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Donald W. Layden, Jr. Elected to Online Resources Board of Directors

^{Published on 2010-06-02 18:00:05 - Market Wire}
 

CHANTILLY, Va.--([ BUSINESS WIRE ])--Online Resources Corporation (Nasdaq:ORCC), a leading provider of online financial services, today announced that long-time payments executive and attorney Donald W. Layden, Jr. has been elected to the Company's Board of Directors.

"A key strategic priority for Online Resources is to further develop key industry partnerships, and Dona™s experience, relationships and understanding of these strategic opportunities will be especially valuable."

Since October 2009, Mr. Layden has served as an advisor to Warburg Pincus, LLC, a leading global equity firm, for its payments and transaction processing investments. He is also a partner at Quarles & Brady, LLP, a Milwaukee, WI-based law firm with a focus on technology and business services clients.

Previously, Layden spent more than 17 years in the banking and payments industry, most recently as president of the International Group and senior executive vice president of Corporate Development at Metavante Technologies, Inc. He also served as General Counsel and Secretary of Metavante, which merged with Fidelity National Information Services, Inc. (NYSE: FIS) in 2009.

Prior to joining Metavante, Layden held senior positions at Fiserv, Marshall & Ilsley, and NuEdge Systems, a customer relationship management software company that was acquired by Metavante in 2004.

aWe are very pleased that Don has agreed to bring his online banking and payments industry insight to our Board of Directors,a said John C. Dorman, the companya™s co-chairman of the Board of Directors and interim chief executive officer. aA key strategic priority for Online Resources is to further develop key industry partnerships, and Dona™s experience, relationships and understanding of these strategic opportunities will be especially valuable.a

Layden joins the 2010 class of Directors that is up for election by shareholders at the companya™s Annual Meeting on July 1, 2010.

About Online Resources

Online Resources (Nasdaq: ORCC) powers financial interactions between millions of consumers and the companya™s financial institution and biller clients, including 12 of the top 13 U.S. retail banks and 13 of the top 20 U.S. card issuers.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, Online Resources is the largest financial technology provider dedicated to the online channel. For more information, visit [ www.orcc.com ].

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 Companya™s: history of losses; dependence on the marketing efforts of third parties; potential fluctuations in operating results; ability to make and successfully integrate acquisitions of new businesses; potential need for additional capital; potential inability to prevent systems failures and security breaches; potential inability to expand services and related products in the event of substantial increases in demand; competition; ability to attract and retain skilled personnel; reliance on patents and other intellectual property; exposure to the early stage of market adoption of the services it offers; exposure to the consolidation of the banking and financial services industry; and additional 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.