Credit unions and community banks using COCC as their service bureau for core processing will now be offered an integrated enterprise risk management solution from Fortress Risk Management, the Connecticut companies said.
The Fortress solution provides detailed views of government regulation and compliance requirements, audit policies, system intrusion and transaction fraud across all consumer and business accounts and can be customized to meet specific institution requirements, the companies said.
“This comprehensive solution offers around-the-clock protection against the broad spectrum of risk, giving our clients better intelligence and greater peace of mind,” said Joe Trafton, senior vice president and chief strategies officer at COCC in Avon, Conn. He said it will be integrated with the company’s core processing platform.
Ray Seefeldt, president of Fortress Risk Management, in Glastonbury, Conn., said, “Both companies and our clients will benefit from this partnership as the enterprise risk components of Fortress streamline the institutions’ compliance processes to save time and resources.”
Client-owned COCC provides technology services to more than 165 financial institutions, including about 40 credit unions, the company said.