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Online Resources Names Two New Members of Management Team

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^{Published in Science and Technology on Tuesday, May 10th 2011 at 9:10 GMT by Market Wire}  

CHANTILLY, Va.--([ BUSINESS WIRE ])--Online Resources Corporation (NASDAQ: ORCC), a leading provider of online financial services, today announced it has named two new members to its management team. Stephen W. Ryan has been named executive vice president of Software Solutions and Services, and Eric M. Labiak has been named Chief Sales Officer.

"These appointments and organizational changes are important steps in the companya™s transition from a siloed structure to an integrated organization that aligns business functions for maximum efficiency and effectiveness"

aThese appointments and organizational changes are important steps in the companya™s transition from a siloed structure to an integrated organization that aligns business functions for maximum efficiency and effectiveness,a said Joseph L. Cowan, Online Resourcesa™ president and chief executive officer. aWe are very pleased to have the expertise and deep industry experience that Eric and Steve bring to the table, and we look forward to the leadership and value they will bring to Online Resources as we continue to pursue our strategic growth plan.a

Steve Ryan will lead the newly formed Software Solutions and Services group. This group encompasses the companya™s custom software and solutions, including Architect Online Banking and the award-winning Virtual Collection Agent^TM, as well as all professional services and project management functions. Mr. Ryan is charged with driving revenue through software and custom service delivery to clients and partners. He is also responsible for ensuring the efficiency of client implementations across the organization.

Mr. Ryan is a seasoned banking, payments and internet security executive who has successfully developed and launched new financial technology products in U.S. and global markets. He brings to Online Resources more than 20 years of experience at major industry players, including Bank of America, First Data, Visa USA, as well as several online banking security firms. Most recently, he was the senior vice president and co-founder of IronKey, a mobile security solutions provider for online banking financial services. Mr. Ryan holds a B.S. in management information systems from Old Dominion University.

Eric Labiak will lead the newly formed Sales and Client Services group, which combines the two former groups that separately served the banking and ecommerce markets. Mr. Labiak is charged with strengthening the sales organization to drive revenue through new client sales and partnerships, as well as growing existing client relationships and satisfaction levels.

Over the past four years, Mr. Labiak has served as Online Resourcesa™ senior vice president of eCommerce Sales and Client Services where he has been instrumental in growing that business line. Prior to Online Resources, Mr. Labiak led sales and marketing at Image Processing Systems, an accounts payable outsourcing processor to Fortune 500 companies across multiple verticals, and also served as a general manager in the capital goods industry. He is a graduate of Lehigh University, where he received his B.S. in systems and industrial engineering.

About Online Resources

Online Resources (NASDAQ: ORCC) powers financial interactions between millions of consumers and the Companya™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 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.

Online Resources and the Online Resources logo are trademarks of Online Resources Corp. Other company and product names may be trademarks of their respective owners.