Online Resources Reseller Network Grows to 35 Companies.MCLEAN, Va.--(BUSINESS WIRE)--Aug. 10, 1999-- Services Center Corp., Wisconsin Bankers and Allfirst Latest to Sign On Online Resources & Communications Corporation (Nasdaq: ORCC ORCC Ohio Regional Campus Conference ORCC Outwardly Rectifying Chloride Channel ORCC Ottawa Regional Cancer Center ORCC Old Roman Catholic Church ORCC Online Resources & Communications Corporation (now named Online Resources Corporation) ), a leading provider of Internet banking services, today announced the signing of the Michigan-based ATM network Services Center Corp., the for-profit arm (FIPCO FIPCO Fully Integrated Pharmaceutical Company ) of the Wisconsin Bankers Association, and the correspondent division of Allfirst Bank as resellers. The signings bring to 35 the number of Online Resources' resellers that complement the company's in-house sales force and provide value-added services A value-added service (VAS) is a telecommunications industry term for non-core services or, in short, all services beyond standard voice calls and fax transmissions. through the company's Financial Hub. The Financial Hub uses proprietary middleware Software that functions as a conversion or translation layer. It is also a consolidator and integrator. Custom-programmed middleware solutions have been developed for decades to enable one application to communicate with another that either runs on a different platform or comes from a and ORCC's integration capabilities to combine funds transfer, consumer access, customer support, account information and third party services. Services Center Corp. is one of the ATM networks that are reselling Online Resources' services. These networks are key ORCC partners because they have the real-time transaction processing systems A Transaction Processing System (TPS) is a type of information system. TPSs collect, store, modify, and retrieve the transactions of an organization. A transaction is an event that generates or modifies data that is eventually stored in an information system. and trusted relationships with many current and potential ORCC institutional customers. Other ATM networks that resell re·sell tr.v. re·sold , re·sell·ing, re·sells 1. To sell again. 2. To sell (a product or service) to the public or to an end user, especially as an authorized dealer. Online Resources services include Honor Services, Inc., Magic Line ATM Network, Concord (the MAC ATM Network), Affiliated Computer Systems, First Interstate-Billings and Advantage Network. FIPCO is one of eight organizations that endorse and resell ORCC services. Others include America's Community Bankers and the state organizations of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of and Maryland. Allfirst's correspondent division sells excess technological capacity on its systems as well as services of other companies such as Online Resources. Online Resources also sells its services through EFT eft: see newt. (Electronic Funds Transfer) The transfer of money from one account to another by computer. See ACH. EFT - electronic funds transfer processors, core processors and financial software developers. "We are fortunate to have such a fine roster of resellers who endorse our approach and our products," said Managing Director of Alternative Delivery Harvey Abelson. "They share our vision and have the practical experience in real-time transactions that adds value to our services. We've doubled the number of reseller partners in the past 12 months. And our business continues to expand significantly as the industry moves to real-time solutions and away from older batch methods." Online Resources & Communications Corporation ( http://www.orcc.com ) is a leading outsourcer of privately-branded Internet financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. for regional and community banking institutions. The McLean, Virginia-based company has over 375 institutional clients nationwide. The company provides consumer bill paying and banking services, and aggregates lending, insurance, securities trading securities trading, financial activity involving transactions of property such as stocks, bonds, commodities, and currency (see securities). Although the trading of stocks and bonds dates back several centuries in many Western nations, the development of the and investment services. Online Resources performs real-time processing Noun 1. real-time processing - data processing fast enough to keep up with an outside process real-time operation data processing - (computer science) a series of operations on data by a computer in order to retrieve or transform or classify information through its patented EFT gateway and full customer service for client institutions, giving them a comprehensive "hub" solution from a single vendor. Client consumer marketing programs are conducted under the bankonline.com co-brand. This news release contains statements about future events and expectations, which are "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. ." 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. Specific 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 Registration Statement on Form S-1 as filed with the Securities and Exchange Commission. |
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