Bantec Signs Payment Processing Agreement with Exelon
BancTec, Inc. has signed a five-year business process outsourcing (BPO) agreement with Exelon Corp.. 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."
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