Online Resources and 724 Solutions Team to Deliver Wireless Banking and Payment Services to Regional and Community Financial Institutions

Business Wire, April 18, 2001

Business Editors/High Tech Writers

MCLEAN, Va. & TORONTO--(BUSINESS WIRE)--April 18, 2001

Agreement Brings 350,000 Consumer and Small-business Clients

Closer to Convenience of Secure Mobile Transactions

Online Resources Corp. (NASDAQ: ORCC), a leading Internet application service provider to financial institutions, today announced that its 500 financial institution clients could soon be offering their customers -secure wireless access to their financial information.

In an agreement with 724 Solutions (NASDAQ: SVNX, TSE: SVN), a premier provider of infrastructure software that enables secure mobile transactions, the service will allow financial institutions' high-value customers to securely access online financial services through Web-enabled wireless phones and personal digital assistants (PDAs) throughout the U.S.

The alliance with 724 Solutions continues Online Resources' commitment to multiple access devices and offering its clients a solution that provides greater customer access and customization. As the number of wireless Internet subscribers is expected to reach more than 740 million by 2003 according to Cahners In-Stat Group, Online Resources is looking to position its financial institution clients as leaders in personalized wireless banking.

Through the integration of the 724 Solutions Financial Services Platform (FSP) with Online Resources' Quotien banking services, regional and community financial institutions will be able to deploy mobile banking and bill payment services especially suited for on-the-go customers including viewing account balances, displaying recent transactions, and transferring funds. In later releases it is expected to include expanding banking and bill payment functionality.

"We are pleased to work with 724 Solutions, a leading provider of wireless financial services solutions," said Matthew P. Lawlor, chief executive officer, Online Resources. "The wireless Internet is the next big wave and financial institutions need to move towards this multi-channel opportunity. This agreement will allow Online Resources to offer 724 Solutions' leading technology to financial institution clients who want to be able to offer the same level of security and convenience to on-the-go consumers, as do global banks."

Lawlor commented that with wireless still in early stages of development, Online believed it critical to align itself with a company and wireless platform technology that will stay ahead of the wireless banking curve in supporting future financial applications and services while meeting Online's high industry service levels.

"Not only does 724 Solutions have tremendous experience from wirelessly enabling mobile banking and bill payment for some of the largest North American financial institutions, we were also particularly impressed with the support they can provide Online Resources and our financial institution partners," Lawlor said.

"This agreement extends 724 Solutions' reach to a new segment of the financial services market," said John Sims, Chief Executive Officer, 724 Solutions. "Working with Online Resources, we will be helping regional and community financial institutions compete on the same playing field as the largest banks in North America. The 724 Solutions team is committed to providing the technology and support that will enable Online Resources to offer financial institutions the next level of Internet banking. We also look forward to working with Online Resources to leverage its real-time payments technology."

About Online Resources Corporation

Online Resources Corporation (www.orcc.com), a leading Internet application service provider, offers a comprehensive suite of e-financial services. Founded in 1989, the company provides its Quotien(SM) Internet banking, bill payment, customer care and other Web-based financial services to over 500 financial institutions with 350,000 consumer and small business end-users. As part of its suite of services, the company processes approximately 10 million bill payments per year, clearing over $2 billion. An integrated database enables seamless user support, targeted marketing and personalization. Clients and users benefit from a simple yet powerful Internet solution, backed by an end-to-end service quality guarantee and bundled pricing advantages.

About 724 Solutions Inc.

724 Solutions Inc. is a leading global provider of Internet infrastructure software that enables the delivery of secure mobile transaction solutions across a wide range of Internet-enabled devices. The 724 Solutions suite of products and services enables companies to monetize the mobile Internet by building, deploying, and integrating personalized and secure mobile commerce and lifestyle applications. The company also offers end-to-end customer support through its global application hosting and contact center services. 724 Solutions' customers have a combined customer base totaling more than 270 million consumers worldwide. With dual headquarters in Toronto, Canada, and Austin, Texas, the company has development and sales offices around the world, including Australia, Barbados, Finland, France, Germany, Japan, the Netherlands, Switzerland, the United Kingdom and the United States. 724 Solutions' common shares are listed on the NASDAQ National Market (SVNX) and The Toronto Stock Exchange (SVN). For additional information visit www.724.com.