Online Resources Corporation (NASDAQ: ORCC), a leading provider of financial technology services, today announced that Illinois-based First American Bank ($2.9 billion in assets) selected ORCC’s Architect digital banking solution and bill payment services to augment its robust set of full-service banking services. With 49 Chicago-area branches, First American Bank will use ORCC’s Architect solution to provide its customers a highly intuitive, personalized user experience that adapts to user behavior and preferences. The bank will also be able to offer its customers new advanced functionality for services such as online account opening, personal financial management, one-to-one marketing, and social media integration. With Architect’s extensible platform, First American Bank will have full control of the platform to easily add or develop new features as trends or needs emerge and user adoption increases. “At First American Bank, we pride ourselves on offering outstanding service to achieve long-term relationships with customers,” said Eduardo Monteagudo, executive vice president of First American Bank. “By selecting ORCC, we aim to maintain that commitment and provide our customers with a truly superior digital banking experience to meet their current and future financial needs.” ORCC’s Architect solution integrates seamlessly with its banking bill payment solution, where it has been serving community banks and credit unions as an industry leader for more than 15 years. ORCC has connections to core processors and ATM networks that provide real-time access to more than 90 percent of checking accounts in the United States and to the 9,000+ domestic biller endpoints within ORCC’s Biller Endpoint Network. “First American Bank has a strong reputation for serving the Chicago banking community with personalized care and user-friendly solutions,” said Eric Labiak, chief sales officer for ORCC. “With ORCC’s Architect solution and bill payment services, we are proud to help First American Bank continue its long tradition of offering the most innovative, leading-edge banking solutions to its customers.”
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.