Online Resources Corporation, a leading provider of online financial services, announced that the Special Asset division of BB&T Corporation (NYSE: BBT) has signed a multi-year agreement for the companyâs biller-direct electronic payment solution.
BB&T will implement Online Resourcesâ service fee payments in the second quarter, enabling its live agents to accept consumer loan payments over the phone. For these payments, Online Resources will provide customer data collection and validation, fee and payment processing, interchange management and settlement. In addition, BB&T will be able to access real-time, on-demand reporting, tracking and management through an online client console.
âOnline Resourcesâ biller-direct payment solution seamlessly integrates with our existing client care infrastructure, enabling us to quickly and effectively capture loan payments over the phone,â said Donna L. Stalls, vice president and Process Manager for BB&T Special Assets. âOur clients benefit from enhanced service while Online Resources removes the risk and complexity of these payments for us by managing payment network costs.â
âWe are pleased to enable BB&T to provide one-call resolution for those customers needing special attention to make payments that require immediate posting,â said Robert R. Craig, executive vice president and general manager of eCommerce Services for Online Resources. âAt the same time BB&T will increase efficiency and lower risk for their incoming loan payments. We look forward to making this service available to them in the very near future.â
Service Fee payments are just one option within Online Resourcesâ eCom Advantage Suite, which provides end-to-end electronic bill presentment, payment and collection solutions that drive online adoption, retention and expansion of biller-direct payments.
With $165.8 billion in assets at Dec. 31, Winston-Salem, N.C.-based BB&T Corp. is the nationâs 10th largest financial holding company. For more information, visit www.BBT.com.
About Online Resources
Online Resources (Nasdaq: ORCC) powers financial interactions between millions of consumers and the companyâs 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.