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| Online Resources Partners With MyWay.com to Develop Personalized Financial Sites |
Institutionally-Branded Pages Combine Personal Account Links with Broad Range of Customizable Information
MCLEAN, Va., Oct. 20 /BUSINESS WIRE/
Online Resources & Communications Corporation (Nasdaq: ORCC), a leading provider of Internet banking services, today announced an alliance with MyWay.com, one of the industry's most personalized online services. The alliance will enable banks, thrifts and credit unions to offer to their customers and members personalized, custom-branded Web start pages. The pages will have direct, secure links to customers' financial account information and online banking services provided by Online Resources as well as a broad range of easy-to-personalize content from MyWay.com, including news, stock quotes, sports and entertainment services. MyWay.com will also provide users with deep local content on the Web.
The custom start pages, or portals, will be branded by the institution and will give consumers immediate, one-click access to online banking and other financial services every time they log onto the Internet.
"As e-commerce grows, consumers will increasingly want convenient access to their financial information," said Ron Bergamesca, senior vice president for marketing at Online Resources. "This is one of many alliances we're pursuing to deliver more services that are wanted by customers loyal to their financial institution.
"Such services position financial institutions to play a prominent role in the burgeoning e-commerce industry - all at no cost to consumers. It's a new 'click-and-mortar' banking world where branches and Web pages are complementary real estate. Consumers get easy access to financial information within one click, and financial institutions get a visit from their customers every time they sign on to the Internet," Bergamesca said.
"ORCC clearly realizes the value of serving customers over the Internet," said David Luff, vice president of enterprise solutions for MyWay.com, "and we are pleased such a forward-thinking company selected us as their custom portal partner. Together, we promise to enable financial organizations to maximize their online presence by conducting business over the industry's most customized and localized Web portals."
MyWay.com is a next generation personalized portal for consumers and a custom built portal solutions provider for enterprise, ISP and affinity group partners. Formerly Planet Direct, the Andover-based company's portals and custom portal solutions enable partners to acquire new customers by extending their brand and reach on the Web, and retain customers by providing users with an intuitive, efficient means to stay informed, explore interests, organize, contact others, and search the Internet. MyWay.com's million-plus registered users reach the site directly or through one of its more than 800 distribution affiliates. To learn more about MyWay.com or to experience the Web your way, visit http://www.myway.com.
Online Resources & Communications Corporation ( http://www.orcc.com ) is a leading outsourcer of privately-branded Internet financial services for regional and community banking institutions. The McLean, Virginia-based company has more than 400 institutional clients nationwide. The company provides consumer billpaying and banking services, and aggregates lending, insurance, securities trading and investment services. Online Resources performs real-time processing through its patented EFT gateway and full customer service for client institutions, giving them a comprehensive "hub" solution from a single vendor. Client consumer marketing programs are conducted under the bankonline.com co-brand.
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. Specific factors that might cause such a difference include, but are not limited to: the company's history of losses and anticipation of future losses; the company's dependence on the marketing efforts of third parties; the potential fluctuations in the company's operating results; the company's potential need for additional capital; the company's potential inability to expand the company's services and related products in the event of substantial increases in demand for these services and related products; the company's competition; the company's ability to attract and retain skilled personnel; the company's reliance on the company's patents and other intellectual property; the early stage of market adoption of the services it offers; consolidation of the banking and financial services industry; and those 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 Registration Statement on Form S-1 as filed with the Securities and Exchange Commission.
| Online Resources Contact: Robert Griendling, 703/978-4686, bob@griendling.com |