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CIO Magazine Recognizes Discover For Its Rapid Development Data Sourcing Initiative

June 28, 2011

Annual Award Recognizes Top Technology Innovators

RIVERWOODS, Ill., Jun 28, 2011 (BUSINESS WIRE) -- Discover Financial Services (NYSE: DFS) has been recognized by CIO magazine as one of the top 100 innovative organizations that effectively uses information technology to deliver measurable business value.

"By successfully deploying the Rapid Development Data Sourcing project, business programs accelerated by about 65 percent, allowing data-driven decisions to be made faster," said Glenn Schneider, senior vice president and chief information officer at Discover. "The quick availability of data has led us to enhanced decision-making and risk management, increased operational effectiveness and customer satisfaction."

The selection process for choosing this year's CIO 100 winners included an online application outlining innovative practices in business and technology and a review by CIO magazine editors. This is the fourth time Discover has made the list.

"This year's CIO 100 awards draws well-deserved attention to companies that are not only innovating with IT but creating genuine business value as well," said Maryfran Johnson, editor in chief of CIO magazine & events. "These winning companies and their IT organizations are an inspiration to businesses everywhere."

About the CIO 100

The recipients of this year's CIO 100 award were selected through a three-step process. First, companies filled out an online application form detailing their innovative IT and business initiatives. Next, a team of judges reviewed the applications in depth, looking for unique practices and substantial results. Finally, CIO editors reviewed the judges' recommendations and voted on the final 100. Complete coverage of the 2011 CIO 100 awards will be online at http://www.cio.com on Aug. 1, 2011 and in the Aug. 1 issue of CIO magazine.

About Discover

Discover Financial Services (NYSE: DFS) is a direct banking and payment services company with one of the most recognized brands in U.S. financial services. Since its inception in 1986, the company has become one of the largest card issuers in the United States. The company operates the Discover card, America's cash rewards pioneer, and offers personal and student loans, online savings accounts, certificates of deposit and money market accounts through its Discover Bank subsidiary. Its payment businesses consist of Discover Network, with millions of merchant and cash access locations; PULSE, one of the nation's leading ATM/debit networks; and Diners Club International, a global payments network with acceptance in more than 185 countries and territories. For more information, visit http://www.discoverfinancial.com.

SOURCE: Discover Financial Services

Discover
Jon Drummond, 224-405-1888
jondrummond@discover.com