EFunds Corporation

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EFunds Corporation

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EFD
Formerly	eFunds Corporation
Company type	Subsidiary (since 2007)
Industry	Financial services, electronic funds transfer, retail
Founded	1999 (25 years ago) (1999) in Minneapolis, Minnesota, USA
Defunct	September 12, 2007 (2007-09-12)
Fate	Acquired by FIS
Headquarters	Scottsdale, Arizona, USA
Key people	Gus Blanchard, CEO Debra Janssen, CEO Paul Walsh, CEO Frank Martire, CEO Gary A Norcross, CEO Stephaine Ferris, CEO
Products	AO Smith Deluxe Data EFD Connex on IBM built in 1975 EFD Connex on HP built in 1981 (also known Connex Advantage) EFD DataNavigator EFD FraudNavigator EFD ChexSystems EFD DebitBureau v3.0 Settlement - IBM based backend Settlement System ebtEDGE - EBT processing system PPS - Prepaid South card issuing platform IST switch, All Card, Clearing, MAS - acquired as a part of Oasis Technologies, Canada
Revenue	$552.4 million USD (2006)
Number of employees	5,000
Subsidiaries	ChexSystems
Website	www.efunds.com

EFD (or eFunds Corporation) was a Scottsdale, Arizona based payments processor of electronic payments including debit card and automated teller machine (ATM) transactions. It provided financial service companies and other large enterprises with new account decisions, fraud detection and payment processing services. On June 27, 2007, Fidelity National Information Services, Inc. (FIS) announced that it was acquiring EFD in an all-cash transaction valued at about $1.8B. The target completion date for the acquisition was the 3rd quarter of 2007. ^[1]

Company history

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EFD was formed as eFunds Corporation in 1999 as a spin-off from Deluxe Corporation, bringing together established players in financial risk management and electronic transaction processing services; previously distinct businesses within Deluxe.

In January 2000, iDLX Technology Partners, another Deluxe unit, combined with eFunds to add professional services and business process outsourcing capabilities to the new business. In June 2000, eFunds held its initial public offering on the NASDAQ national market and later that year completed its separation from Deluxe.^{[citation needed]}

In March 2007, eFunds Corporation announced its transition to its new corporate brand, EFD.

EFD/eFunds International

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Based primarily in the US, EFD/eFunds International Limited extends EFD's services beyond North America. In India, eFunds employs more than 5,000 employees in its Software Development, BPO and IT services operations in Mumbai, Gurgaon and Chennai. The company has been ranked among the top three BPO providers in the country.^[2]

References

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^ "Fidelity National Information Services, Inc. Completes Acquisition of EFD/eFunds Corporation" (Press release). September 12, 2007.
^ Chhabra, Mohit (2004-11-08). "DQ-IDC INDIA SURVEY: BPO E-SAT 2004". DataQuest. Archived from the original on 2006-12-23. Retrieved 2006-12-26.

External links

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EFD/eFunds International

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