Online Resources Corporation (Nasdaq: ORCC), a leading provider of online financial services, today announced that $1.1 billion asset American Heritage Federal Credit Union has signed a multi-year agreement for the Company’s Architect retail banking software solution. Pennsylvania-based American Heritage will convert to Online Resources’ solution in early 2012, providing its more than 110,000 members access to a highly intuitive, personalized online banking experience. At the same time, the advanced banking solution provides the Credit Union access to robust tools and technology that enable a high level of control over the administration and future enhancement of the service. “We chose Online Resources’ Architect solution because it provides the best of both worlds: a superior online experience for our members as well as flexible technology to help us grow our online channel in the future,” said Kevin P. Tressel, vice president of Information Systems for American Heritage Federal Credit Union. “We look forward to working with Online Resources to leverage their powerful software solution for our members.” The Architect software’s adaptive navigation enables American Heritage’s members to tailor the interface to their preferences. In addition, a client toolbox provides the Credit Union full control of the administration, configuration and ongoing maintenance of the service, to further address the needs of different member segments. In addition, the Architect software includes advanced functionality such as online account opening, personal financial management, one-to-one marketing and social media integration. With its extensible platform, the Credit Union can easily add innovative, new features as trends and technologies emerge and end-user adoption increases. “Like other successful credit unions today, American Heritage knows that in order to provide their members a superior online service, the technology must deliver a high level of flexibility and control,” said Eric M. Labiak, chief sales officer for Online Resources. “We look forward to working with American Heritage to adapt and grow its online banking presence as its members’ needs change and adoption increases.”
Shares of Online Resources Corporation (Nasdaq:ORCC) were gapping down Wednesday morning with an open price 30.4% lower than Tuesday's closing price. The stock closed at $6.05 yesterday and opened today's trading at $4.21.