Transcard Revolutionizes B2B Payments with Agentic AI Integration

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On Wed, 2 Apr, 12:01 AM UTC

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Transcard unveils agentic AI capabilities in its SMART Exchange solution, streamlining B2B payments and vendor management processes. The update promises to automate onboarding, enhance user experience, and optimize cash flow for businesses.

Transcard Introduces Agentic AI to Revolutionize B2B Payments

Transcard, a leading payments technology firm, has unveiled a significant upgrade to its SMART Exchange solution, incorporating agentic artificial intelligence (AI) capabilities. This enhancement aims to streamline and modernize B2B payment processes, addressing longstanding challenges in vendor network management and payment interactions between buyers and suppliers 1.

Key Features of the Enhanced SMART Exchange

The updated SMART Exchange solution offers several innovative features:

  1. Automated Onboarding: The agentic AI automates the onboarding process and Know Your Business (KYB) procedures, significantly reducing the time and effort required to integrate new vendors 2.

  2. Streamlined Network Conversion: Businesses can now more easily convert their existing networks and fully automate enablement, replacing traditional call centers and back-office constraints 1.

  3. AI-Powered Insights: The platform includes built-in data-rich generative AI and agentic AI capabilities, providing users with proactive recommendations on trends and opportunities to optimize cash flow and automate manual tasks 1.

Benefits for Buyers and Suppliers

The AI-powered solution offers distinct advantages to both buyers and suppliers, although specific details were not provided in the sources. Greg Bloh, Transcard CEO, emphasized that these enhancements were crafted to address the challenges plaguing buyer and supplier payments today 2.

Broader Impact on B2B Payments Landscape

Transcard's integration of agentic AI into its SMART Exchange solution reflects a growing trend in the B2B payments sector. AI agents are increasingly taking on more responsibility, transitioning from mere assistants to key players in complex business processes 2.

AI's Role in Financial Operations

The adoption of AI in financial operations extends beyond payment processing. Chief Financial Officers (CFOs) and treasurers are exploring ways to leverage AI for fostering greater growth. Alex Hoffmann, general manager of North America at Edenred Pay, suggests that generative AI could be most transformative within the office of the CFO and accounts payable 2.

Future Considerations

As businesses integrate AI into their financial systems, important decisions lie ahead. CFOs must consider whether to implement a central AI tool analyzing all systems or embed AI within key financial platforms like AP and ERP. This choice will significantly impact how companies manage their financial operations and vendor relationships in the future 2.

Transcard's SMART Exchange, part of its SMART Suite family of embedded payment solutions, continues to evolve, offering features such as disbursements, receivables, account-to-account payments, cross-border payments, AI insights, and supply chain financing. These advancements signify a major step towards modernizing B2B payment processes and achieving operational efficiencies while delivering an enhanced payment experience 1.

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