IRVING, Texas, July 17, 2018 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. (“Exela”) (NASDAQ: XELA ), a global business process automation (BPA) leader, today announced its first listing in the Everest Group’s Know Your Customer Anti Money Laundering (KYC-AML) BPO PEAK Matrix, entering the report as a “Major Contender” in the KYC-AML BPO market. According to the assessment, Everest Group , a leading consulting and research firm, Exela is one of the key players in the KYC-AML BPO market in terms of revenue, number of clients, and year-over-year growth.
“Financial institutions are facing challenges in the KYC-AML market because of increasing regulations and a surge in cybercrime, all while keeping pace with the latest technology,” said Cisco Liquido, Vice President, Business Strategy, Exela Technologies. “We are proud to be listed in the Everest Group PEAK Matrix, and proud of being a trusted partner for our customers, helping combat fraud and compliance concerns.”
Evolving compliance laws and an increase in money laundering activities is placing emphasis on KYC-AML in the Banking BPO industry. Exela’s outsourced solutions help organizations transform baseline compliance and AML checks into a competitive advantage, leveraging the Company’s advanced technology offerings, such as accelerated digital onboarding, complex process automation, screening and monitoring solutions, and predictive analytics and insights, among others. Exela’s highly configurable and adaptable solutions go beyond facilitating compliance by creating an information advantage for its clients, including 120 banks and 60 percent of the Fortune 100.
“The growing role of ecommerce and the influence of P2P payments is giving rise to new channels for money launderers to escape the regulatory eye,” said Manu Aggarwal, Everest Group BPS Practice Director. “The age-old way of setting up heavy compliance shops is neither sufficient nor efficient for the banks to maintain anymore. Exela Technologies seeks to provide a credible solution to this challenge via its technology-led offerings that allow it to reap a substantial revenue in the KYC-AML BPO segment without engaging a huge pool of resources”
The KYC-AML BPO PEAK Matrix provides an objective and comparative assessment of various KYC-AML BPO providers. Read the full report here, and visit the Everest Group website to learn more about the PEAK Matrix assessments .
About Exela: Exela Technologies, Inc. (“Exela”) is a global business process automation ("BPA") leader combining industry-specific and industry-agnostic enterprise software and solutions with decades of experience. Our BPA suite of solutions are deployed in banking, healthcare, insurance and other industries to support mission critical environments. Exela is a leader in work flow automation, attended and un-attended cognitive automation, digital mail rooms, print communications, and payment processing with deployments across the globe.
Exela partners with customers to improve user experience and quality through operational efficiency. Exela serves over 3,500 customers through a secure, cloud-enabled global delivery model. We are 22,000 employees strong at nearly 1,100 onsite client facilities and 150 delivery centers located throughout the Americas, Europe and Asia. Our client list includes 60% of the Fortune® 100, along with many of the world’s largest retail chains, banks, law firms, healthcare insurance payers and providers and telecom companies. Find out more at www.exelatech.com
Follow Exela on Twitter: https://twitter.com/exelatech Follow Exela on LinkedIn: https://www.linkedin.com/company/11174620/
Jim Mathias, VP IR E: ir@exelatech.com W: investors.exelatech.com T: 972-821-5808
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