News
February 16, 2005

GHR Systems and TransUnion Canada Partner To Deploy Instant Loan Approvals to VISA Desjardins

Toronto, ON and Wayne, PA – February 16, 2005 – GHR Systems, Inc., a leading provider of lending automation technology, announced today that it is providing loan origination and processing technology to Desjardins Card Services (VISA Desjardins). This initiative has brought together GHR Systems and TransUnion Canada to create the TransWorx™ solution based on GHR technology.

VISA Desjardins is using GHR’s complete end-to-end TransWorx system for origination, processing, underwriting and closing. The system is available to approximately 8,000 of VISA’s retail merchants to provide in store point-of-sale loan decisions via the Internet.

VISA Desjardins turned to TransUnion to accommodate the implementation of a new scoring model. “TransUnion continually examines opportunities to facilitate the business relationship between consumers and credit grantors,” explained Ken Porter, President of TransUnion Canada. “Through the innovative use of our information and technology hosting services combined with GHR’s industry leading lending automation technology CreditWorx™, we have created the TransWorx solution to address VISA Desjardins’ needs,” added Porter.

A marketing alliance between TransUnion and GHR Systems enables TransUnion to license and host GHR’s loan approval system, which enables VISA Desjardins to process, document and arrange the funding of credit via the Internet for its merchants. “The solution from TransUnion and GHR has delivered significant operational savings to VISA Desjardins, which experienced healthy business volume growth in 2004,” said Louise Lanoie, Director of Risk Management at VISA Desjardins. “Instant decisioning capabilities refine the precision of our loan approval process. This is increasing our direct operational savings to Desjardins’ bottom line. We are very pleased to have completed our roll-out to merchants and anticipate continued growth in our point-of-sale lending business, facilitated in part by TransWorx.”

“Partnering with TransUnion and VISA Desjardins to deploy an automated, online loan approval system demonstrates the efficacy of the marketing alliance between TransUnion and GHR,” said Rick Arends, President of GHR Systems Canada.

About Desjardins Group

The Desjardins Group, relying on the cooperative difference, its network of subsidiaries and its solid financial equilibrium, intends to be the leading financial institution for satisfying the needs of its members and clients, as well as for business development through its comprehensive, accessible and effective service offerings. Desjardins Group’s mission is to contribute to improving the economic and social conditions of both individuals and communities. Its web site can be found at www.desjardins.com.
Inquiries: Louise Lanoie, Director, Risk Management, (514) 397-4549 (louise.lanoie@scd.desjardins.com)

About TransUnion

TransUnion is a leading global information solutions company that customers trust as a business intelligence partner and commerce facilitator. TransUnion offers a broad range of financial products and services that enable customers to manage risk and capitalize on market opportunities. The company uses leading-edge technology coupled with extensive analytical capabilities to combat fraud and facilitate credit transactions between businesses and consumers across multiple markets. Founded in 1968, Chicago-based TransUnion employs 3,000 associates that support clients in 26 countries. Visit us at www.transunion.com
Marc Lalonde, Regional Manager, (514) 335-9118 ext. 315 (MLalonde@tuc.ca)

About GHR

GHR Systems, Inc., a leading provider of lending automation solutions and services for the vendor financing, consumer and small business lending and residential mortgage industries, provides browser-based and client server platforms and applications for originating, processing and closing loans. GHR’s clients use GHR technology and services to better market, sell and close loans through all their distribution channels. GHR is a Microsoft Gold Certified Partner and processes more than 14 million transactions annually. Visit us on the web at www.ghrsystems.com

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For media inquiries, contact Tricia Schafer-Petrecz at (484) 595-2125, write GHR Systems, 640 Lee Road, Wayne, PA 19087, or e-mail tricia_petrecz@ghrsystems.com.

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