MCLEAN, Va. — Online Resources Corp., which sells Internet banking software to financial services companies, has promoted Raymond T. Crosier, who has been its executive vice president since July 1999, to president and chief operating officer.

He reports to Matthew P. Lawlor, chairman and chief executive officer.

Online Resources sells Internet banking software, as well as bill payment, customer care, and other financial services under the name of Quotien to about 500 financial institutions with 300,000 consumer and small-business end-users. The company processes about nine million bill payments, worth a total of $2 billion, a year.

“This appointment consolidates operating responsibility for delivering on our recently announced five-point initiative to reach profitability,” Mr. Lawlor said.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.