Online Resources Corp. (ORCC) announced Wednesday an updated version of its web-based debt collection tool for financial institutions and billers.

Virtual Collection Agent (VCA) 5.0 allows those who owe money to create payment plans and settlement arrangements as well as make payments to companies online.

The updated version of VCA extends its feature set to include the ability to handle multi-account relationships with each consumer, support of promotional codes that allow for tracking of marketing campaigns and previous call center agent interactions, among other enhancements, according to ORCC.

The tool points to an ongoing trend of self-service technology enhancements designed to help consumers avoid potentially embarrassing conversations with debt collectors, while also saving the creditor money on call center costs.

BBVA Compass, of Birmingham, Ala., created a self-service website that delinquent borrowers and cardholders can use to help settle their accounts.