First National Bank Selects Online Resources' Web-Based Collections

CHANTILLY, Va. — Online Resources Corporation, 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 Agent(TM)to provide a fully compliant, 24×7 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 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.