Fifth Third licenses eFunds' account origination product QualiFile
09 January 2006 | 1385 views | 0
eFunds (NYSE:EFD), a leading provider of risk management, electronic payments and global outsourcing solutions, today announced that Fifth Third Bank has selected QualiFile for account origination decision support for its more than 1100 full service banking centers.
Fifth Third, which has over $104 billion in assets across nine states, integrated QualiFile into its branch automation platform to drive the new account decision-making process.
QualiFile provides advanced decision support through access to the proprietary DebitBureau database maintained by eFunds Financial Services as well as analytical models to support improved account origination decision-making. These capabilities enable financial institutions to open more profitable accounts while protecting themselves from account abuse. QualiFile also supports cross selling efforts to increase sales of bank products thereby generating new revenue sources.
"QualiFile is key to our commitment to mitigate risk and open accounts that drive revenue for Fifth Third," said Patrick Ziller, Senior Vice President, Retail Operations at Fifth Third Bank. "By integrating QualiFile with our automation platform, we expect to increase our deposit account openings and improve cross selling of products throughout our bank."
QualiFile has been installed in over 350 financial institutions and has a proven history of improving customer profitability and risk management results.
"We are excited to expand our long-standing relationship with Fifth Third Bank through the implementation of QualiFile," said Rahul Gupta, senior vice president and division executive, eFunds Payment Account Solutions. "From every touch point, eFunds delivers solutions that generate revenue, improve risk management, increase operational efficiency and reduce costs. The addition of QualiFile is another way for Fifth Third to realize these important business objectives."