Ardent’s P2P Technology Round-Up returns today with another assortment of ePayables, procure-to-pay (P2P), and B2B payment solution provider news and updates from the past week. If you are an Accounts Payable (AP), B2B payments, or spend management solution provider and you have news to share with us, please drop us a note at editor at cporising dot com. Thanks, and enjoy!
AvidXchange Partners with HomeTrust Bank on AP and Payment Automation
AvidXchange, the North Carolina-based provider of invoice automation and payment processes for mid-market companies, recently announced a new multi-year partnership with HomeTrust Bank, to bring Avid’s AP and payment automation solutions to HomeTrust customers. HomeTrust, which offers treasury solutions to mid-market customers, and is based in Asheville, North Carolina, will be able to add to its offering by providing customers access to AvidXchange’s AP and payment automation tools. AvidXchange gains a financial institution partner and will be able to bring its solutions to HomeTrust’s growing treasury customer base.
Corcentric Joins Blockchain in Transport Alliance
Corcentric, a provider of financial process automation solutions with corporate headquarters in New Jersey, recently announced that it has joined Blockchain in Transport Alliance (BiTA), an organization that helps to promote the development and adoption of blockchain applications within the transportation, trucking, and logistics industries. By joining BiTA, Corcentric positions itself to invest in blockchain technology. BiTA’s mission is to provide direction for the development of blockchain technology for the trucking industry. Blockchain technology enables enterprises to share value and data across organizations in a seamless and secure manner.
MasterCard Develops Artificial Intelligence Service for Businesses
Earlier this month, global card provider, MasterCard, announced the launch of AI Express, a new artificial intelligence (AI) model that will help companies answer business questions in real time. The AI Express program was designed to help companies address many key business priorities like anti-money laundering, fraud risk management, cyber security, and credit risk prediction. In 2017, MasterCard announced the acquisition of Brighterion, Inc., a software company that specialized in artificial intelligence. The release of AI Express is an example of how that acquisition is helping MasterCard play a more active role in accelerating the adoption of AI and machine learning through its platform. The AI capability is built into the security strategy of the MasterCard network to detect and manage fraud. MasterCard customers are now about benefit from this advanced AI capability through AI Express.
Divido Brings B2B Finance Solution to Point-of-Sale
Divido, a retail finance platform provider with headquarters in London and offices in the US and Germany, recently announced the launch of a new B2B finance solution for its business customers at the point-of-sale. Providing an alternative finance option that allows businesses to make invoice payments in installments, frees up capital and will provide Divido customers with greater control over cash flow. Customers will be able to access the platform at check-out, and select Divido for a quick approval process. A credit decision is then made in real-time. Once the agreement has been accepted, the retailer gets paid in full upfront while the customer enters into a 12 month loan agreement with the lender. This multi-lender, multinational platform will initially be made available to retailers that sell to businesses in the UK, Germany, Poland, Sweden, Norway, Finland, and Denmark, with plans to add more European countries in the years ahead.
DHL Develops Global Blockchain Trade Finance Platform with TradeIX
Also last week, DHL, the Germany-based logistics and postal services company, announced at the Money20/20 conference in Amsterdam its partnership with the global Blockchain trade finance platform, TradeIX, to drive efficiency and transparency into global supply chains. Under the terms of the partnership, DHL will leverage TradeIX’s trade finance platform to embed funding and risk mitigation capabilities within the platform in order to drive automation, efficiency, transparency, and visibility into previously opaque business processes, joining FedEx in its development of Blockchain-based trade platforms.
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