Harland Financial Solutions To Offer Online Resources' Money HQsm
Companies Expand Bill Payment Relationship via ULTRADATA® System
MCLEAN, Va., August 4, 2003
Online Resources Corporation (Nasdaq: ORCC), a leading outsourcer of Internet banking and payment services, today announced that Harland Financial Solutions, Inc., a subsidiary of John H. Harland Company (NYSE: JH), is expanding its bill payment relationship with Online Resources beginning in the third quarter this year. The expansion will enable the companies' mutual credit union clients to take advantage of Money HQSM, Online Resources' state-of-the-art online personal financial management and transaction center.
Harland Financial Solutions will integrate Online Resources' QuotienSM Internet Bill Payment service with the ULTRADATA® System, enabling 89 credit unions to take advantage of Money HQ, which provides account information aggregated from online accounts held at other financial institutions, the capability to transfer funds between those accounts, electronic bill presentment, person-to-person payments and alerts.
The mutual credit union clients, which collectively represent approximately 1.5 million checking accounts and 110,000 bill payment users, currently rely on Online Resources' Remittance services for their online bill payments. In addition to Money HQ, the expansion of the companies' relationship will provide the credit unions Online Resources' enhanced bill payment, high-touch Customer Care call center, advanced consumer marketing and other services.
"Our credit unions will continue to receive Online Resources' high quality bill payment service, with the benefit of value-added services such as electronic bill presentment, eCRM and consumer marketing," said Jim Berthelsen, senior vice president and general manager of Harland Financial Solutions' Credit Union Core Systems Group. "The cutting edge tools available in Money HQ will further our goal to provide our credit unions the technology they need to be the primary provider and custodian of their members' financial needs."
"We value our relationship with Harland Financial Solutions and are excited about the opportunities this expansion presents for their credit union clients," stated Raymond T. Crosier, Online Resources' president and chief operating officer. "Through our value-added services, including Money HQ, we expect to help their credit union clients deepen relationships with their members and increase member services through the Internet channel."
About Online Resources
Online Resources (Nasdaq: ORCC - www.orcc.com) is an outsourcer of Internet banking and payment services to over 500 financial institutions nationwide. In contrast to other providers, Online Resources owns, operates and drives critical banking, payments and marketing infrastructure that enable a superior customer experience and Internet channel success. The company's services, branded to our financial institution clients, power approximately 100 million transactions and $5 billion in consumer bill payments annually. Founded in 1989, Online Resources has been recognized as one of the nation's fastest growing technology companies.
About Harland Financial Solutions
Harland Financial Solutions (http://www.harlandfinancialsolutions.com) supplies software and services to thousands of financial institutions of all sizes. Harland Financial Solutions is a leader in deposit & loan origination, platform, teller, call-center, mortgage, business intelligence, core systems, customer relationship management systems, and compliance training software.
About Harland
Atlanta-based John H. Harland Company (NYSE: JH) (www.harland.net) is listed on the New York Stock Exchange under the symbol "JH." Harland is a leading provider of software and printed products to the financial institution market. Harland's software solutions include, deposit & loan origination, platform, teller, call-center, mortgage, business intelligence, core systems, and customer relationship management systems. Harland's printed products offerings include checks, direct marketing and financial forms. Scantron Corporation (www.scantron.com), a wholly owned subsidiary, is a leading provider of software services and systems for the collection, management and interpretation of data to the financial, commercial and educational markets.
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 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 Form 10-K, latest 10-Q, and S-3 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.
Media Contact: Beth Halloran,
Director, Corporate Communications
703.394.5248
bhalloran@orcc.com
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