ORCC Announces Virtual Collection Agent 5.0 Service to Automate Lenders’ and Billers’ Debt Collection Process

Online Resources Corporation (NASDAQ: ORCC), a leading provider of financial technology services, today announced the launch of Virtual Collection Agent (VCA) 5.0, the latest version of its web-based debt collections tool for financial institutions and billers of all types.

“VCA provides an online emulation of the live agent interactions that many indebted consumers would have had over the phone in the past,” explained Janie West, ORCC chief marketing officer. “It enables consumers to arrive at a payment resolution in a private, non-confrontational environment via the Internet. VCA gives consumers the full service experience they expect, but it’s all handled using intelligent automation to determine each person’s eligibility for payment plans and tailoring of payments to that consumer’s specific situation to resolve the overdue status if payment in full cannot be made immediately.”

The 5.0 version provides a host of new features that benefits lenders and billers as well as the consumers they serve. VCA’s 24x7 collections environment helps companies to reduce operating costs, maximize collections, and reduce loan losses for overdue auto loans, mortgages, credit card bills, and other personal debt. At the same time, it gives consumers a better way to restore their good account standing and eliminate the hassle of debt collection. They can be offered payment programs and settlement arrangements online based on each biller’s own eligibility rules, which can be based on existing account data or on information supplied in real-time by consumers.

New features of VCA 5.0 for lenders and billers include:

• Access to detailed consumer behavior data and new, intuitive tools to control automation of online offers;
• The ability to handle multi-account relationships with each consumer so that a single sign-on will take customers to any of their accounts that need resolution;
• Support for promotional codes that enable tracking of marketing campaigns and previous interactions with call center agents to arrive at repayment offers specific to each consumer;
• Consumer experience in virtually any language; once consumers sign on to the site and specify their preferred language, each subsequent visit is automatically set to use that language; and
• Addresses Americans with Disabilities Act (ADA) accessibility concerns with the option to certify as WCAG 2.0 Level AA compliant.

VCA is currently collecting at a rate of $2.4 billion per year, and West points out the additional benefits to billers and lenders.

“When a $300 payment prevents a lender from charging off a $5,000 balance, that has a direct impact on an organization’s bottom line. Through champion/challenger studies, we’ve measured VCA’s average reduction in loan losses at 10 percent annually. We expect future results will identify even greater value in returning customers’ accounts to good standing – and profitability,” said West. “Organizations seeking to improve their collections would be well-served to augment their legacy methods with a tool geared toward the preferences and behaviors of today’s consumers whose primary need is to resolve the situation without embarrassment or having their schedule interrupted. Consumers simply do not want to be contacted by a live agent. With the Virtual Collection Agent 5.0, billers can collect more, for less, while restoring good, profitable relationships with their customers.”

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.

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.