eFunds Corporation

eFunds Corporation

August 28, 2006 08:00 ET

eFunds Creates New International Position and Appoints Financial Services Industry Veteran, President

Shailesh Kotwal to Lead eFunds International Business as Company Positions Itself for Growth Outside of the U.S. Market

SCOTTSDALE, AZ--(CCNMatthews - August 28, 2006) - eFunds Corporation (NYSE: EFD), the Company that delivers innovative payment processing and information intelligence solutions, today announced the appointment of Shailesh Kotwal as President, International for eFunds Corporation. Kotwal will oversee all aspects of eFunds international operations including strategic direction and growth, global market strategies and international product initiatives.

"Earlier this year we stated that growth in key international markets would be a strategic imperative as we position eFunds for more rapid global expansion," said Paul Walsh, chairman and chief executive officer, eFunds Corporation. "Shailesh Kotwal's appointment is key to our expanded international strategy as we have gained momentum in recent months with the wins of ITMX in Thailand, SNS Bank in the Netherlands, and LINK Interchange Network in the U.K. Shailesh's years of industry experience and his impressive track record of leading successful global expansion efforts will be a valuable asset for the eFunds team."

Kotwal joins eFunds Corporation with more than 17 years in the financial services industry, most recently as vice president and general manager of international insurance services for American Express where he managed product development, diversified the company's distribution channels and implemented operational best practices in 25 countries. Prior to this role based in American Express' corporate offices in New York, Kotwal held various senior management positions at American Express in Asia Pacific and Europe. Kotwal also served on the Board of Directors of several American Express subsidiaries.

"I am pleased to join eFunds and to lead the company's international expansion," said Kotwal. "This is a unique opportunity to apply my results-oriented finance, operations, and business development expertise to a dynamic organization committed to growth in the international market. I look forward to working with this team of world-class executives, and to leveraging my 17 years of financial services industry experience to expand eFunds' business globally."

Kotwal earned a degree in accounting from Bombay University, and holds a Chartered Accountants Certificate, both from India.

In the most recent quarterly earnings teleconference, eFunds announced a revised segment reporting structure where the company would report revenue and earnings geographically and then by primary business resulting in new business line reporting as follows: U.S. Payments, U.S. Risk Management and International.

About eFunds

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. www.efunds.com

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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