Magnum to Deliver Solutions for Credit and Risk Analysis and Authorization Through Alliance with eFunds Corporation

Magnum™, a leader in credit data access, analysis and decision applications, Friday announced a re-marketing and acquirer agreement between Magnum and Chex Systems, Inc., a wholly-owned subsidiary of eFunds Corporation. Under the agreement, clients of Magnum’s risk management and credit scoring solutions will have another way to access eFunds’ Debit Report™ and associated products.

By providing access to Debit Report through the Magnum platform, users can use the eFunds data to access, analyze, and make lending risk decisions on records that are traditionally hard to score through conventional data bureau products. For those records that have thin or no files, or are in the sub-prime market, the historical debit information that eFunds? Debit Report provides allows credit grantors to make decisions on applicants who were previously difficult to decision. Through Debit Report, users can access DebitBureau®, one of the most comprehensive debit databases available.

Magnum’s CREDICHECK®, RapUP®, and Decision Assistant®, score and analyze business and consumer data to provide real-time loan decisions. Magnum’s robust credit report retrieval and analysis software is designed to quickly retrieve the eFunds data, as well as other available credit information, and render a decision based on the clients own risk management rules. The Magnum suite provides all of the tools needed to obtain the eFunds data and other data, to build comprehensive decision policies, and to enhance the credit approval process, and reduce the time and costs involved with users making a loan decision.

“The alliance between Magnum and eFunds helps Magnum’s leading credit industry customers make faster, more informed decisions about credit risk by giving them greater confidence concerning customer related decisions.” said Carl E. Eikhoff, chairman and chief executive officer of Magnum. ?By having eFunds’ broader range of data to use in the decision process, credit managers and their institutions can focus on trusted, profitable customer relationships while avoiding unnecessary risk.”

“Through this agreement, eFunds is able to extend its industry-leading risk management solutions to Magnum’s customers,” said Rahul Gupta, senior vice president and division executive, eFunds. “Delivering a comprehensive suite of data, network, systems technology and analytical decision making capabilities further reinforces our commitment to helping customers make better and more informed credit decisions.”