SOURCE: eFunds Corporation

March 27, 2007 00:00 ET

EFD Enterprise Fraud Management to Transform Approach to Industry Problem

First New Solution Offering, Integrated Fraud Platform, Leverages Recently Announced Partnership With Digital Harbor

SCOTTSDALE, AZ -- (MARKET WIRE) -- March 27, 2007 -- eFunds Corporation (NYSE: EFD), the company that delivers innovative enterprise payments and data & decisioning solutions, today announced its suite of next generation fraud solutions, developed to transform fraud management at leading global financial institutions. EFD Enterprise Fraud Management is a flexible, comprehensive suite of solutions that enable management of fraud across the enterprise, and will include capabilities spanning multiple account, payment channel and fraud types.

The first solution available under the new suite -- EFD Integrated Fraud Platform -- is the first offering delivered through the recently announced alliance between EFD and Digital Harbor. It enables financial institutions to better leverage existing anti-fraud applications and internal and external data sources to drive better, more efficient decisions in the fraud prevention and investigation process. EFD Integrated Fraud Platform is the first solution of its kind to integrate the management of alerts from multiple sources and the fraud investigation case management process.

Currently, financial institutions struggle with limitations imposed by disparate antifraud applications and manual processes. As a result, fraud investigation and prevention are often divided along product, channel and geographic lines. This approach focuses attention on isolated fraud incidents and prevents institutions from seeing fraud across channels from a customer-level view. This ability to manage fraud at a holistic level, outside of traditional barriers, is widely recognized as one of the most critical needs facing the industry.

"The ability to manage fraud at the enterprise level is becoming increasingly essential as fraudsters penetrate and radiate across lines of business. You need to be able to address the problem with urgency and limit your exposure the moment the first signs occur," said Kay Nichols, executive vice president of strategy, marketing, and product development at EFD. "EFD's Integrated Fraud Platform transforms the conventional approach to fraud -- investigators and departments each with their own queues of alerts and cases based on isolated events -- into an enterprise approach that drives new efficiencies. This allows talented investigative groups to spend more time understanding the evidence and making critical business decisions at a customer level and less time gathering information."

Integrated Fraud Platform includes Integrated Alert and Case Management, which leverage a robust platform developed in partnership with Digital Harbor to manage fraud alerts and cases, and provide sophisticated analytics and dashboard reporting. The solution is built upon Digital Harbor's proven risk and compliance platform that is in use at top financial institutions for fraud, anti-money laundering and know your customer functions. By leveraging this common platform, institutions can increase their efficiency through automation and improve their effectiveness by integrating powerful internal and external data sources. This approach delivers much more than just a sophisticated workflow tool; it delivers a complete fraud management solution that leverages EFD's experience in turning information into insight to solve complex business problems.

"EFD has over thirty-five years' experience helping banks and credit unions address fraud," said Austin Wells, vice president of product management at Digital Harbor. "Adding EFD's cumulative best-practices on top of Digital Harbor's proven risk and compliance platform allows our two companies to deliver a fraud solution that will enable leading financial institutions to improve efficiency, reduce losses, and minimize risk of non-compliance with industry regulations."

Additional resources and information on EFD Enterprise Fraud Management is available at

About EFD eFunds Corporation

With more than 35 years of enterprise payments and data & decisioning expertise, EFD delivers flexible, innovative solutions to the world's leading businesses. Leveraging mission-critical business insight, EFD enables financial services companies, retailers, and government organizations to grow their businesses while reducing transaction and infrastructure costs, detecting potential fraud and building long-term customer value. EFD's flexible delivery model means solutions can be run in-house, outsourced or anything in between, helping customers balance the need for control with operational efficiency and low cost of ownership. From the point of account opening to the settlement of every transaction -- debit, credit, or prepaid -- EFD helps businesses win more of the right customers, serve them more efficiently and keep them.

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 Annual Report on Form 10-K for the period ending December 31, 2006.

Contact Information

  • For additional information:
    Josie Lee
    Brodeur Worldwide
    Tel# 602-808-1162
    Cell# 602-284-5522