eFunds Partners with Digital Harbor to Help Financial Institutions Manage Fraud

Business Wire, Feb 12, 2007

Financial Institutions to Benefit from Combination of Innovative Technology and Domain Leadership

RESTON, Va. -- Digital Harbor Inc., a leading provider of risk and compliance solutions built on its composite application technology, announced today that it has formed a strategic alliance with eFunds Corporation, the company that delivers innovative payment processing and information intelligence solutions, to deliver fraud investigation solutions to the banking industry. The cornerstone of the partnership is a jointly branded offering for fraud management which builds upon Digital Harbor's experience developing innovative risk and compliance solutions at top 30 financial institutions and eFunds' expertise at deploying data and decisioning solutions at 8,900 financial institutions worldwide.

The BITS Fraud Management forum and leading risk and compliance analysts including those from Gartner, Forrester, and TowerGroup have identified the need for an enterprise-level architecture for fraud management that allows institutions to manage fraud across multiple channels by better linking and using the information they already have.

To address these requirements, the partnership will focus on providing financial institutions a view of fraud at the customer level, spanning multiple product channels. Financial institutions will benefit from the partnership not only because it draws upon eFunds' expertise in the fraud marketplace, but because the Digital Harbor technology sits on top of any number of existing fraud transaction monitoring systems and core banking systems, allowing financial institutions to leverage the rich information and systems they already have in place to make more efficient and effective decisions about fraud.

"eFunds provides the deep domain expertise in the areas of fraud and risk management and the reach across a broad range of financial institutions to embed the best practices in the software that customers are seeking," said Austin Wells, Vice President of Product Management at Digital Harbor. "The joint offering does not just deliver a workflow for case management; it helps financial institutions integrate their existing information into a single view and provides rich investigative tools that allow them to make better, faster decisions about fraud."

"eFunds and Digital Harbor have proven successes at top tier financial institutions," said Kay Nichols, eFunds Executive Vice President of Strategy, Marketing, and Product Development. "Digital Harbor's composite application technology provides the modern integration, flexible workflow, and unique investigative capabilities required in a next-generation case management solution. Together with eFunds' know-how and business insight, we can change the landscape of the fraud marketplace."

The eFunds / Digital Harbor partnership to deliver fraud investigation and case management is one of several integrated risk and compliance solutions based on Digital Harbor's innovative platform for intelligent composite applications. The company works with partners to deliver a variety of applications targeted at financial institutions, including fraud, anti-money laundering, know your customer (KYC), and others.

About Digital Harbor

Digital Harbor develops integrated risk and compliance solutions on top of its platform for intelligent composite applications. The platform allows customers and partners to rapidly develop powerful information-intensive applications that create a single view of disparate data from multiple sources so business people can make better, faster operational decisions. While the company's platform can be used to meet a variety of business problems across multiple industries, Digital Harbor's initial focus is addressing risk & compliance needs in the financial services industry, including anti-money laundering, fraud management, Enhanced Due Diligence (EDD), Know Your Customer (KYC), sales practice, corporate security, and operational risk.. These solutions allow people at all levels to fight risks and threats more effectively by composing a 360-degree picture of the customer, case, or risk. www.digitalharbor.com

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