Frequently Asked Questions

Finexio is the leading provider of AP Payments as a Service, offering a fully managed, embedded accounts payable payments solution that optimizes, monetizes, and secures the entire B2B payment lifecycle. We handle 100% of our customers' eligible supplier payments, allowing finance teams to focus on strategic tasks.

Finexio is designed to be ERP and AP-agnostic and integrate into existing workflows with minimal IT resource requirements, however, there may be instances where some adjustments or additional time for change management are needed. We provide API, SFTP, and file drop integration methods to facilitate seamless data exchange. Before each new customer engagement, an implementation questionnaire is completed and reviewed with the customer to identify any specific considerations that may impact implementation or requirements.

Finexio eliminates manual AP payment processes, reducing costs and saving time. By moving to secure electronic payments, customers can help prevent fraud, gain visibility and control over payments, and even generate revenue from existing AP spend.

Suppliers receive faster and more secure payments through various electronic methods, including virtual cards sent by email, virtual cards sent by mail (“Card by Mail”), ACH, and FinexioExpress. They also gain peace of mind with 24/7 access to payment status and detailed remittance information via the Finexio Portal.

How does Finexio ensure accuracy in supplier-buyer transactions and relationships?

Finexio employs robust security measures to ensure the accuracy and security of all transactions. These include:

• Know Your Customer (KYC): Verifying the identity of buyers to prevent fraud and ensure compliance with regulatory standards.
• Account Validation Services (AVS): Using advanced technology to verify supplier bank account details, ensuring payments are directed to valid, authorized accounts. AVS reduces errors and mitigates the risk of fraudulent account changes. AVS is done by Finexio as a normal course of business when Finexio is managing supplier enrollment in ACH.
• Real-time Transaction Monitoring: Continuously analyzing transaction activity to detect and respond to potential fraud or anomalies in real time.
• Third-party Validation Services: Leveraging trusted third-party providers to confirm company information and bank account details, adding an extra layer of accuracy and security to supplier-buyer relationships.

Finexio analyzes customers' supplier lists using AI and data analytics to determine the optimal payment method for each supplier. Our technology leverages internal and external data to predict supplier payment preferences, enabling industry-leading electronic payment adoption.

By employing automation technology and AI, Finexio streamlines payment processes, reducing manual work and associated costs. Our partnerships with financial institutions and our extensive supplier network further enable cost-effective electronic payment solutions.

Implementation of Finexio's services involves close collaboration with your team to integrate with your existing accounting or ERP system. While Finexio’s team manages most of the setup to minimize the workload on your IT resources, we do ask for a technical representative from your organization to participate in onboarding calls. This ensures alignment, facilitates a smooth transition, and allows us to tailor the solution to your unique workflows for optimized payment processes.

Yes, Finexio's infrastructure is hosted within Amazon's secure data centers, utilizing AWS technology. We have implemented the latest industry security standards and adhere to strict compliance requirements, including ISO 27001, SOC 1 and SOC 2, and AML/KYC screening, ensuring the highest level of security for your payment processes.

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