Eight new core processing clients signed on at COCC as revenue grew by 6% to a new record, the company said.
The client-owned Avon, Conn., firm provides core processing and other services to community financial institutions through a hosted environment based on an Oracle relational database-powered system from Open Solutions Inc.
COCC said it currently has 170 clients overall, including 39 credit unions, with 142 of them, including 28 credit unions, running their core processing there.
The company said new products and service initiatives are planned in 2012, building on 2011 advancements that included the launch of INSIGHT Apps, which allows COCC clients to bypass large-scale software releases by downloading individual apps to enhance their core systems.
“The app approach to delivering solutions is simply unavailable to financial institutions that use older generation core processing platforms,” said COCC President/CEO Richard Leone.