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San Antonio Federal CU signs for Online Resources account opening service

15 May 2008  |  1565 views  |  0 Source: Online Resources Corporation

Online Resources Corporation (Nasdaq: ORCC), a leading provider of web-based financial services, today announced that San Antonio Federal Credit Union (SACU) signed a multi-year agreement for Online Account Opening with its Community Bank & Credit Union Services unit.

SACU is one of the top 40 U.S. credit unions, with more than $2.5 billion in assets.

The Online Resources' account opening service is an end-to-end solution that enables new members to enroll quickly and conveniently through the web. SACU chose the service because it provides another tool for acquiring new members and cross-selling services to existing members, while at the same time saving valuable processing time and costs.

The account opening service performs instant identity verification via connections to multiple credit reporting agencies, OFAC and other third parties. Real-time host system integration eliminates redundant data entry and paperwork by staff members. In addition, the service's decisioning rules engine drives intelligent cross-sales. All approved accounts can be funded online.

"We chose Online Resources' hosted account opening service because of its seamless integration. Their service will provide new members the best online experience possible, from the moment a new member enrolls to the moment their account is funded," said Sharon Spring, senior vice president of Sales & Service Division for SACU. "In addition, with the advanced administrative management, cross-selling module and reporting components, Online Resources has made this service just as easy for our staff to administer."

"SACU understands that in today's economic environment, it is crucial to utilize the web channel for sales," said Ronald J. Bergamesca, Online Resources' executive vice president and general manager, Community Bank and Credit Union Services. "Online account opening is swiftly becoming a mission critical component to any online offering."

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