Finexio Shield: Secure Your B2B Payments With Unparalleled Fraud Protection

ORLANDO, Fla., June 25, 2024 (Newswire.com) - Finexio, the fast-growing Accounts Payable (AP) Payments as a Service company, introduces Finexio Shield, a revolutionary solution designed to secure B2B payments with unmatched fraud protection. Finexio, with this “first in the industry” product announcement, is addressing a major gap in the B2B payments market by delivering a solution that is both powerfully advanced at preventing fraud and equally as powerful in optimizing and delivering efficient supplier payments.

In 2023, an alarming 80% of companies were targeted by payment fraud, marking a significant increase from the previous year. Finexio Shield responds to this surge by providing a superior supplier identity and bank account validation solution that eliminates fraud risk and liability for payments to suppliers. End users of the Finexio service who opt into Finexio Shield can confidently process all their electronic payments through the Finexio platform and be free from the reputational harm and financial pain of fraud losses.   

According to The Association for Financial Professionals (AFP), 41% of victimized organizations failed to recover more than 75% of their funds, while 30% recovered nothing. The repercussions extend beyond financial loss, causing severe reputational damage, supply chain disruptions, and burdensome recovery costs. The cost of a single fraudulent payment can be devastating to any business.

Ernest Rolfson, CEO of Finexio, emphasized, “Outdated security measures are futile against today’s sophisticated fraudsters leveraging AI deepfakes and spear phishing attacks that prey on businesses managing suppliers and payments by hand. Finexio Shield changes the game by preventing and taking on fraud risk by meticulously vetting suppliers and their bank accounts, ensuring CFOs and their AP teams can operate with absolute confidence.” Added Rolfson, “Leading global Accounts Payable Procure to Pay partners choose Finexio in large part due to our investments in software and process automation to help grow payments as a service, a valuable capability that only grows in value the safer we can keep end users and their suppliers from fraud risk.”

This unique market-leading fraud “plus payments” initiative showcases Finexio’s strong culture of innovation that directly impacts the bottom line for its partners and customers. For more information, visit finexio.com/shield.

About Finexio

Finexio, an innovative leader in the B2B payments industry, delivers Accounts Payable (AP) Payments as a Service embedded in the world’s leading Accounts Payable Procure to Pay software suites. Finexio offers the only fully managed AP B2B payments solution that leverages AI to optimize, monetize, and secure the entire payment lifecycle. Finexio’s infrastructure as a service provides payment delivery and orchestration, supplier management, fraud prevention, payment monetization, and robust payment reporting and analytics. This unique combination of technology and service enhances operational efficiency, payment security, and customer satisfaction for Accounts Payable Procure to Pay partners and corporate clients.

Learn more at the Finexio website and follow us on LinkedIn.

Media Contact:  
Tracie Poland 
VP of Marketing  
[email protected]

Source: Finexio