IRVING, Texas April 4, 2023 — Exela Technologies, Inc. (“Exela”) (NASDAQ: XELA, XELAP), a global business process automation (“BPA”) leader, today announced the launch of a Treasury-as-a-Service (“TaaS”) solution within the Bills and Payments (“XBP”) portfolio.
Exela has worked with one of the top 5 commercial banks to create a unique end-to-end service that combines solutions for three major workflow components required in a company’s treasury function including bill print services, payment/remittance processing and a streamlined digital payment platform. Exela’s TaaS solution provides interoperability and rapid onboarding of customers and customization. The XBP portfolio is part of Exela’s Information and Transaction Processing Solutions (“ITPS”) accounting segment, which generated $765 million in revenue for FY 2022.
“Banks are looking for solutions that enable ease of use and ease of adoption while focusing on factors such as time-to-market, ability to scale and optimizing cost of ownership. Our TaaS solution is a one stop shop that delivers on these goals by providing a configurable solution that can be rapidly deployed to new financial institutions and enable faster payments to treasury customers,” said Lakshmi Narayanan Chandramohan, President, Bills and Payments
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