Exela Technologies Secures Three-year Contract Worth $100 million

Exela Technologies (NASDAQ:XELA) announced that it was selected to provide payment and exception processing services for a top 10 global bank.

The company said that the new contract was an expansion of its existing relation with the bank which is now over a decade.

As quoted in the press release:

The new business is anticipated to be fully ramped in the first quarter of 2019.

Exela’s banking solutions enable banks and financial institutions to deploy Exela’s proprietary technologies across many functions on a standalone or integrated basis, taking what can be a complex process and converting it into a competitive advantage. By leveraging its global footprint and proprietary technology to deliver location agnostic deployments, Exela’s mission is to enable customers on their digital journey. Exela combines digital platforms and knowledge workers to drive efficiency and quality throughout its customers’ business processes, providing aid in data aggregation, processing, decisioning, and communications, all of which are the reasons why more than 120 banks globally trust Exela with many of their mission critical processes.

“We help our customers anticipate, manage and improve operations, maximize efficiency and improve the end-customer and employee experience,” said Cisco Liquido, Vice President, Business Strategy, Exela Technologies. “Forward-looking business transformation is possible with a partner who can offer the technology-enabled solutions needed to automate previously fragmented and or manual business processes.”

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