SOURCE: eFunds Corporation

November 14, 2006 08:00 ET

eFunds and U.S. Bank Sign Multi-Year Account Origination Agreement

The QualiFile® Solution Allows U.S. Bank to Dynamically Assign Privileges to Customers on "Day One"

SCOTTSDALE, AZ -- (MARKET WIRE) -- November 14, 2006 -- eFunds Corporation (NYSE: EFD), the company that delivers innovative payment processing and information intelligence solutions, today announced that its subsidiary Chex Systems, Inc. has signed a multi-year agreement with U.S. Bank, a subsidiary of U.S. Bancorp (NYSE: USB), the 6th largest financial services holding company in the United States, for its QualiFile® solution. QualiFile -- part of eFunds' ChexSystems(SM) suite of services -- will provide account decision support at the time of account origination and allow U.S. Bank to set account privileges earlier, thereby making accounts more profitable and enabling superior customer experiences.

U.S. Bank will take advantage of automated and advanced decisioning capabilities offered through QualiFile that segment consumers and set privileges in accordance with consumers' risk profiles. Using both positive and negative data, QualiFile will provide U.S. Bank the insight to manage accounts appropriately in terms of risk and privilege beginning day one.

"U.S. Bank is already recognized in the industry for leveraging technology and analytics to deliver superior service that both meets the needs of the consumer and provides value to U.S. Bank," said Rahul Gupta, president, eFunds U.S. "U.S. Bank will now be able to extend appropriate account privileges and services on a consumer-level basis beginning the same day an account is opened, allowing the Bank to further fulfill its brand promise."

QualiFile, using the unique data and analytics in eFunds' proprietary DebitBureau® database, is designed to predict deposit account risk and integrate fraud and identify information with risk assessment into a single real-time response utilizing a business rules engine and predictive analytics. The cross-selling features of the QualiFile solution help increase sales of bank products, generating new revenue sources and creating deeper relationships. With QualiFile, organizations are able to automate better decisions and provide better service at the point of sale by increasing time spent focused on the customer and reducing time spent interpreting data.

"QualiFile will help U.S. Bank deliver our promise of Five Star Service through providing the accounts and privileges customers deserve," said Trent Spurgeon, vice president of consumer products for U.S. Bank. "By automating decisioning with QualiFile, not only are we using the industry standard to mitigate risks, but in return our customers are happier, safer and more satisfied."

About eFunds

Chex Systems, Inc. is a wholly-owned subsidiary of eFunds Corporation. With more than 30 years of payment processing and information intelligence expertise, eFunds delivers flexible, innovative solutions to the world's leading businesses. Leveraging mission-critical business insight, eFunds 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. eFunds' 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 -- eFunds helps businesses win more of the right customers, serve them more efficiently and keep them.

About U.S. Bank

U.S. Bancorp (NYSE: USB), with assets of $217 billion, is the 6th largest financial holding company in the United States. The company operates 2,462 banking offices and 4,943 ATMs, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. U.S. Bancorp is the parent company of U.S. Bank. Visit U.S. Bancorp on the web at

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, 2005 and subsequent Reports on Form 10-Q.

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

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