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Tinker Federal Credit Union Selects Online Resources Account Opening & Lending Tools
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CHANTILLY, Va., May 11, 2009 (BUSINESS WIRE) -- Online Resources Corporation (Nasdaq: ORCC), a leading provider of online financial services, today announced that $1.8 billion asset Tinker Federal Credit Union has signed a multi-year agreement for account opening and lending services. Tinker Federal Credit Union is the largest credit union in Oklahoma, serving more than 200,000 members including military personnel assigned to Tinker Air Force Base. Tinker Federal is converting to Online Resources' Account Opening and Lending services to enable existing and prospective members to conveniently apply for new accounts and loans online. Both services streamline processes customized to the Credit Union's terms, including credit and identity verification, and can render instant approval decisions and automated funding. Seamless integration with the Credit Union's core processor eliminates re-keying of data, reducing errors, ensuring consistency and increasing completion rates. Further, these tools introduce a host of up-selling and cross-selling opportunities. "We chose Online Resources' account opening and lending services because they offer the high level of customization and configurability that we require to provide our members a superb online experience," said Grant Woldum, executive vice president and chief information officer for Tinker Federal Credit Union. "Online Resources' solutions reflect their extensive integration experience and a deep appreciation for providing outstanding member support." "Tinker Federal Credit Union understands that online account opening and lending are critical components to any new member acquisition strategy, particularly in today's economic environment," said Ronald J. Bergamesca, Online Resources' executive vice president and general manager for Community Bank and Credit Union Services. "With 20 years of experience providing financial institutions with innovative online services, we look forward to helping Tinker expand membership through their Internet channel." Account Opening and Lending can be implemented as a standalone, best-in-class product for any size financial institution, or as part of Online Resources' Unite Financial Services Suite of comprehensive retail, business and marketing services designed specifically for community banks and credit unions. 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 has been recognized for its high growth and product innovation. It is the largest financial technology provider dedicated to the online channel. For more information, visit www.orcc.com. About Tinker Federal Credit Union Tinker Federal Credit Union (TFCU), established in 1946, is the largest credit union in Oklahoma with more than 200,000 members and $1.8 billion in assets. It serves Tinker Air Force base and has grown to serve the private and commercial sector as well, including more than 400 area companies. For more information, visit www.tinkerfcu.org. 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. SOURCE: Online Resources Corporation Online Resources Corporation Copyright Business Wire 2009 |