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This Week in B2B: Financial Infrastructure Innovation Gets its Due
- Businesses are turning to advanced tools and technologies that promise to eliminate inefficiencies, reduce costs and enhance their ability to adapt to market changes.
- Companies can reduce administrative overhead and speed up cash flow cycles by digitizing invoicing and payment workflows, improving the operational efficiency with financial infrastructure innovation.
- FISCAL Technologies and Proservartner have collaborated to reduce payment errors, supplier fraud and inefficiencies within procure-to-pay (P2P) processes, with their AI-driven forensic software and expertise in process automation offered in consultancy services.
- SoFi Bank becomes Mesh Payment's sponsor bank to integrate Mesh Payments expense and card infrastructure with Galileo Financial Technologies customizable API-based payments processing platform.
- FlexPoint, a payment technology company, has launched an AI-powered system that processes ACH payments processing in the same day, connecting to the Federal Reserve’s FedNow Service infrastructure.
- Mynt, a spend management solution for Nordic small-to-medium-sized businesses (SMBs), raised 22 million euros ($23 million) in a Series B funding round to help its next phase of growth and expansion into the UK and other European markets.
- Intuit’s QuickBooks is now Amazon’s preferred partner for financial management solutions integrated directly into its site to help Amazon sellers manage their finances and grow their businesses.
- Financial platform Loop and EQ Bank launched the Loop Global Visa Card to enable SMBs to spend and settle credit balances in multiple currencies.
- A PYMNTS Intelligence report reveals that companies plan to increase their use of virtual cards for managing economic uncertainty, unplanned expenses and financial flexibility.
- Although AI is emerging as a force in procurement, data quality is one critical factor that can be overlooked by firms rushing to implement the latest technology.
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