Kinecta Federal Credit Union Converts to Online Resources for Bill Payment

CHANTILLY, Va.--(BUSINESS WIRE)--Online Resources Corporation (Nasdaq:ORCC), a leading provider of Web-based financial services, today announced that Kinecta Federal Credit Union has signed a multi-year agreement for electronic bill payment and other online services. Kinecta, based in Southern California, is the 13th largest credit union in the country, with over $4 billion in assets and more than 200,000 members.

“Online Resources’ solution enables us to maintain our user Interface, ensuring a seamless integration without members having to learn a new bill pay system. Online Resources’ product snapped in quite easily.”

Under the agreement, Kinecta migrated all of its in-house bill payment processing to Online Resources’ PayAnyone^® service in August. In addition, the credit union has deployed the company’s online account opening, ACH processing and e-Statement services. Kinecta utilizes the Episys® core processing platform offered by Symitar™. As a member of Symitar’s Vendor Integration Program, Online Resources was able to facilitate a seamless, expedited implementation.

“We recognized that outsourcing our payment processing to a best-of-breed provider was the only option to achieve industry leading electronic rates and deliver an exceptional member experience,” said Shannon Doiron, director of E-Commerce at Kinecta Federal Credit Union. “We have outstanding early results, having increased our electronic rate by over 18 percent immediately following our conversion.”

“Additionally,” notes Doiron, who led the design and development of Kinecta’s proprietary online banking system, “Online Resources’ solution enables us to maintain our user Interface, ensuring a seamless integration without members having to learn a new bill pay system. Online Resources’ product snapped in quite easily.”

Stephanie Chaufournier, Online Resources’ executive vice president and general manager for Banking Payment Services, agrees. “Bill payment processing is a complex business that requires unique capabilities to achieve best in class performance. Our Biller Network and Real-Time Digital Scanline™ technologies make it possible for us to offer our clients the highest electronic and lowest claims rates in the industry. We are committed to helping our clients enrich their Internet channel with best-of-breed payment services that keep them competitive.”

About Online Resources

Online Resources powers financial technology services for thousands of financial institutions, billers and credit service providers. Its proprietary suite of account presentation and payment services are branded to its clients, and augmented by marketing services to drive consumer and business end-user adoption. The Company serves over 10 million end-users and processes $100 billion in bill payments annually. Founded in 1989, Online Resources (www.orcc.com) is recognized as one of the nation’s fastest growing companies.

About Kinecta Federal Credit Union

Kinecta Federal Credit Union is one of the nation’s leading credit unions and 4th largest in California. Headquartered in Manhattan Beach, Calif., Kinecta has more than $4 billion in assets and serves more than 200,000 members nationwide. Kinecta offers its member-owners a broad range of financial products and services through the Credit Union and its wholly owned subsidiaries Kinecta Financial Management Company, LLC, Kinecta Financial & Insurance Services, LLC and Apollo Agencies, Inc. www.kinecta.org.

About Symitar

Symitar, a division of Jack Henry & Associates, Inc., (Nasdaq: JKHY), is the leading provider of integrated computer systems for credit unions of all sizes. Symitar currently serves more than 600 credit unions as a single source for integrated, enterprise-wide automation; and as a single point of contact and support. Additional information is available at www.symitar.com.

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