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EFD (eFunds Corporation)
Encyclopedia
EFD is a payments services company. EFD provides 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.
national market and later that year completed its separation from Deluxe. In March 2007, eFunds Corporation announced its transition to its new corporate brand EFD.
, 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.
Fidelity National Information Services
Fidelity National Information Services, Inc. , also known as FIS, is a publicly traded corporation and is a global provider of banking and payments technology solutions, processing services and information-based 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.
Company history
EFD was formed as eFunds Corporation in 1999 as a spin-off from Deluxe Corporation, bringing together some of the most 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 NASDAQNASDAQ
The NASDAQ Stock Market, also known as the NASDAQ, is an American stock exchange. "NASDAQ" originally stood for "National Association of Securities Dealers Automated Quotations". It is the second-largest stock exchange by market capitalization in the world, after the New York Stock Exchange. As of...
national market and later that year completed its separation from Deluxe. In March 2007, eFunds Corporation announced its transition to its new corporate brand EFD.
EFD | eFunds International
Based primarily in the USUnited States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
, EFD|eFunds International Limited extends EFD's services beyond North America. In India
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
, eFunds employs more than 5,000 employees in its Software Development
Software development
Software development is the development of a software product...
, BPO
Business process outsourcing
Business process outsourcing is a subset of outsourcing that involves the contracting of the operations and responsibilities of specific business functions to a third-party service provider. Originally, this was associated with manufacturing firms, such as Coca Cola that outsourced large segments...
and IT
Information technology
Information technology is the acquisition, processing, storage and dissemination of vocal, pictorial, textual and numerical information by a microelectronics-based combination of computing and telecommunications...
services operations in Mumbai
Mumbai
Mumbai , formerly known as Bombay in English, is the capital of the Indian state of Maharashtra. It is the most populous city in India, and the fourth most populous city in the world, with a total metropolitan area population of approximately 20.5 million...
, Gurgaon
Gurgaon
Gurgaon is the second largest city in the Indian state of Haryana. Gurgaon is the industrial and financial center of Haryana. It is located 30 km south of national capital New Delhi, about 10 kilometers from Dwarka Sub City and 268 km south of Chandigarh, the state capital...
and Chennai
Chennai
Chennai , formerly known as Madras or Madarasapatinam , is the capital city of the Indian state of Tamil Nadu, located on the Coromandel Coast off the Bay of Bengal. Chennai is the fourth most populous metropolitan area and the sixth most populous city in India...
. The company has been ranked among the top three BPO
Business process outsourcing
Business process outsourcing is a subset of outsourcing that involves the contracting of the operations and responsibilities of specific business functions to a third-party service provider. Originally, this was associated with manufacturing firms, such as Coca Cola that outsourced large segments...
providers in the country.