discussion” focusing on commercial enhancements. The panel featured COCC’s Rich Wood, FVP, Systems & Programming; Jeff Troutman, VP, Client Services; Jeff Dayton, Product Manager, ABG; Jill Flaherty, Manager, Strategic Products; and Caitlin Cantle, Client Services Supervisor, ABG. An attendee commented, “This was extremely valuable. I appreciated being part of the discussion and helping to decide how the enhancements should work. This should be a part of every CM Forum.”

During the forum, the Cash Management advisory board was formally introduced and we thank them for volunteering their time and energy into planning the agenda for the next Cash Management Forum being held on September 28, 2018. Financial institutions will learn about the agenda and how they can also have a hand in the planning as our advisory board rolls out the meeting scheduled for later this year. Mark your calendars for September 28 and be on the lookout for more information from the CM Forum Advisory Board.