Resurgent Capital signs for Online Resources Virtual Collection Agent

Source: Online Resources

Online Resources Corporation (Nasdaq: ORCC), a leading provider of Web-based financial services, today announced that Resurgent Capital Services, L.P. ("Resurgent") has signed a multi-year agreement for its integrated suite of online collections and payment processing services.

Resurgent Capital is one of the largest managers of domestic and international consumer debt in the U.S.

Pursuant to the agreement, Resurgent will utilize Online Resources' award-winning Virtual Collection Agent, a full service 24x7 online customer service and collection environment. The service will also be integrated with Online Resources' Collect Pay, which provides account holders with multiple payment choices and will streamline Resurgent's payment processing. The Company's unique end-toend solution, which includes Web, IVR and agent products, enables debt buyers, servicers and creditors across multiple industries to improve the collectibility of outstanding debt while enhancing the debtor experience.

"Web-based collections and the use of intelligent decisioning methodologies are key to serving our increasingly diverse consumer debt portfolios more efficiently and cost effectively," said Scott Kester, executive vice president of finance and treasurer at Resurgent. "We are partnering with Online Resources in order to provide our customers with additional channels to either make payments or obtain information regarding their accounts."

"The online channel is proving to be a powerful venue for accounts receivable management firms," said Robert R. Craig, executive vice president and general manager of Online Resources' eCommerce Services. "First-party collectors get a supportive brand experience for debtors, and firms such as Resurgent ensure regulatory compliance at a fraction of the cost of an agent. Everyone collects more, at a lower cost."

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