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BancTec Signs Payment Processing Agreement With Exelon Corporation

Posted on: Thursday, 12 February 2009, 10:01 CST

DALLAS, Feb. 12 /PRNewswire/ -- BancTec, Inc., a global provider of advanced, high-volume, document and payment processing services and solutions, today announced that it has signed a five-year business process outsourcing (BPO) agreement with Exelon Corporation, one of the nation's largest electric utilities. Under the agreement, BancTec's Addison, Ill., BPO facility will assume responsibility for remittance processing for Exelon subsidiary ComEd, while a new BancTec operations facility in Philadelphia will assume responsibility for remittance processing for Exelon subsidiary PECO. Together, ComEd and PECO distribute electricity and gas to approximately 6 million customers.

"Exelon continues to look for opportunities to improve the efficiency of operations and focus on our core business, which is keeping the lights on," said Exelon Senior Vice President and Chief Supply Officer, M. Bridget Reidy. "Working with BancTec will help Exelon meet these objectives and enhance our payment processing capabilities."

"This agreement is a testament to the strong network of facilities and solutions BancTec has developed since establishing our BPO practice," said Jeff Brown, vice president of BancTec's BPO practice in the Americas. "We look forward to working closely with Exelon with the goal of a seamless transition of their remittance processing operations to BancTec."

About BancTec

BancTec helps clients around the world simplify the process of managing their information. Founded in 1972, the company provides a wide range of solutions for automating complex, high-volume and data-intensive business processes for clients in the financial services, healthcare, manufacturing, government, services and utilities industries. BancTec's offerings include business solutions, business process outsourcing, and infrastructure services. With headquarters in Dallas, BancTec serves clients in 50 countries. For more information on how BancTec can help you optimize information management, visit www.banctec.com or call 1-800-BANCTEC.

Forward-Looking Statements

All statements in this press release that do not directly and exclusively relate to historical facts are "forward-looking statements" describing BancTec's objectives, targets, plans, strategies, costs, anticipated capital expenditures and expected cost savings. These statements represent BancTec's intentions, plans, expectations and beliefs, and are subject to risks, uncertainties and other factors, many of which are outside the Company's control. These factors could cause actual results to differ materially from such forward-looking statements. For a written description of these factors, see the section titled "Risk Factors" in the Company's Registration Statement on Form S-1, as amended, initially filed with the Securities and Exchange Commission on August 8, 2007. The Company disclaims any intention or obligation to update these forward-looking statements whether as a result of subsequent events or otherwise except as required by law.

SOURCE BancTec, Inc.

Source: PR Newswire

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