CHANTILLY, Va.--(Online Resources Corporation (NASDAQ: ORCC), a leading provider of financial technology services, today announced that Scient Federal Credit Union (formerly Ledge Light Federal Credit Union) successfully implemented ORCC’s Architect TM digital banking solution and bill payment services to enhance its offerings to its 11,000 members nationwide.)--
“As an institution that has built its reputation by providing customized financial services for the pharmaceutical industry for more than 40 years, our dedication is, and has always been, to serve the needs of our members”
Scient (currently $200 million in assets) is the ninth largest credit union in Connecticut and has been delivering financial services customized for the life science industry for over 40 years. Scient selected ORCC’s Architect solution to provide not only a highly intuitive, personalized user experience, but one that also adapts to user behavior and preferences. Architect’s advanced functionality for services such as online account opening, personal financial management, one-to-one marketing, and social media integration will provide its member base a superior digital banking experience within a single, extensible platform. In addition, Scient will have full control in adding or developing new features as trends or needs emerge and user adoption increases.
“As an institution that has built its reputation by providing customized financial services for the pharmaceutical industry for more than 40 years, our dedication is, and has always been, to serve the needs of our members,” said Bruce Fafard of Scient Federal Credit Union. “Architect’s flexibility helps us continue that mission by providing the strong, individualized level of service our existing members have come to rely on, while accelerating the development of our digital banking services.”
ORCC’s Architect solution integrates seamlessly with its banking bill payment solution, where it has been serving community banks and credit unions as an industry leader for more than 15 years. ORCC has connections to core processors and ATM networks that provide real-time access to more than 90 percent of checking accounts in the United States and to the 9,000+ domestic biller endpoints within ORCC’s Biller Endpoint Network.
“Scient Federal Credit Union is known for serving the needs of its growing member base with excellence,” said Eric Labiak, ORCC’s chief sales officer. “Adding to an already highly-personalized experience, ORCC’s Architect and bill payment services will ensure that Scient continues to provide exceptional service. We’re extremely pleased to partner with them to support their growth and ensure competitiveness.”
ORCC’s digital banking and bill payment services enable higher electronic rates, faster payment speed, and a consistent payment process for its clients and their end users.
About Online Resources Corporation
Online Resources Corporation (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, ORCC is the largest financial technology provider dedicated to the online channel. For more information, visit www.orcc.com.
This news release contains forward-looking statements based on Online Resources Corporation management's current expectations and beliefs and a number of assumptions concerning future events made with information that is currently available. The words "will," "would," "may," "should," "estimate," "project," "forecast," "intend," "expect," "believe," "target," "designed," "plan," and similar expressions are intended to identify forward-looking statements. Readers are 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 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: a history of losses and anticipation of future losses; potential fluctuations in operating results; dependence on the marketing efforts of third parties; potential loss of one or more material clients; potential need for additional capital; potential inability to prevent systems failures and security breaches; potential inability to expand certain services and products in the event of a substantial increase in demand for such services and products; competitive pressures; ability or inability to attract and retain skilled personnel; reliance on patents and other intellectual property; potential change in the rate of user adoption of certain products and services; exposure to consolidation in the financial services industry; and government regulatory developments. For a more detailed description of the factors that could cause such differences, readers are advised to review Online Resources Corporation’s latest filings with the Securities and Exchange Commission, including (but not limited to) the information provided under the heading "Risk Factors" in our latest Annual Report on Form 10-K (which filings are available, among other places, from the SEC's EDGAR database at www.sec.gov and via the Company's website at www.ORCC.com). Online Resources assumes no obligation to, and expressly disclaims any obligation to, update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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