First Command Bank Adds ORCC’s Architect Digital Banking Platform, Extends Bill Pay Services
CHANTILLY, Va.--(BUSINESS WIRE)-- Online Resources Corporation (NASDAQ: ORCC), a leading provider of digital financial services, today announced that First Command Bank ($651 million in banking assets on deposit) has signed a multi-year agreement to implement its Architect SM Digital Banking solution and extend its bill payment service.
Ft. Worth, Texas-based First Command Bank, an affiliate of First Command Financial Services, Inc., is a single-branch bank serving more than 118,000 military professionals and their families across the nation, primarily through online and mobile channels. First Command Bank selected ORCCs Architect solution to offer customers an outstanding digital banking experience, and because it provides the flexibility the bank needs, as it will implement the new solution while also undergoing a core conversion to Jack Henrys Silverlake platform. The flexibility of the solution helps First Command Bank ensure customers will notice little difference to their online banking service while they undergo this major conversion.
Weve worked with ORCC for many years, but during a recent evaluation of our core systems we decided to evaluate all of our systems and technologies to ensure our customers were receiving the best service possible, said David White, president of First Command Bank. After the evaluation, it was clear that ORCC was still the best provider for our needs. Architect offers us the configurability and flexibility we need, especially while we change core systems. We can mimic our current systems look and feel to limit the changes from our customers perspective, maintaining excellent service.
Architect will enable First Command Bank customers to not only have a highly-intuitive, personalized user experience, but one that adapts to user behavior and preferences. First Command Bank will also be able to offer their customers new advanced functionality for services such as online account opening, personal financial management, one-to-one marketing, and social media integration. Architect allows the bank to have full control of the administration, configuration and ongoing maintenance of their service. With its extensible platform, First Command Bank can easily add new and innovative features as trends and technologies emerge and end-user adoption increases.
First Command Banks unique service model calls for a unique online banking platform, said Eric Labiak, chief sales officer for ORCC. While its important for all institutions to have the very best solution, this banks need is especially critical as it relies primarily on its online channels. Truly setting the standard for exceptional online banking, we look forward to continuing our relationship with First Command Bank.
About Online Resources Corporation (ORCC)
Online Resources Corporation powers financial interactions between millions of consumers and the companys 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 a difference, please refer to our latest filings with the Securities and Exchange Commission, including the information under the heading "Risk Factors" in our latest Annual Report on Form 10-K. We assume no obligation to update or supplement any forward-looking statements.
Online Resources, ORCC and the Online Resources logo are trademarks of Online Resources Corp. Other company and product names and logos used in this release are the trademarks of their respective owners.
Online Resources Corporation
Mary York Cox, 678-781-7217
Michael Touchton, 678-781-7215
Source: Online Resources CorporationCopyright Business Wire 2012