Corillian Corp. (NASDAQ: CORI), the top provider of online banking, online payments and anti-fraud solutions to the financial services industry, today announced that Oregon Community Credit Union and Utah Community Credit Union (UCCU) selected Corillian as their partner to deliver next-generation online banking services and provide stronger online authentication to comply with the new FFIEC guidelines.
Both credit unions will leverage Corillian Consumer Banking and Corillian's Intelligent Authentication to provide enhanced online banking and security services to their members.
Oregon Community CU wanted to provide new and innovative online banking and security services to its more than 90,000 members, while still maintaining the ability to seamlessly integrate to its existing systems and leverage its internal staff to customize the solution to fit its members' needs. Corillian Consumer Banking incorporates hundreds of online banking best practices from Corillian's years of online banking expertise, as well as from industry-leading research firms, to provide Oregon Community members with the best online services in an easy-to-use online experience.
"Corillian's solutions are superior in that they will allow us to customize our member's online experience according to their needs, preferences and personality," said Laura Illig, director of marketing for Oregon Community Credit Union. "We are excited about the opportunity to provide our members with a tailored online banking service that will help them manage their financial lives."
Utah Community Credit Union (UCCU) was looking for a partner to help take its online banking services to the next level to more effectively and securely serve its more than 85,000 members via the online channel. In addition to the online banking and security best practices in Corillian Consumer Banking and Intelligent Authentication, UCCU will leverage Corillian Payments to drive efficiencies in its bill payment operations and provide its members with an enhanced online payment experience.
"With Corillian as a partner, we can assure our members that we have the best online banking system available and our security capabilities are at the forefront of the industry addressing both current and future issues," said Ken Gibby, chief information officer for Utah Community Credit Union. "Corillian has demonstrated its ability to be the innovative industry leader for credit unions and we are excited to work with Corillian to expand our online offering, continuing our commitment to deliver industry-leading online financial services to our growing member base."
The signing of Oregon Community Credit Union and UCCU as new customers reinforces the strong adoption of Corillian's online banking and security solutions within the credit union market. Corillian has experienced tremendous growth in its credit union customer base and expertise over the past 18 months. In 2005, Corillian acquired qbt Systems, adding 15 new credit union customers, including three of the top 10, to Corillian's already strong list of top credit unions, as well as key integration expertise and customer relationships with many of the leading core processors. Also, many credit unions have seen the value of the best practices available in Corillian's online banking and security solutions and have chosen to partner with Corillian to deliver next-generation online services to their members. All of this success has lead to more than two million credit union members now banking online with Corillian software and Corillian has grown its credit union customer base to more than 40 percent of its total business.
"Our new partnerships with Oregon Community Credit Union and Utah Community Credit Union further demonstrate our commitment to providing leading online financial services to credit unions of all sizes," said Alex Hart, president and CEO of Corillian Corporation. "The Corillian applications that Oregon Community Credit Union and Utah Community Credit Union selected will allow them to substantially improve their online offerings by delivering innovative and secure online solutions that can be tailored to meet the growing needs of their member base."