Naperville, IL (PRWEB) December 2, 2009
Regulus Group, the premier provider of paper and electronic bill presentment and remittance processing solutions in the United States, today announced that First Express, a subsidiary of First Tennessee Bank, has transitioned all of its lockbox customers processed at its Louisville, KY, location to Regulus. Consisting mainly of large retail customers, the First Express remittance portfolio expands Regulus' total retail volume by roughly 70 million payments annually. First Express will continue to operate its small retail and wholesale lockbox facilities utilizing J&B Software's payment platform in their other locations. Both Regulus and J&B Software are part of the 3i Infotech Group, North America.
This agreement exemplifies 3i Infotech's strategy of delivering flexible, end-to-end payment solutions from a single provider by bringing together both the in-house and outsourced processing components. J&B Software is a premier provider of enterprise-wide transaction and payment system software used to process over two (2) billion transactions annually, while Regulus is the largest retail lockbox provider in the United States, processing over 750 million payments annually. By combining the capabilities of J&B Software with Regulus, 3i Infotech is able to offer in-house, outsourced and hybrid solutions that are unmatched in the industry.
"This end-to-end solution for First Express demonstrates the breadth of services that 3i Infotech, North America, is able to offer," said Kathy Hamburger, president and CEO, 3i Infotech, North America. "This partnership offers the best of both worlds to First Express, allowing them the flexibility to align their business needs with a single provider solution."
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 outsourced payment processor and second-largest outsourced bill presentment provider 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 http://www.regulusgroup.com.
About J&B Software
J&B Software provides payment processing, imaging, electronic content management and capture solutions to businesses worldwide. The Company works with over 160 industry leading organizations including regional and money center banks, insurance companies, mutual funds, credit card processors, brokerage, telecom, utilities, government, non-profit and commercial organizations. J&B Software's library of core applications and product modules utilize open architecture software and hardware platforms. The Company's extensive application suite includes solutions for retail/wholesale lockbox, remote image capture, ARC/Check 21 electronic clearing, intelligent document recognition, healthcare EOB processing, full-page document management, transaction archive and online customer query. J&B Software is a winner of the TAWPI Hall of Fame Award for technology innovation and excellence and its 400+ employees are fully committed to improving the operational effectiveness and profitability our clients. J&B Software is a subsidiary of 3i Infotech. For more information, visit http://www.JBSoftware.com or call 215-641-1500.
About 3i Infotech
3i Infotech is one of India's leading IT companies and among the top 3 Indian Software Products Companies.* The Company provides software products and IT services (Infrastructure and Managed 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.
- Source: Dataquest
Except for the historical information contained herein, statements in this release, which contain words or phrases such as "will", "would", "expect", "believe", and similar expressions or variations of such expressions may constitute "forward-looking statements". These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of our principal international markets, the performance of the industry sectors in which our clients are based, the performance of the information technology industry sector world-wide, competition, our ability to obtain statutory and regulatory approvals and to successfully implement our strategy, future levels of our growth and expansion in business, technological implementation, changes, advancements, and redundancies, the actual demand for software products and services, or the future potential or feasibility thereof, changes in revenue, income or cash flows, our market preferences and our exposure to market risks, as well as other risks. 3i Infotech undertakes no obligation to update forward-looking statements to reflect events or circumstances after the date thereof.