Press
Record Earnings, Awards and New Business for COCC in 2011
For Immediate Release
Contact: Robert Bessel
Public Relations Director
COCC
860.674.7214
robert.bessel@cocc.com
- Eight new financial institutions select COCC for core processing clients services
- Earnings grow by 6% to a new revenue record
- American Banker, Inc. 5000, Connecticut Technology Council and Marcum recognize COCC for growth
- Client ratings extend COCC’s reputation for excellent service
- The Hartford Courant and Fox CT name COCC a 2011 Top Workplace
Avon, Conn., February 7, 2012 – COCC, a leading provider of open core processing services for financial institutions, announced record earnings, awards and new business in 2011. The company attracted eight new core processing clients and increased its revenue by six percent over 2010. At the same time, client ratings reached an all-time high, and industry organizations recognized COCC for growth and excellence.
“Our ‘can do’ attitude influenced everything we did in 2011 and is powering us into 2012,” said Richard A. Leone, President and CEO. “We are delivering high profile products to address the growth and technology needs of financial institutions throughout the Northeast. The foundation for these products – our INSIGHT system – continues to gain market share as a result of its next generation flexibility, capability and integration. We are pressing forward with a host of new product and service initiatives as well as new client prospects for the year ahead.”
Four independent organizations recognized COCC for growth and excellence in 2011. Inc. 5000 listed COCC among the 5000 fastest growing companies in the United States, and American Banker recognized COCC as one of the 100 largest financial technology firms worldwide. The Connecticut Technology Council and Marcum cited COCC as one of the 40 fastest growing technology companies in the state, and the Hartford Courant and FoxCT named COCC a Top Workplace in Connecticut.
Client ratings reached an all-time high of 4.46 on a scale of 1 to 5. Mr. Leone pointed to the high tech/high touch relationship with clients as the secret to COCC’s success.
In 2011, COCC took a major step forward in innovation with the introduction of ‘INSIGHT Apps’ – a revolutionary method for delivering core processing innovation. INSIGHT Apps enable clients to bypass large-scale software releases as the common method for enhancing their core processing systems. Instead, COCC clients can browse a library of solutions, select what they want, and even try a solution for free.
“The app approach to delivering solutions is simply unavailable to financial institutions that use older generation core processing platforms,” said Mr. Leone, “COCC is now able to respond to changing market needs faster than anyone in the banking industry. Apps are just one example of how our innovations enable our clients to succeed in today’s rapidly changing market for financial services. We are proud to be recognized as the premier provider of core processing services to financial institutions in the Northeast.”
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About COCC
COCC is an award-winning core processing service for financial institutions throughout the northeastern United States. One of the fastest growing companies of its kind in the nation, COCC has been recognized as a 2011 Top Workplace by the Hartford Courant and Fox CT, and is a member of this year’s FinTech 100 and Inc. 5000. This client-owned company provides a complete suite of innovative outsourced technology services based on an open, relational processing platform built on an Oracle database. With clients as owners, service comes first. For more information about COCC, please visit www.cocc.com.
Media Relations
Robert Bessel
Public Relations Director
COCC
860.674.7214