Online Resources reports KleinBank deal

Source: Online Resources

Online Resources Corporation (Nasdaq: ORCC), a leading provider of web-based financial services, today announced that its Community Bank & Credit Union Services unit has entered into a multi-year agreement with KleinBank for its full suite of retail and business banking services.

With assets of $1.5 billion, KleinBank is the largest family-owned state banking company in Minnesota. The bank expanded its previous billpay relationship with Online Resources to include both retail and business account presentation, and a host of other services that provide a single, integrated web channel solution.

KleinBank chose a dedicated software version of Online Resources' Internet banking that is highly customizable and seamlessly integrated with other advanced online financial service features, including online account opening, mobile banking, consumer marketing and integrated call center services. Business services include hierarchical access entitlements, security workflow procedures, transaction limits, ACH processing, check imaging and e-statements.

"Online Resources provides us with a single, reliable point of accountability for all our web channel technology, operating and marketing needs," said Bob Amundson, chief information officer for KleinBank. "By leveraging on Online Resources' operating scale and infrastructure, we achieve attractive economies and a high quality of service. At the same time, the ability to customize the service gives us a high degree of flexibility and control."

"We look forward to becoming KleinBank's primary web channel provider for both retail and business services," said Ronald J. Bergamesca, executive vice president and general manager of Online Resources' Community Bank & Credit Union Services. "KleinBank's decision to broaden their relationship beyond billpay speaks to the power of our fully integrated solution."

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