Wheeler Financial™ from Pitney Bowes Launched
to Provide Equipment Financing to Small and Medium Businesses
Pitney Bowes Inc. (NYSE:PBI), a global technology company that
provides commerce solutions in the areas of ecommerce, shipping,
mailing, finance, and data, today announced a partnership with
Genpact (NYSE:G), a global professional services firm focused on
delivering digital transformation. This innovative partnership
allows Pitney Bowes to leverage a best-in-class digital technology
platform to expand its lending capabilities.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20190319005257/en/
Through Genpact’s business-process-as-a-service (BPaaS)
capability, one of the first of its kind in the equipment finance
market, Pitney Bowes’ will offer its clients a unique, state of the
art equipment finance platform. This managed services operating
model will allow Wheeler Financial, which Pitney Bowes launched
today, to scale quickly and meet market and customer needs in a
flexible and agile manner. Wheeler Financial will help clients
purchase new equipment and services critical to the industries in
which they operate with loans, leases, and other financial
structures.
“Pitney Bowes has the reach, distribution, and capital to
continue to invest in the needs of our clients,” said Marc B.
Lautenbach, President and Chief Executive Officer, Pitney Bowes.
“Our partnership with Genpact gives us a digital technology
platform and innovative business model to deliver a cost efficient,
seamless customer experience. We are building a stronger future
together with our clients for mutual growth.”
Genpact brings its decades-long operations experience in
equipment finance to provide digital technology, process expertise,
and portfolio and customer operations support. Through its digital
business platform Genpact Cora, Genpact is committed to
transforming and innovating the technology that supports the
equipment finance market, leveraging advanced technologies such as
artificial intelligence and robotic process automation.
“Equipment leasing is a dynamic industry with changing market
conditions that demand agile, efficient operations—especially
critical to meet the needs of small and medium sized business that
often operate on tight margins,” said NV "Tiger" Tyagarajan,
Genpact President and Chief Executive Officer. “The innovative
BPaaS model we are creating with Pitney Bowes leverages digital
technology and advanced analytics to provide faster and better
access to data enabling smarter, quicker, and more strategic asset
financing decisions along with superior customer experience.”
Focused on financing for equipment beyond what Pitney Bowes
manufactures, Wheeler Financial provides flexible financing
solutions for multiple needs of small and medium businesses and is
committed to investing in clients’ sustainability and growth.
“Continuing our history of innovation, we are taking a new
approach to the equipment finance market,” said Christopher
Johnson, Senior Vice President and President, Pitney Bowes
Financial Services. “In partnering with Genpact, we can access both
digital, best in class technology, and managed services that allow
us to be more agile and cost efficient in the marketplace. This
allows us to gain scale efficiently to meet our client's needs.
This partnership adds an important additional dimension to our
competitiveness.”
Pitney Bowes Financial Services has been providing commercial
lending opportunities and solutions to purchase Pitney Bowes
equipment for more than 30 years; financing over $10B to date. The
Pitney Bowes Bank, Inc., Member FDIC, resides in Salt Lake City,
Utah and was established in 1997 to facilitate buying of U.S.
postage – a form of currency. Pitney Bowes clients can access
extended lines of credit for postage, supplies, shipping expenses
and postal equipment rental. In addition, they can hold deposit
accounts and earn interest while they prepay for postage
services.
Pitney Bowes is continuing to reinvest in its financial services
business as it makes resources available to its significant small
and medium business client base. The company has facilitated
commerce for nearly 100-years and is committed to having a positive
impact on local communities and jobs.
Visit the Wheeler Financial from Pitney Bowes website to learn
more. See Genpact’s website for more details on its commercial
leasing and leading solutions.
About Pitney BowesPitney Bowes (NYSE:PBI) is a global
technology company providing commerce solutions that power billions
of transactions. Clients around the world, including 90 percent of
the Fortune 500, rely on the accuracy and precision delivered by
Pitney Bowes solutions, analytics, and APIs in the areas of
ecommerce fulfillment, shipping and returns; cross-border
ecommerce; office mailing and shipping; presort
services; location data; customer information and engagement
software; services; and financing. For nearly 100 years Pitney
Bowes has been innovating and delivering technologies that remove
the complexity of getting commerce transactions precisely
right. For additional information visit Pitney Bowes, the
Craftsmen of Commerce, at www.pitneybowes.com.
About Wheeler Financial from Pitney BowesWheeler
Financial™ from Pitney Bowes is a subsidiary of the Pitney Bowes
Bank, member FDIC, dedicated to helping small to lower middle
market clients acquire the critical assets they need to grow and
expand their business with innovative financing solutions. The
Pitney Bowes Bank, together with Pitney Bowes, has been leasing
Pitney Bowes equipment for over 20 years. Our expansion into
helping our clients finance other purchases reflect our continued
commitment to helping our customers grow efficiently and
effectively.
About GenpactGenpact (NYSE:G) is a global professional
services firm that makes business transformation real. We drive
digital-led innovation and digitally-enabled intelligent operations
for our clients, guided by our experience running thousands of
processes primarily for Global Fortune 500 companies. We think with
design, dream in digital, and solve problems with data and
analytics. Combining our expertise in end-to-end operations and our
AI-based platform, Genpact Cora, we focus on the details – all
87,000+ of us. From New York to New Delhi and more than 25
countries in between, we connect every dot, reimagine every
process, and reinvent companies’ ways of working. We know that
reimagining each step from start to finish creates better business
outcomes. Whatever it is, we’ll be there with you – accelerating
digital transformation to create bold, lasting results – because
transformation happens here. Get to know us at Genpact.com and on
LinkedIn, Twitter, YouTube, and Facebook.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190319005257/en/
John SpadaforaPitney Bowes Inc.john.spadafora@pb.com+1
518-708-3466
Danielle D’AngeloGenpactdanielle.dangelo@genpact.com+1
914-336-7951
Pitney Bowes (NYSE:PBI)
Historical Stock Chart
From Aug 2024 to Sep 2024
Pitney Bowes (NYSE:PBI)
Historical Stock Chart
From Sep 2023 to Sep 2024