eFunds Opens Wholesale Lockbox Services Site in Minneapolis

Operation Provides State-of-the-Art Cash Management

Services for Financial Institutions



Apr 25, 2001, 01:00 ET from eFunds Corporation

    SCOTTSDALE, Ariz., April 25 /PRNewswire/ -- eFunds Corporation
 (Nasdaq: EFDS), a leading provider of electronic payment, risk management and
 related professional services, today announced it has opened its first site to
 provide Web-enabled wholesale lockbox services to financial institutions.  The
 site is located in Minneapolis.
     With this new service, eFunds can serve as the outsourcer for any
 financial institution that wants to offer lockbox services to a corporate
 client.  eFunds becomes the collection point and processor for corporate
 customers of the financial institution, and as payments are received at the
 site, eFunds uses the latest color imaging lockbox technology to capture the
 images of remittance documents and then posts the images on a secure Internet
 site for a financial institution's corporate client to view.
     Depending on the financial institution's instructions, the payments
 received by eFunds are then deposited directly at the financial institution,
 at a correspondent bank, or at the Federal Reserve Bank to speed funds
 availability.
     "Our Web-enabled wholesale lockbox services represent a new era in cash
 management," said Jerry Lester, president of eFunds' Financial Institutions
 and Networks division.  "Financial institutions of all sizes now have access
 to a technologically advanced process that can significantly improve their
 cash management service offering.  Chief financial officers recognize lockbox
 services as a means for getting payments from their customers in the bank
 faster.  Our new process lets them do this while still having access to all
 the supporting documents and information available online for their view via
 their bank's portal on the Internet."
     eFunds will handle the entire process -- from payment receipt, to
 processing and deposit, to information reporting.  Unlike most other wholesale
 lockbox services that use black-and-white images, eFunds' new full color
 imaging process enables companies to view important details missing from
 black-and-white images such as red pen marks, highlighted copy on invoices and
 the postmark on the envelope.
     "We offer our customers the flexibility they need in both format and
 delivery," Lester said.  "Through our system, financial institutions may
 deliver to their commercial clients remittance information about various
 payment instruments, including checks, ACH transactions or wire transfers.
 Financial institutions' corporate customers will have the option to receive
 their information through the Internet, on CD-ROM, via fax, mail or phone."
     eFunds plans to open additional  locations for this service in other
 cities.
 
     About eFunds Corporation
     eFunds Corporation delivers innovative, reliable and cost-effective
 technology solutions to meet its customers' payment and risk management,
 e-commerce and business process improvement needs.  eFunds provides its
 services to financial institutions, financial services companies, electronic
 funds networks, retailers, government agencies, e-commerce providers and other
 companies around the world.  For more information, visit www.efunds.com.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X43434068
 
 

SOURCE eFunds Corporation
    SCOTTSDALE, Ariz., April 25 /PRNewswire/ -- eFunds Corporation
 (Nasdaq: EFDS), a leading provider of electronic payment, risk management and
 related professional services, today announced it has opened its first site to
 provide Web-enabled wholesale lockbox services to financial institutions.  The
 site is located in Minneapolis.
     With this new service, eFunds can serve as the outsourcer for any
 financial institution that wants to offer lockbox services to a corporate
 client.  eFunds becomes the collection point and processor for corporate
 customers of the financial institution, and as payments are received at the
 site, eFunds uses the latest color imaging lockbox technology to capture the
 images of remittance documents and then posts the images on a secure Internet
 site for a financial institution's corporate client to view.
     Depending on the financial institution's instructions, the payments
 received by eFunds are then deposited directly at the financial institution,
 at a correspondent bank, or at the Federal Reserve Bank to speed funds
 availability.
     "Our Web-enabled wholesale lockbox services represent a new era in cash
 management," said Jerry Lester, president of eFunds' Financial Institutions
 and Networks division.  "Financial institutions of all sizes now have access
 to a technologically advanced process that can significantly improve their
 cash management service offering.  Chief financial officers recognize lockbox
 services as a means for getting payments from their customers in the bank
 faster.  Our new process lets them do this while still having access to all
 the supporting documents and information available online for their view via
 their bank's portal on the Internet."
     eFunds will handle the entire process -- from payment receipt, to
 processing and deposit, to information reporting.  Unlike most other wholesale
 lockbox services that use black-and-white images, eFunds' new full color
 imaging process enables companies to view important details missing from
 black-and-white images such as red pen marks, highlighted copy on invoices and
 the postmark on the envelope.
     "We offer our customers the flexibility they need in both format and
 delivery," Lester said.  "Through our system, financial institutions may
 deliver to their commercial clients remittance information about various
 payment instruments, including checks, ACH transactions or wire transfers.
 Financial institutions' corporate customers will have the option to receive
 their information through the Internet, on CD-ROM, via fax, mail or phone."
     eFunds plans to open additional  locations for this service in other
 cities.
 
     About eFunds Corporation
     eFunds Corporation delivers innovative, reliable and cost-effective
 technology solutions to meet its customers' payment and risk management,
 e-commerce and business process improvement needs.  eFunds provides its
 services to financial institutions, financial services companies, electronic
 funds networks, retailers, government agencies, e-commerce providers and other
 companies around the world.  For more information, visit www.efunds.com.
 
                     MAKE YOUR OPINION COUNT -  Click Here
                http://tbutton.prnewswire.com/prn/11690X43434068
 
 SOURCE  eFunds Corporation