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
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
Contact for Truaxis
Matt Mirandi, 917-338-4933