Source: Online Resources
Online Resources Corporation (Nasdaq:ORCC), a leading provider of web-based financial services, today announced that Fifth Third Bancorp has signed a multi-year referral agreement to make Online Resources' biller-direct payment services available to its commercial treasury management clients. Fifth Third operates 18 affiliates with 1,181 banking centers throughout the Midwest and Florida.
Under the agreement, Fifth Third will offer CollectPay™ to its commercial clients, which include telecommunications, cable, healthcare, utility, receivables management, public funds, and other businesses. The service will complement the Bank's suite of cash management services, by enabling clients to offer their customers multiple electronic payment options, and minimize their payment processing costs.
"We partnered with Online Resources because they understand the importance of offering solutions tailored to our clients' business operations," said Patrick Moore, Senior Vice President and Director of Treasury Product Management at Fifth Third Bancorp. "We pride ourselves on delivering best-of-breed technology to help our business customers meet critical treasury management goals, and Online Resources' payment solutions complement our suite of Treasury Management products and services."
"We are pleased to lend our expertise as a leading biller service provider to Fifth Third Bancorp's commercial clients, with flexible, scalable payment services that help drive efficiency, value and consumer satisfaction," said Robert R. Craig, Executive Vice President and General Manager of Online Resources' eCommerce Services. "We look forward to a successful strategic partnership with Fifth Third that helps their business customers improve collection of bill payments with feature-rich services."
CollectPay is part of Online Resources' eCom Advantage Suite, which provides end-to-end electronic bill presentment, payment and collection solutions that drive online adoption, retention and expansion of biller-direct payments.