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Company Expands Bill Payment Leadership in Insurance Market
CHANTILLY, Va.--(BUSINESS WIRE)--
Online Resources Corporation (Nasdaq: ORCC), a leading provider of
online financial services, today announced that Indiana Farm Bureau
Insurance, the largest farm insurance provider and the second largest
personal insurance provider in Indiana, has signed a multi-year
agreement for the company's bill payment solutions. This agreement marks
the 15th that Online Resources has signed with insurance
firms in the past year for new, additional or extended billing and
payment services.
In early 2012, Indiana Farm Bureau Insurance will implement Online
Resources' Payment Advantage solution, which will enable payments
through the Web, live agent and IVR. The Bureau's more than 765,000
auto, home, life, business and farm insurance policyholders will have
the option to use any of these channels to make ACH, credit- and
debit-card payments. The Bureau's staff will be able to access
real-time, on-demand reporting and tracking through Online Resources'
Web-based Client Console payment management tool.
"Indiana Farm Bureau Insurance selected Online Resources based on its
experience serving the complex needs of insurance carriers, its flexible
project approach, and the demonstrated ease of use of their payment
services," said Cyndi Hendricks, Executive Director, Accounting &
Operations Support for Indiana Farm Bureau Insurance. "We look forward
to providing our customers an easier, more efficient way to remit
payment to Indiana Farm Bureau Insurance."
"Indiana Farm Bureau Insurance views the online channel as another way
to provide their customers top-notch service," said Eric M. Labiak,
chief sales officer for Online Resources. "We are very pleased to help
the Bureau offer a breadth of payment options to their policyholders
that are easy to administer internally and that can help them manage
processing costs."
Payment Advantage is part of Online Resources' eCom Advantage suite of
solutions, which provides end-to-end electronic bill presentment,
payment and collection solutions that drive consumer satisfaction,
retention and cost savings.
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 press release provided by Online Resources Corporation (as well
as other written and oral statements made by the company from time to
time) contains forward-looking statements which are based on our
management's current expectations and beliefs, and on a number of
assumptions concerning future events which have been made with only
information that is currently available. The words "will," "would,"
"could," "may," "should," "estimate," "project," "forecast," "intend,"
"expect," "believe," "target," "designed," "plan," and similar
expressions are intended to identify forward-looking statements. Readers
are strongly cautioned not to place undue reliance on such
forward-looking statements, which are not a guarantee of any results or
performance and are subject to a number of known and unknown risks,
uncertainties and other factors (including those which are outside of
Online Resources' control) which could cause actual performance or
results to differ materially and adversely from any results or
performance expressed or implied by such forward-looking statements.
Certain factors that might cause such a difference include, but are not
limited to: our history of losses and anticipation of future losses;
potential fluctuations in our operating results; our dependence on the
marketing efforts and technology of third parties; the potential loss of
one or more material clients; our potential need for additional capital;
our potential inability to prevent systems failures and security
breaches; our potential inability to expand our services and related
products in the event of a substantial increase in demand for such
services and products; competition in our markets; our ability to
attract and retain skilled personnel; our reliance on patents and other
intellectual property; potential change in the rate of user adoption of
the products and services we offer; our exposure to continued
consolidation in the financial services industry; and government
regulations affecting our business and client base. For a more detailed
description of the factors that could cause such a difference in our
results, please refer to Online Resources' filings with the Securities
and Exchange Commission, including (but not limited to) our Annual
Report on Form 10-K filed with the SEC on March 15, 2011 and the
information under the heading "Risk Factors" contained in our Quarterly
Report on Form 10-Q filed with the SEC on August 4, 2011. Online
Resources Corporation assumes no obligation to update or supplement any
such forward-looking statements.
Online Resources
Beth Halloran
Sr. Dir., Corporate
Communications
703-653-2248
bhalloran@orcc.com
Source: Online Resources Corporation
News Provided by Acquire Media
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