Credit card companies assisted in dealing with delinquencies

Three of the top ten card issuers in the U.S. have entered into multi-year confidential agreements for online collections service provided by Online Resources Corporation.

Within this partnership the clients are to use Online Resources' award-winning Virtual Collection Agent(TM) to serve their domestic credit card and other consumer lending portfolios. The Virtual Collection Agent provides a fully compliant, 24x7 online customer service and collection environment which improves recovery of outstanding debt while maintaining a positive consumer experience.

With Online Resources companies could provide account holders with a private, convenient way to resolve their delinquency which resulted in reducing credit card charge-offs by 10 percent or more. Using the Virtual Collection Agent clients can rapidly scale their debt recovery efforts in response to ever-changing business and market needs, without adding labor costs.

In addition to these three companies there are other 20 top U.S. card issuers which deploy Online Resources' full suite of account presentment, payment and receivables services via the web, IVR and CSR.