Exela Technologies AI powered solution nominated for Pay360 award

- Best Use of Payments Data or AI in Financial Services

LONDON, June 21, 2023 (GLOBE NEWSWIRE) -- Exela Technologies, Inc. (“Exela” or “the Company”) (NASDAQ: XELA, XELAP), a leader in business processing automation (“BPA”) announced today Exela is a finalist in this year’s Pay360 awards in the category: Best Use of Payments Data or AI in Financial Services. A panel of over 65 judges selected Exela Technologies solution from a large number of entrants. In October, winners will be announced.

Exela has developed a range of best-in-class software suites and Software as a Service (SaaS) offerings in the payments arena. The nomination was achieved on the back of 30 years of experience in using smart technologies to streamline payment processes.

Vitalie Robu President of Exela EMEA notes, “This award nomination is testament to the capabilities of our solutions and our capacity to help organisations make the most of AI and other relevant technologies for the future. It also aligns with the strategic direction in the anticipated public launch of XBP Europe, our European business.”

The need for seamless business processes
Organisations everywhere are working hard to balance security requirements with the need for frictionless transactions and smooth processes. Tools like predictive outcome AI have become a crucial element, especially in regulated financial services.

Often, firms lack the budget and resources to implement the smart, AI-powered solutions they need to enhance data-driven planning and prevent issues such as payment fraud or bottlenecks with suppliers. As XBP Europe, the company will continue to deliver solutions that tackle these issues.

XBP Europe will offer solutions to enhance the liquidity of its customers. It will blend technology and people to support processing bills, payments, workflow automation and intelligent document processing. This covers traditional and emerging standards across the continent for more than 2,000 enterprises, serving over 430 million European residents.

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