Online Resources Corporation (Nasdaq: ORCC), a leading provider of online financial services, today announced that Indiana Farm Bureau Insurance, the largest farm insurance provider and the second largest personal insurance provider in Indiana, has signed a multi-year agreement for the company’s bill payment solutions. This agreement marks the 15 th that Online Resources has signed with insurance firms in the past year for new, additional or extended billing and payment services. In early 2012, Indiana Farm Bureau Insurance will implement Online Resources’ Payment Advantage solution, which will enable payments through the Web, live agent and IVR. The Bureau’s more than 765,000 auto, home, life, business and farm insurance policyholders will have the option to use any of these channels to make ACH, credit- and debit-card payments. The Bureau’s staff will be able to access real-time, on-demand reporting and tracking through Online Resources’ Web-based Client Console payment management tool. “Indiana Farm Bureau Insurance selected Online Resources based on its experience serving the complex needs of insurance carriers, its flexible project approach, and the demonstrated ease of use of their payment services,” said Cyndi Hendricks, Executive Director, Accounting & Operations Support for Indiana Farm Bureau Insurance. “We look forward to providing our customers an easier, more efficient way to remit payment to Indiana Farm Bureau Insurance.” “Indiana Farm Bureau Insurance views the online channel as another way to provide their customers top-notch service,” said Eric M. Labiak, chief sales officer for Online Resources. “We are very pleased to help the Bureau offer a breadth of payment options to their policyholders that are easy to administer internally and that can help them manage processing costs.” Payment Advantage is part of Online Resources’ eCom Advantage suite of solutions, which provides end-to-end electronic bill presentment, payment and collection solutions that drive consumer satisfaction, retention and cost savings.
About Online ResourcesOnline Resources (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, Online Resources is the largest financial technology provider dedicated to the online channel. For more information, visit www.orcc.com. This press release provided by Online Resources Corporation (as well as other written and oral statements made by the company from time to time) contains forward-looking statements which are based on our management's current expectations and beliefs, and on a number of assumptions concerning future events which have been made with only information that is currently available. The words "will," "would," “could,” "may," "should," "estimate," "project," "forecast," "intend," "expect," "believe," "target," "designed," "plan," and similar expressions are intended to identify forward-looking statements. Readers are strongly 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 (including those which are outside of Online Resources’ control) 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: our history of losses and anticipation of future losses; potential fluctuations in our operating results; our dependence on the marketing efforts and technology of third parties; the potential loss of one or more material clients; our potential need for additional capital; our potential inability to prevent systems failures and security breaches; our potential inability to expand our services and related products in the event of a substantial increase in demand for such services and products; competition in our markets; our ability to attract and retain skilled personnel; our reliance on patents and other intellectual property; potential change in the rate of user adoption of the products and services we offer; our exposure to continued consolidation in the financial services industry; and government regulations affecting our business and client base. For a more detailed description of the factors that could cause such a difference in our results, please refer to Online Resources’ filings with the Securities and Exchange Commission, including (but not limited to) our Annual Report on Form 10-K filed with the SEC on March 15, 2011 and the information under the heading "Risk Factors" contained in our Quarterly Report on Form 10-Q filed with the SEC on August 4, 2011. Online Resources Corporation assumes no obligation to update or supplement any such forward-looking statements.