First National Bank chose Online Resources' award-winning Virtual Collection AgentTM to provide a fully compliant, 24x7 online customer service and collection environment for its more than 2 million bank cardholders. With this agreement, Online Resources now provides its collections service to half of the top 12 U.S. card issuers, with some clients seeing reductions in credit card charge-offs by 10 percent or more and recovering over $40 million in delinquent debt per month.

First National Bank will have the flexibility to rapidly scale their debt recovery efforts in response to their changing business and market needs, without adding labor costs. For example, by using integrated consumer analytics and a full suite of payment processing capabilities, the Bank will be able to maximize results through real-time adjustments to their collection strategy, such as introducing new payment plan offers.

"As a long-time credit card industry leader, First National Bank understands the considerable value that technology brings to each stage of the cardholder relationship, including the collections stage," said Robert R. Craig, executive vice president and general manager of eCommerce Services for Online Resources. "We are pleased to work with First National Bank to enhance their robust credit card services with our Virtual Collection Agent."

In addition to its industry-leading receivables solutions, Online Resources provides financial institutions a comprehensive set of banking, payment and presentment and other flexible online solutions. Online Resources currently serves 12 of the 13 largest U.S. retail banks.