First National Bank Selects Online Resources’ Web-Based Collections
February 17 2010 - 9:00AM
Business Wire
Online Resources Corporation (Nasdaq: ORCC), a leading provider
of online financial services, today announced that First National
Bank of Omaha, the 12th largest U.S. credit card issuer, signed a
multi-year agreement for the Company’s online collections
service.
First National Bank chose Online Resources’ award-winning
Virtual Collection AgentTM to provide a fully compliant, 24x7
online customer service and collection environment for its more
than 2 million bank cardholders. With this agreement, Online
Resources now provides its collections service to half of the top
12 U.S. card issuers, with some clients seeing reductions in credit
card charge-offs by 10 percent or more and recovering over $40
million in delinquent debt per month.
First National Bank will have the flexibility to rapidly scale
their debt recovery efforts in response to their changing business
and market needs, without adding labor costs. For example, by using
integrated consumer analytics and a full suite of payment
processing capabilities, the Bank will be able to maximize results
through real-time adjustments to their collection strategy, such as
introducing new payment plan offers.
“As a long-time credit card industry leader, First National Bank
understands the considerable value that technology brings to each
stage of the cardholder relationship, including the collections
stage,” said Robert R. Craig, executive vice president and general
manager of eCommerce Services for Online Resources. “We are pleased
to work with First National Bank to enhance their robust credit
card services with our Virtual Collection Agent.”
In addition to its industry-leading receivables solutions,
Online Resources provides financial institutions a comprehensive
set of banking, payment and presentment and other flexible online
solutions. Online Resources currently serves 12 of the 13 largest
U.S. retail banks.
About Online Resources
Online Resources (NASDAQ: ORCC) powers financial interactions
between millions of consumers and the company’s financial
institution and biller clients. Backed by its proprietary
payments gateway that links banks directly with billers, the
company provides web and phone-based financial services, electronic
payments and marketing services to drive consumer adoption. Founded
in 1989, Online Resources is the largest financial technology
provider dedicated to the online channel. For more information,
visit www.orcc.com.
This news release contains statements about future events and
expectations, which are "forward-looking statements." Any statement
in this release that is not a statement of historical fact may be
deemed to be a forward-looking statement. Such forward-looking
statements involve known and unknown risks, uncertainties and other
factors which may cause the Company's actual results, performance
or achievements to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements. Specifically factors that might cause
such a difference include, but are not limited to the Company’s:
history of losses; dependence on the marketing efforts of
third parties; potential fluctuations in operating results; ability
to make and successfully integrate acquisitions of new businesses;
potential need for additional capital; potential inability to
prevent systems failures and security breaches; potential inability
to expand services and related products in the event of substantial
increases in demand; competition; ability to attract and retain
skilled personnel; reliance on patents and other intellectual
property; exposure to the early stage of market adoption of the
services it offers; exposure to the consolidation of the banking
and financial services industry; and additional risks and
uncertainties discussed in filings made by the Company with the
Securities and Exchange Commission, including those risks and
uncertainties contained under the heading "Risk Factors" in the
Company's Form 10-K, latest 10-Q, and S-3 as filed with the
Securities and Exchange Commission. These factors should be
considered in evaluating the forward-looking statements, and undue
reliance should not be placed on such statements.
Online Resources Corp. (MM) (NASDAQ:ORCC)
Historical Stock Chart
From Jun 2024 to Jul 2024
Online Resources Corp. (MM) (NASDAQ:ORCC)
Historical Stock Chart
From Jul 2023 to Jul 2024