3i Infotech, a global provider of IT solutions, has completed its acquisition of JP Morgan’s national retail lockbox business (NRLB).
3i Infotech’s subsidiary, Regulus Group, is an outsourced remittance processing provider in the US and this acquisition is expected to further consolidate that position. The company expects that with the addition of the newly acquired sites, the value of the payments that Regulus processes exceeds $300 billion annually.
Kathy Hamburger, CEO and President of 3i Infotech, North America, said: “We have increased our ability to help companies reduce costs while achieving greater operational efficiency.”
3i Infotech is an Indian software products company. It provides software products and IT services to the Insurance, Banking, Capital Markets, Mutual Funds, Wealth Management and Government verticals.
US-based Regulus Group is the provider of outsourced billing and payment services.
