PR - Kinecta Federal CU Converts to Online Resources For Bill Payment

Online Resources Corporation (Nasdaq: ORCC), a leading provider of Web-based financial services, today announced that Kinecta Federal Credit Union has signed a multi-year agreement for electronic bill payment and other online services. Kinecta, based in Southern California, is the 13th largest credit union in the country, with over $4 billion in assets and more than 200,000 members.

Under the agreement, Kinecta migrated all of its in-house bill payment processing to Online Resources’ PayAnyone service in August. In addition, the credit union has deployed the company’s online account opening, ACH processing and e-Statement services. Kinecta utilizes the Episys core processing platform offered by Symitar. As a member of Symitar’s Vendor Integration Program, Online Resources was able to facilitate a seamless, expedited implementation.

“We recognized that outsourcing our payment processing to a best-of-breed provider was the only option to achieve industry leading electronic rates and deliver an exceptional member experience,” said Shannon Doiron, director of E-Commerce at Kinecta Federal Credit Union. “We have outstanding early results, having increased our electronic rate by over 18 percent immediately following our conversion.”

“Additionally,” notes Doiron, who led the design and development of Kinecta’s proprietary online banking system, “Online Resources’ solution enables us to maintain our user Interface, ensuring a seamless integration without members having to learn a new bill pay system. Online Resources’ product snapped in quite easily.”

Stephanie Chaufournier, Online Resources’ executive vice president and general manager for Banking Payment Services, agrees. “Bill payment processing is a complex business that requires unique capabilities to achieve best in class performance. Our Biller Network and Real-Time Digital Scanline technologies make it possible for us to offer our clients the highest electronic and lowest claims rates in the industry. We are committed to helping our clients enrich their Internet channel with best-of-breed payment services that keep them competitive.”