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Online Resources launches mobile banking and bill payment service, a hosted application for financial institutions

January 3, 2007

2 Min Read

CHANTILLY, Va. -- Online Resources Corp. (NASDAQ:ORCC), a leading provider of Web-based financial services, today announced the launch of its mobile banking and bill payment service, a hosted application that enables financial institutions to provide their consumers with a full range of online services via mobile phones and other wireless devices.

Available through a partnership with Access Softek, Inc., a global developer of technology software, the mobile banking and payment service is an OFX-based software application that works with all major U.S. wireless networks. The service provides immediate access to approximately 70 percent of today’s mobile phone devices, with near-ubiquitous access expected in the next several years as consumer mobile devices are upgraded. The service is fully integrated with Online Resources payments and security technology, providing consumers the ability to view their accounts, pay bills, transfer funds and receive messages from their financial institutions.

In pilot with select financial institution clients since July 2006, the service is now available to Online Resources’ OFX-enabled clients. Each client launch of the mobile service is supported with the company’s ICM Marketing services, including targeted in-session messaging, demos and other instructional information embedded in the application. After registering online, consumers simply download the software application via their wireless device.

“The integrated mobile service is yet another way Online Resources is helping us to retain and deepen our customer relationships. In addition to potential fee income, we are pleased to be able to offer our customers a service that even some of the largest institutions are not providing today,” said Michael L. Woolfolk, chief operating officer and executive vice president for Heritage Bank, a pilot participant.

"Consumer delivery of the Web channel has become more complicated with increased security requirements and growing demand for wireless access. By leveraging our integration capabilities, we are providing our clients a mobile banking and payment application that is secure, seamless and highly user-friendly,” stated Matthew P. Lawlor, Online Resources’ chairman and chief executive officer. “We believe that by widening distribution of the Web channel via mobile devices, our clients can increase adoption of their channels and in many cases benefit from offering another premium service.”

Online Resources Corp. (NASDAQ: ORCC)

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