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Online Resources and Corillian ink reseller deal

31 July 2006  |  1723 views  |  0 Source: Corillian

Online Resources Corporation (Nasdaq: ORCC) and Corillian Corporation (Nasdaq: CORI), leading providers of online banking and bill payment services, today announced they have entered a new, multi-year reseller agreement to provide financial institutions comprehensive bill payment services.

The agreement is an expansion upon a referral arrangement that exists between Corillian and Princeton eCom, which was acquired by Online Resources on July 3, 2006. Corillian will now also resell Online Resources' bill payment and customer care services, providing its clients an integrated source for online banking and bill payment services.

Corillian software enables online banking to an estimated 30 million consumers through its more than 120 bank and credit union customers. Online Resources provides bill payment and other web-based financial services to over 3800 clients through a variety of direct and distribution partnerships.

"We are excited to build on our long-standing relationship with Princeton eCom as it becomes part of the Online Resources organization," said Alex Hart, president and chief executive officer of Corillian. "This expanded partnership gives us the ability to more tightly integrate our online banking applications with Online Resources' high quality, high touch payments capabilities, bringing a lot of benefits to our clients. Online Resources has a reputation as a trusted alliance partner, and we are pleased to expand our partnership."

"By combining our billpay and customer care strength with Corillian’s distribution and presentment capabilities, we can take our partnership to a new level," stated Matthew P. Lawlor, chairman and chief executive officer of Online Resources. "We look forward to expanding this and other relationships that play to the market and product strengths of each partner, while respecting our competitive position elsewhere."

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