Shares of Exela Technologies Inc (NASDAQ:XELA) fell another 4% in the previous session and closed at a 52-week low.
Trading Data
On Thursday, XELA stock fell 4.20% to $0.4520 with more than 28.32 million shares, compared to its average volume of 21.82 million shares. The stock has moved within a range of $0.4500 – 0.4860 after opening trade at $0.4780.
Exela Technologies Expands Partnership with Global Bank
Global business automation leader, Exela Technologies, Inc (NASDAQ:XELA), on January 20, 2021, announced the expansion of a contract with a big global bank. The service offerings have been increased, which currently includes payment clearing, payment fraud detection, case management as well as mortgage payments.
This expansion also includes foreign payment processing, which would be subjected to complex international regulations and rules.
VitalieRobu, President of EMEA said that payment processing, more so foreign payments, need a level of sophistication both for a higher level of security as well as the timing of payments. Robu expressed gratitude to the bank for having confidence in its international payment solutions.
Exela has carried on expansion for processing across several global banks as part of the XBP platform offering. This need continues to evolve even as a business are becoming more global.
The company serves over 4,000 customers in about 50 countries, including 60% of the Fortune 100. Exela harnesses foundational technologies including workflow automation, information management as well as integrated communications and its services cover departmental solutions, multi-industry as well as legal management. Additionally, it gives industry-specific solutions for banking, insurance, healthcare, and legal management. With over 17,500 employees in 23 countries, the company is quickly deploying technology and becoming an end-to-end digital journey partner.
Technical Data
XELA stock is trading below the 20-Day and 50-Day Moving averages of $0.72 and $1.08 respectively. Moreover, the stock is trading below the 200-Day moving average of $1.83.
