SOUTHINGTON, CT (April 17, 2024) |
COCC is spearheading the rapidly evolving landscape of modern banking by prioritizing instant payments, a critical factor in today's financial environment. By officially integrating the FedNow® Service into its offerings, COCC stands at the leading edge of this transformation, ensuring that its clients are well-equipped to meet the demands of expediency, reliability, and security in payment processing.
Achieving certification and officially launching the FedNow® Service early in the cycle highlights COCC's role as a key player in the shift towards real-time payment processing, emphasizing its commitment to providing cutting-edge solutions that uphold the highest standards of immediacy and security.
With BankNewport paving the way in faster payments, launching as an early adopter for both FedNow® and RTP, this dual-access capability ensures that both individual consumers and businesses benefit from a streamlined, secure, and rapid money transfer system, be it fund management, bill payments, or timely financial decisions.
“COCC is at the forefront of embracing and driving forward the future of payments, ensuring our network of banks and credit unions lead the charge in delivering exceptional services to their customers," said Matt L’Heureux, Senior Vice President & Chief Product Officer of COCC. " With the integration of the FedNow® Service in addition to the RTP network, COCC is committed in providing the tools and technology essential in empowering our clients the widest possible reach of instant payment solutions in today's dynamic and competitive financial environment."
The inclusion of FedNow® Service by COCC represents its dedication to modernizing banking experiences through advanced technology. As digital payments surge in popularity, the demand for versatile, comprehensive payment solutions becomes increasingly vital. With the launch of the FedNow® Service, COCC is committed to closing the gap between existing payment systems, aiming to achieve seamless integration of fast, efficient payments that serve the needs of its clients and their customers.
“BankNewport is delighted to offer our customers the convenience of receiving payments via the FedNow® Service.” States John Sullivan, Executive Vice President, and Chief Information Officer of BankNewport “FedNow® is a key component to BankNewport’s dedication to faster payments through forward thinking solutions aimed at improving the customer experience. COCC’s collaboration in making this a reality in a quick, efficient manner is deeply appreciated.”
For today’s financial institutions, embracing the FedNow® Service is more than a trend—it’s a strategic necessity that meets the modern banking customer's expectations for immediate, transparent, and dependable transactions. COCC’s initiative ensures that every transaction, whether managed by consumers or businesses, benefits from the heightened efficiency and security of instant payments. As expectations for instant payment solutions continue to rise, COCC remains at the cutting edge, ensuring community banks and credit unions are well-equipped for the future of banking.
As the payments industry continues to advance, join COCC as they merge innovation with trust, pushing banking to new digital horizons.