Online Resources Wins Collection Technology Excellence Award

Online Resources Corp., a leading provider of Internet financial services today announced that Collection Technology News has presented the Company’s Card & Credit Services division with a Collection Technology Excellence Award. The award, which is based on peer nominations and is the only industry award of its kind, was granted to Online Resources for its pioneering self-resolution technology in its web-based collections service.

Available to credit card issuers, collection agencies, holders of consumer loan portfolios and debt buyers, Online Resources Collections provides a fully branded, 24×7 online environment where delinquent account holders can privately apply for and enroll in rules-based payment programs and conduct other activities to help them self-cure their delinquent status.

Results of a pilot conducted in 2005 with a top three U.S. based credit card issuer showed that the collections service enabled an improvement of 310 basis points in reduction of losses, or an annualized savings of $3.1 million for an organization with $50 million in delinquent outstandings.

“We are pleased to be recognized for our commitment to helping collectors improve customer service, significantly reduce operating costs, and to maximize the value of their online channels,” said Bill Kinnelly, president of Online Resources’ Card & Credit Services Division.

“The panacea for collectors is web-based self-resolution, and Online Resources has done more than any other company to make that a reality,” said JJ Hornblass, Collection Technology News executive editor and publisher, who presented the award today at the 2006 Collection Technology Summit. “We are pleased to single out Online Resources for their innovative collections technology solution.”