Online Resources Deploys Multi-Factor Authentication
With High Consumer Adoption
CHANTILLY, Va., December 6, 2006 –Online Resources Corp. (NASDAQ: ORCC), a leading provider of Web-based financial services, today announced it has successfully deployed its integrated security solution in advance of the year-end deadline set by the Federal Financial Institutions Examination Council (FFIEC). The deployment brings Online Resources’ Internet Banking and Bill Payment clients in compliance with the FFIEC’s authentication guidelines.
The security solution leverages Online Resources’ unique single platform to bridge and protect both the Internet banking and bill payment applications, and eliminates the need for the company’s full service clients to implement multiple security technologies. Through a partnership with RSA, The Security Division of EMC, the solution includes integrated risk-based authentication, anti-phishing technology and risk management reporting.
Early end-user activity reports show that an impressive 80 percent of eligible users have set up security questions or selected an authentication image on their first session. In addition, there has been virtually no impact on call levels to Online Resources’ customer care.
The high end-user adoption of the security solution is attributed to Online Resources’ relationship management services. Prior to the deployment of the solution, a multi-faceted consumer education campaign was rolled out that included targeted in-session messaging, video tutorials, and other instructional information embedded in the application.
“We are very pleased to complete implementation of this mission-critical service to our financial institution clients ahead of schedule,” said Ronald J. Bergamesca, senior vice president and general manager of Online Resources’ Banking Services. “Through the combination of our unique capabilities, we were able to smoothly integrate a major security enhancement without disruption thereby raising consumer confidence in our client financial institutions.”
Enhancements to the security solution planned for 2007 include customized transaction monitoring, which will be linked to end-user profiles for improved detection of suspicious payment or funds transfer activity.
About Online Resources
Online Resources powers web-based financial services for 2600 financial institutions, billers and credit service providers. Its proprietary suite of account presentation and payment services are branded to its clients, and augmented by marketing services to drive consumer and business end-user adoption. The Company serves over 8 million end-users and processes $100 billion in bill payments annually. Founded in 1989, Online Resources (Nasdaq: ORCC; www.orcc.com) is recognized as one of the nation’s fastest growing companies.
Media Contact: Beth Halloran,
Director, Corporate Communications
703.653.2248
bhalloran@orcc.com
Investor Contact: Catherine Graham,
EVP & Chief Financial Officer
703.653.3155
cgraham@orcc.com
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