Provident Credit Union to Convert to Online Resources’ Full Suite

CHANTILLY, Va.--(BUSINESS WIRE)--Online Resources Corporation (Nasdaq:ORCC), a leading provider of web-based financial services, today announced that Provident Credit Union has signed a new multi-year agreement for Online Resources’ retail and business banking, payment and other services. Provident, one the nation’s largest credit unions with approximately 100,000 members, is expected to convert to Online Resources’ platform in mid-2008.

“Provident understands that highly integrated online services can provide extensive benefits to their consumer and commercial business members that are simply not possible through disparate services”

Provident has chosen Online Resources’ full suite of retail services including internet banking, integrated bill payment, ACH, account opening, online lending, and the personal financial management service, Money HQ^SM. Provident will deploy Architect, the company’s premium internet banking solution, which is dedicated software operated by the credit union on its premises. This solution enables Provident to perform extensive customization through a set of advanced developer and administrative tools, allowing them to leverage their in-house IT resources and expertise.

Provident has also chosen Online Resources’ business banking solution to offer to its more than 1200 member employer groups and other business members. This feature-rich solution will allow Provident to create a tailored and secure online banking experience for each business user through complex hierarchical entitlements, security workflow procedures and transaction limits. Other features include ACH processing, bill payment, check imaging, e-statements, risk-based and reverse authentication and remote deposit capture.

“With its scale, flexibility and focus, Online Resources’ full spectrum of solutions meet our wide-ranging needs and provide us with a high degree of control and flexibility,” said Connie Finch, Vice President Information Technology for Provident Credit Union. “We look forward to working with them as the single point of accountability for our Internet channel.”

“Provident understands that highly integrated online services can provide extensive benefits to their consumer and commercial business members that are simply not possible through disparate services,” said Ronald J. Bergamesca, executive vice president and general manager of Online Resources’ Community Bank and Credit Union Services. “Provident’s members will receive a superior online experience, richer security, continual innovation and other advantages of an end-to-end solution.”

About Online Resources

Online Resources powers web-based financial 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 more than 12 million end-users and processes $110 billion in bill payments annually. Founded in 1989, Online Resources (Nasdaq:ORCC; www.orcc.com) is recognized as one of the nation’s fastest growing companies.

About Provident Credit Union

Currently the 67th largest credit union in the U.S. with more than $1.5 billion in assets, Provident Credit Union was established in 1950 Headquartered in the San Francisco Bay Area, Provident Credit Union now serves approximately 100,000 members from over 1200 employer groups and maintains branches throughout California, and nationwide. For more information about Provident membership, products and services, visit www.providentcu.org.

This news release contains statements about future events and expectations, which are "forward-looking statements." Any statement in this release that is not a statement of historical fact may be deemed to be a forward-looking statement. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Specifically factors that might cause such a difference include, but are not limited to: the company's history of losses and anticipation of future losses; the company's dependence on the marketing efforts of third parties; the potential fluctuations in the company's operating results; the company's potential need for additional capital; the company's potential inability to expand the company's services and related products in the event of substantial increases in demand for these services and related products; the company's competition; the company's ability to attract and retain skilled personnel; the company's reliance on the company's patents and other intellectual property; the early stage of market adoption of the services it offers; consolidation of the banking and financial services industry; and those risks and uncertainties discussed in filings made by the company with the Securities and Exchange Commission, including those risks and uncertainties contained under the heading "Risk Factors" in the company's Form 10-K, latest 10-Q, and S-3 as filed with the Securities and Exchange Commission. These factors should be considered in evaluating the forward-looking statements, and undue reliance should not be placed on such statements.