Exela Technologies, Inc. (“Exela”) (NASDAQ: XELA, XELAP) today
announced a new customer, ClearBank, an enabler of secure accounts,
real-time clearing and embedded banking for financial institutions.
Exela will provide its XBP™ platform and processing services,
enabling connectivity to Pay.UK’s interbank Image Clearing System
(ICS). XBP is the largest revenue generator in the ITPS line of
business, which generated $874.2 million in FY 2021.
The Pay.UK Image Clearing System will enable
ClearBank to extend its agency banking services by adding an
enhanced cheque processing solution to multiple banks and financial
institutions.
Exela is a market leader in banking solutions
and services and using its in-house developed XBP platform as well
as workflow and case management solutions is providing a wholistic
clearing service to more banks than any other technology and
services provider.
ClearBank, a newly created clearing bank, works
with a range of financial institutions, and through its API
enabled, cloud-based clearing offering, allows partners to offer
fully regulated banking infrastructure and real-time clearing and
payments to its customers.
"We’re delighted to be working with Exela, and
expanding and enhancing our product offering to include a cheque
processing solution, through the Pay.UK ICS scheme. It’s important
for us that we work with partners who share our values around
enhancing user experience and embracing innovation and working with
Exela allows us stay true to that ambition. We’re excited to see
how the partnership evolves and where it will take us,” said
Charles McManus, Chief Executive Officer at ClearBank.
“We are proud to work with the first new
clearing bank to be created in the UK in over 250 years. We are
also pleased that ClearBank selected Exela’s XBP platform for its
digital journey,” said Vitale Robu, President of Exela EMEA.
About ClearBankClearBank is a purpose-built,
technology-enabled clearing bank. Through its banking license and
intelligent, robust technology solutions, ClearBank enables its
partners to offer real-time payment and innovative banking services
to their customers.
ClearBank is authorized by the Prudential Regulation Authority
and regulated by the Financial Conduct Authority and the Prudential
Regulation Authority (Financial Services Register number:
754568).
Visit www.clear.bank for more information.
About Exela TechnologiesExela
Technologies is a business process automation (BPA) leader,
leveraging a global footprint and proprietary technology to provide
digital transformation solutions enhancing quality, productivity,
and end-user experience. With decades of experience operating
mission-critical processes, Exela serves a growing roster of more
than 4,000 customers throughout 50 countries, including over 60% of
the Fortune® 100. Utilizing foundational technologies spanning
information management, workflow automation, and integrated
communications, Exela’s software and services include
multi-industry, departmental solution suites addressing finance and
accounting, human capital management, and legal management, as well
as industry-specific solutions for banking, healthcare, insurance,
and the public sector. Through cloud-enabled platforms, built on a
configurable stack of automation modules, and approximately 17,000
employees operating in 23 countries, Exela rapidly deploys
integrated technology and operations as an end-to-end digital
journey partner.
For more Exela news, commentary, and
industry perspectives, visit:
https://investors.exelatech.com/
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The information posted on the Company's website
and/or via its social media accounts may be deemed material to
investors. Accordingly, investors, media and others interested in
the Company should monitor the Company's website and its social
media accounts in addition to the Company's press releases, SEC
filings and public conference calls and webcasts.
Forward-Looking
StatementsCertain statements included in this press
release are not historical facts but are forward-looking statements
for purposes of the safe harbor provisions under The Private
Securities Litigation Reform Act of 1995. Forward-looking
statements generally are accompanied by words such as "may",
"should", "would", "plan", "intend", "anticipate", "believe",
"estimate", "predict", "potential", "seem", "seek", "continue",
"future", "will", "expect", "outlook" or other similar words,
phrases or expressions. These forward-looking statements include
statements regarding our industry, future events, estimated or
anticipated future results and benefits, future opportunities for
Exela, and other statements that are not historical facts. These
statements are based on the current expectations of Exela
management and are not predictions of actual performance. These
statements are subject to a number of risks and uncertainties,
including without limitation those discussed under the heading
"Risk Factors" in Exela's Annual Report and other securities
filings. In addition, forward-looking statements provide Exela's
expectations, plans or forecasts of future events and views as of
the date of this communication. Exela anticipates that subsequent
events and developments will cause Exela's assessments to change.
These forward-looking statements should not be relied upon as
representing Exela's assessments as of any date subsequent to the
date of this press release.
Investor and/or Media Contacts:
Vincent KondaveetiE:
vincent.kondaveeti@exelatech.com
Mary Beth BenjaminE:
IR@exelatech.com
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