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Online Resources Appoints Marketing and Technology Executives

^{Published on 2010-11-17 08:05:36 - Market Wire}
 

CHANTILLY, Va.--([ BUSINESS WIRE ])--Online Resources Corporation (Nasdaq: ORCC), a leading provider of online financial services, today announced that effective immediately, Janie M. West and Jeffrey L. Kissling have been named Chief Marketing Officer and Chief Technology Officer, respectively.

"I am very pleased that these two results-oriented leaders have joined the Online Resources team. Janie has a proven track record of driving growth and profitability through focused product management and marketing. Jeff is known for his ability to transform technology functions into high performing contributors to the bottom line"

Ms. West is leading a newly formed Marketing & Product Management group, including product marketing, product management, corporate and consumer marketing, and corporate communications. This group will focus on identifying target markets, defining the right products and services, and using creative and aggressive marketing to drive them into the marketplace. It will also ensure that the company offers the innovative products and services demanded by its chosen markets.

Mr. Kissling is responsible for the companya™s expanded Technology group, including technology development, systems operations and management information systems. This group will partner with the newly created marketing and product organization to ensure that products and services are created with the most advanced technologies available. It is also charged with maximizing the efficiency and effectiveness of the companya™s products and platforms through automation, process improvement and tool development.

aI am very pleased that these two results-oriented leaders have joined the Online Resources team. Janie has a proven track record of driving growth and profitability through focused product management and marketing. Jeff is known for his ability to transform technology functions into high performing contributors to the bottom line,a said Joseph L. Cowan, president and chief executive officer of Online Resources. aThese additions to our organization are an important step in better positioning Online Resources for success, both in providing our clients cost effective, innovative and technically sound solutions and in driving shareholder value.a

Ms. West brings to Online Resources more than 20 years experience in overseeing business development, corporate strategy, product marketing and software sales management for such companies as Interwoven, Manugistics Group, BAAN (now a unit of SSA Global Technologies, Inc.), Invensys, Wonderware, Texas Instruments and InSource Software. She is a graduate of West Virginia University, where she received her B.S. in electrical engineering.

Mr. Kissling has over 30 years of experience in leading technology teams in the development and deployment of world-class products and services. He has led technology strategy and teams at companies including Interwoven, Manugistics Group, BAAN (now a unit of SSA Global Technologies, Inc.), Invensys, Soft Systems Engineering and Wonderware. Mr. Kissling holds a B.S. in Electrical Engineering from Pennsylvania State University and served in the U.S. Navy.

About Online Resources

Online Resources (Nasdaq: ORCC) specializes in powering 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, Online Resources has been recognized for its high growth and product innovation. It 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 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.