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Online Resources Corporation : ORCC Partners with Truaxis to Deliver Personalized Rewards and More in Digital Banking Channels

08/15/2012 | 11:05am EST

Online Resources Corporation (NASDAQ: ORCC), a leading provider of digital financial services, today announced it has partnered with Truaxis, a leading platform provider that leverages transaction data to help financial institutions deliver personalized rewards, loyalty incentives and other services to their customers.

Truaxis will provide ORCC's bank and credit union clients and their over 3.5 million end users with an industry-leading loyalty rewards platform, StatementRewards. As a result of a seamless integration into ORCC digital banking platforms, end users are now able to access money-saving rewards via personalized offers for their favorite local and national merchants while accessing their digital banking.

"StatementRewards gives financial institutions a way to differentiate themselves in the market while continuing to deliver great value and service to their customers," said Schwark Satyavolu, CEO and co-founder of Truaxis. "Our personalized services deliver a cost-effective rewards program alternative that allows institutions to decrease customer churn, attract new banking customers and increase earnings potential all while helping customers save thousands of dollars each year."

In addition, StatementRewards' intuitive FI Dashboard enables financial institutions to access detailed reports that show customer engagement; control the merchants, types of rewards and number of offers that their customers can see; and allow financial institutions to recruit merchants for exclusive promotions.

"StatementRewards delivers a unique service that will elevate and enhance our financial institution clients' customer relationships. This platform's unique ability to deliver personalized deals and multiple other services such as cross-sell helps our clients differentiate," said Stephen W. Ryan, EVP of Software Solutions and Services for ORCC. "We're pleased to partner with Truaxis as we maintain our mission to provide financial institutions with quality, profitable ways to deliver digital banking services."

About Truaxis

Truaxis (formerly known as BillShrink), the company behind StatementRewards and BillShrink.com, is working with the country's leading financial institutions and merchants to deliver the market's most comprehensive data-driven personalized services platform.

Launched in October 2010, Truaxis' StatementRewards platform leverages sophisticated analytics and matching capabilities to deliver a broad spectrum of data-driven services, including in-statement loyalty rewards that transform the relationships between banks and merchants, help better serving their customers and build brand loyalty. StatementRewards uses secure matching technology and anonymous user transaction data to pair users with personalized merchant offers and recommendations, as well as powering other rich features like a unified loyalty card, social benchmarking spend comparisons, and mobile and social rewards.

Truaxis' award-winning technologies have been recognized twice by Finovate as a "Best in Show" and have received accolades from The New York Times, American Banker, Consumer Reports, Forbes, The Today Show, CNN, FOX, ABC and CBS, among others. Truaxis is headquartered in Redwood City, California. For more information, please visit www.truaxis.com.

About Online Resources Corporation

Online Resources Corporation (NASDAQ: ORCC) powers financial interactions between millions of consumers and the company's financial institution and biller clients. Backed by its proprietary payments gateway that links banks directly with billers, the company provides web and phone-based financial services, electronic payments and marketing services to drive consumer adoption. Founded in 1989, ORCC is the largest financial technology provider dedicated to the online channel. For more information, visit www.orcc.com.

This news release contains forward-looking statements based on Online Resources Corporation management's current expectations and beliefs and a number of assumptions concerning future events made with information that is currently available. The words "will," "would," "may," "should," "estimate," "project," "forecast," "intend," "expect," "believe," "target," "designed," "plan," and similar expressions are intended to identify forward-looking statements. Readers are cautioned not to place undue reliance on such forward-looking statements, which are not a guarantee of any results or performance and are subject to a number of known and unknown risks, uncertainties and other factors which could cause actual performance or results to differ materially and adversely from any results or performance expressed or implied by such forward-looking statements. Certain factors that might cause such a difference include, but are not limited to: a history of losses and anticipation of future losses; potential fluctuations in operating results; dependence on the marketing efforts of third parties; potential loss of one or more material clients; potential need for additional capital; potential inability to prevent systems failures and security breaches; potential inability to expand certain services and products in the event of a substantial increase in demand for such services and products; competitive pressures; ability or inability to attract and retain skilled personnel; reliance on patents and other intellectual property; potential change in the rate of user adoption of certain products and services; exposure to consolidation in the financial services industry; and government regulatory developments. For a more detailed description of the factors that could cause such a difference, please refer to Online Resources Corporation's latest filings with the Securities and Exchange Commission, including (but not limited to) the information provided under the heading "Risk Factors" in our latest Annual Report on Form 10-K. We assume no obligation to update or supplement any forward-looking statements.

Online Resources, ORCC and the Online Resources logo are trademarks of Online Resources Corp. Other company and product names and logos used in this release are the trademarks of their respective owners.

Media Contact for ORCC
Michael Touchton, 678-781-7215
Media Contact for Truaxis
Matt Mirandi, 917-338-4933

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