New York Community Bank signs for Online Resources Web banking platform
Online Resources Corp. (Nasdaq: ORCC), a leading outsourcer of Internet financial services, today announced that New York Community Bank, the primary subsidiary of New York Community Bancorp, Inc. (NYSE: NYB) and the fourth largest thrift in the nation, has signed a five year agreement for the company's suite of web-based account presentation, payments and relationship management services.
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Beginning in July 2005, New York Community Bank will introduce customers to its new Internet banking site, NYCBDIRECT, via Online Resources' integrated platform. The bank's existing Internet banking users will be converted to the new platform beginning in August 2005.
Online Resources' comprehensive suite of services will enable New York Community Bank to aggressively grow its online banking and bill pay relationships. These services, which are branded to New York Community Bank, include retail and small business Internet banking, bill payment, cash management, web design and other financial self-service capabilities. The bank will also make available to its customers additional services, including online check imaging, e-statements and account aggregation through Money HQ.
Online Resources will also integrate its unique ICM relationship management services into New York Community Bank's call center and marketing programs. ICM combines consumer marketing, CRM technology and access to multiple consumer touch points, in order to drive consumer adoption and Internet channel profitability for Online Resources' clients.
"We chose Online Resources based on its track record of providing both high consumer adoption and exceptional service quality," said Barbara Ann Tosi-Renna, 1st senior vice president of New York Community Bank. "With tight integration of online banking, bill payment and other services, all backed by robust marketing and customer service, we believe we can significantly raise the value of our Internet channel."
"Our primary goal is to increase New York Community Bank's consumer adoption rate," stated Raymond T. Crosier, Online Resources' president and chief operating officer. "We will be particularly focused on raising the bank's bill pay adoption rate, where we lead the industry in achieving a more than 30 percent upsell of billpay services to our online banking users."