Exela Technologies (XELA) Announces Partnership with UK’s Post Office

Exela Technologies, Inc. (“Exela” or the “Company”) (NASDAQ: XELA), a global business process automation leader, today announced Exela has entered into a contract with Post Office Limited, the UK’s largest provider of transactional banking services. Exela will utilize its market leading ICS technology platform and complimentary technology platforms to process Post Office’s cheques securely and expeditiously supported by our delivery organization.

“We are pleased that Post Office Limited chose us. Post Office has the largest branch network in the UK that provides everyday cash and transactional banking services for customers of almost every bank throughout the United Kingdom. Exela already services many major banks in the UK and with this contract, Exela will be able to cover most of the largest banks in the UK. For many years, we have been investing in a suite of technologies including ICS, CoP (confirmation of payee), RTP (real time payments) and XBP ( exchange for bills and payments) as well as the central infrastructure of ICS provided in collaboration with Mastercard and Pay.UK. This contract is a confirmation of our strategy to invest and build market leading technologies and services and partner with leaders like the Post Office.” noted, Vitale Robu, President of EMEA.

Post Office covers the entire UK enabling traditional banks, challenger banks and neo-banks for cash transactions, billing and payments. Post Office is often the last place in town where people can do their everyday banking. For further information on the Post Office banking features and a short video clip, click here.

Martin Kearsley, Banking Director at Post Office, said “We are excited to partner with Exela as the Post Office’s new cheque processor. Cheque processing remains a vital behind the scenes activity in our ability to be able to accept cheques from millions of customers using the Post Office for everyday banking services or making essential payments.”

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