Online Resources Corporation (Nasdaq: ORCC), a leading provider of online financial services, today announced that a top global credit card issuer is expanding deployment of the Company’s online collections service to its consumers in Mexico, Colombia, Brazil and Spain. A client since 2006, the issuer has used Online Resources’ award-winning Virtual Collection Agent TM to provide a fully compliant, 24x7 online customer service and collection environment for millions of U.S. consumers of its credit cards, mortgages, auto loans, personal and other loans. Now live in Colombia and Brazil, the issuer also plans to introduce the Virtual Collection Agent in Mexico, Spain and other countries in the coming months. Consumers in the issuer’s global markets can access the multilingual online service to view information about their delinquencies, apply for and enroll in payment plans, or simply make a payment or a promise to pay. As with the U.S. deployment, the issuer will have the flexibility to rapidly scale their debt recovery efforts in response to the changing needs of each of these markets, without adding labor costs. “Technology brings undeniable value to all stages of financial services relationships, especially the collections stage where our clients are recovering millions in delinquent debt every month,” said Stephen W. Ryan, executive vice president of Software Solutions and Services for Online Resources. “We are very pleased to expand the Virtual Collection Agent to serve consumers globally and further improve our client’s recovery efforts.” In addition to its industry-leading receivables solutions, Online Resources provides financial institutions a comprehensive set of banking, payment and presentment and other flexible online solutions. About Online Resources Online 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 news release contains statements about future events and expectations, which are "forward-looking statements." Any statement in this release that is not a statement of historical fact may be deemed to be a forward-looking statement. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Specifically factors that might cause such a difference include, but are not limited to the Company’s: history of losses ; dependence on the marketing efforts of third parties; potential fluctuations in operating results; ability to make and successfully integrate acquisitions of new businesses; potential need for additional capital; potential inability to prevent systems failures and security breaches; potential inability to expand services and related products in the event of substantial increases in demand; competition; ability to attract and retain skilled personnel; reliance on patents and other intellectual property; exposure to the early stage of market adoption of the services it offers; exposure to the consolidation of the banking and financial services industry; and additional risks and uncertainties discussed in filings made by the Company with the Securities and Exchange Commission, including those risks and uncertainties contained under the heading "Risk Factors" in the Company's Form 10-K and latest 10-Q as filed with the Securities and Exchange Commission. These factors should be considered in evaluating the forward-looking statements, and undue reliance should not be placed on such statements.
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.