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Leading Financial Services Company, COCC, Uses Oracle(R) and Novell's SUSE Linux Enterprise Server to Deliver Critical Functionality to Community Bank and Credit Union Customers

Migration to Oracle on Linux Reduces Hardware Costs by 40 Percent and Delivers Significant Cost Savings

BOSTON, LINUXWORLD, April 4 /PRNewswire/ -- COCC, a leading provider of next generation technology services for financial institutions, is relying on Oracle(R) Financial Management, a part of the Oracle E-Business Suite and Oracle Database running on SUSE Linux Enterprise Server from Novell, to provide community banks and credit unions with advanced financial management services at their desktops.

(Logo: http://www.newscom.com/cgi-bin/prnh/20020718/ORCLLOGO )

Headquartered in Avon, Conn., COCC provides state-of-the-art technology platform to more than 140 community banks and credit unions in the Northeast, processing over 7 million check images each month and servicing more than 7,000 workstations and 540 ATMs. To help ensure the secure transfer of vital, private, financial data, COCC needed a highly available, reliable IT infrastructure that could also improve efficiencies and deliver significant cost benefits.

"As a service bureau for regulated financial services customers, security and reliability are of paramount importance to COCC," said Brent Biernat, director of network services, COCC. "Deploying Oracle Applications and Oracle Database on Linux enabled us to significantly lower costs and at the same time achieve high security and performance milestones. This, along with the time savings we achieved, translated into faster service enhancements for our customers."

Migrating to Intel boxes running SUSE Linux Enterprise Server enabled COCC to significantly decrease system downtime associated with upgrades, freeing up valuable DBA time for more strategic projects, such as creating innovative products for customers. As a result of the migration, COCC was able to reduce its hardware costs by 40 percent and decrease its software licensing and labor costs significantly each year.

Visibility and Efficiency in Core Banking and Compliance

COCC has configured Oracle Financial Management, an integrated family of applications for the automation of corporate finance processes and preparation of management and external reports, to the unique needs of community banks and credit unions. Both Oracle Financial Management and COCC's core banking transaction system are built on the Oracle Database, enabling COCC to deliver a powerful combination of advanced capabilities on a single, integrated technology foundation. COCC's implementation of Oracle Financial Management gathers information from every source of financial transactions at COCC, including teller, debit, ATM and Internet banking activity, and delivers that information to improve management's visibility and control. COCC also provides full check imaging and network management services as well as centralized electronic report access and professional consulting.

About COCC

COCC is one of the fastest growing data processing companies in the nation. Established in 1967, this client-owned company provides integrated processing solutions to financial institutions using the latest open systems. COCC's full service offering goes well beyond the traditional systems approach. Hands-on support from account processing to secure Internet access are the hallmark of COCC's Total Quality Processing.

About Oracle

Oracle is the world's largest enterprise software company. For more information about Oracle, please visit our Web site at http://www.oracle.com/ .

Trademark

Oracle, JD Edwards, PeopleSoft, and Siebel are registered trademarks of Oracle Corporation and/or its affiliates. Other names may be trademarks of their respective owners.

Oracle Corporation

CONTACT: Teri Whitaker of Oracle, +1-650-506-9914, or
[email protected]; or Nicole Maloney of Zeno Group, +1-415-369-8103, or
[email protected], for Oracle

Web site: http://www.oracle.com/

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