SOURCE: eFunds Corporation

May 16, 2005 07:00 ET

Credit Union Service Corporation Selects eFunds DataNavigator Software for Back-Office Processing

Software Implementation and Renewed Shared Branching and Gateway Processing Relationship Lowers Costs, Improves Flexibility

SCOTTSDALE, AZ -- (MARKET WIRE) -- May 16, 2005 -- eFunds Corporation (NYSE: EFD), a leading provider of risk management, electronic payments and global outsourcing solutions, today announced that Credit Union Service Corporation (CUSC) has selected DataNavigator® for Windows®, eFunds' open platform back-office management solution, for use at more than 630 member credit union locations.

CUSC has also renewed its eFunds shared branching and gateway processing agreement for an additional three years, and currently licenses eFunds' IST®/Switch software to manage its next generation shared branching network. eFunds and CUSC will continue to work together to enhance the IST/Switch transaction processing solution, while ensuring ongoing business continuity through eFunds processing services.

"This integrated software and processing solution combines the best of eFunds' back office and transaction switching software with its world-class processing services in a flexible, scalable, single-source solution," said CUSC president and CEO Carroll Beach. "eFunds provides CUSC members a better, faster, more cost-effective solution to their back-office operations and transaction processing needs. We are pleased to extend our relationship with eFunds across multiple products and services, each of which helps us better meet the service needs of our credit union members."

Using DataNavigator on Windows for the back office, CUSC will be able to increase responsiveness to customer service inquiries, enhance exception item processing, and provide additional tools that enable credit union members to research and report on their customer transactions. Since CUSC also runs its shared branching network through a combination of eFunds' software and processing services, it will also be able to avoid costly system and vendor conversions as business needs expand in the future.

"The CUSC implementation perfectly matches eFunds' ability to provide open systems for its customers," said Rahul Gupta, senior vice president, Payment Account Solutions at eFunds. "CUSC wanted an in-house, open systems architecture that ensured a secure, flexible and robust environment. The combination of DataNavigator on Windows, IST/Switch software and EFT processing solutions -- all of which are key components of eFunds' next generation payments architecture, CONNEX Open Enterprise™ -- meets these needs and blends vision and results for both organizations."

CUSC is the largest shared credit union branching network with over 44 million transactions per year.

About eFunds

eFunds Corporation is an industry leader with nearly 30 years of experience and expertise in electronic payments and risk management. eFunds offers electronic funds transfer software and processing, risk management and related outsourcing solutions to financial institutions, electronic funds transfer networks, retailers, telecommunications providers, and government agencies around the world. Committed to providing excellent customer service and award-winning products, eFunds enables its clients to reduce transaction and infrastructure costs, detect potential fraud and enhance relationships with their customers.

Statements made in this release concerning the Company's or management's intentions, expectations, or predictions about future results or events are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are necessarily subject to risks and uncertainties that could cause actual results to vary from stated expectations, and such variations could be material and adverse. Factors that could result in such a variation include, but are not limited to, the inherent unreliability of earnings and revenue growth predictions due to numerous factors, including many beyond the Company's control, potential difficulties, delays and unanticipated expenses inherent in the development and marketing of new products and services, competitive factors, the unpredictability of merger and acquisition activity, and the numerous risks and potential additional costs, disruptions and delays associated with the establishment of new business initiatives. Additional information concerning these and other factors that could cause actual results to differ materially from the Company's current expectations is contained in the Company's Quarterly Report on Form 10-Q for the period ending March 31, 2005.

eFunds Corporation
Gainey Center II, Suite 300
8501 North Scottsdale Road
Scottsdale, AZ  85253

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