Acquisition Further Expands Position of 3i Infotech Subsidiary, Regulus Group, As Largest Outsourced Remittance Processor in US
MUMBAI, India / NAPERVILLE, IL. – July. 06, 2009 – 3i Infotech, a global provider of IT solutions, today announced that it has completed its acquisition of J.P. Morgan’s national retail lockbox business (NRLB).
3i Infotech’s subsidiary, Regulus Group, is the largest outsourced remittance processing provider in the U.S., and this acquisition further strengthens that position. Between its seven remittance processing locations, including the newly acquired J.P. Morgan’s NRLB sites in Louisville, KY, and Phoenix, AZ, Regulus processes more than 700 million payments annually. Virtually all J.P. Morgan Treasury Services NRLB employees have been retained as Regulus associates.
“We are thrilled to bring together a level of talent, experience and payment expertise unparalleled in the industry,” said Kathy Hamburger, CEO and president of 3i Infotech, North America. “Along with our larger footprint and greater economies of scale, we have increased our ability to help companies reduce costs while achieving greater operational efficiency. Regulus is leveraging our leadership position, advanced technologies, and far-reaching capabilities to deliver the innovative solutions that this dynamic marketplace demands.”
With the addition of the newly acquired sites, the value of the payments that Regulus processes exceeds $300 billion annually. Regulus also works with 1 in 5 of the Fortune 100, and produces one out of every 25 consumer billing statements mailed in the US.
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ABOUT
REGULUS GROUP
Regulus Group is the premier provider of outsourced billing and payment services designed to accelerate cash, improve corporate productivity and reduce overall management costs. Our integrated approach to the payment lifecycle enables Regulus customers to outsource and automate their most resource-consuming billing and payment requirements while actually increasing control over the entire process. As the largest bill presentment and payment processors in the United States, Regulus services over two billion paper and electronic transactions every year for companies in the telecom, insurance, finance, utility, and healthcare industries. Regulus is a subsidiary of 3i Infotech. For more information, visit www.regulusgroup.com
ABOUT 3i INFOTECH 3i Infotech is one of India’s leading IT companies and among the top 4 Indian Software Products Companies.* The Company provides software products and IT services (Managed IT Services, Application Software Development & Maintenance, Payment Services, Business Intelligence, Document Imaging & Digitization, Operations Outsourcing (BPO) and IT Consulting) for the Insurance, Banking, Capital Markets, Mutual Funds, Wealth Management and Government verticals. The Company services customers in over 50 countries across 5 continents.
3i Infotech is SEI CMMI Level 5 compliant for Software Services, ISO 9001:2000 certified for BPO Services and ISO 27001:2005 certified for Infrastructure Services.
*
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