Trustmi Enhances AI-Powered Payment Flows Module to Prevent Human Errors and Fraud

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Mar 19, 2024, 09:00 ET

Enhancements proactively detect all common human errors earlier in the payment process to safeguard funds from erroneous activity and financial losses

NEW YORK, March 19, 2024 /PRNewswire/ -- Trustmi, the leader in business payment security, today introduced enhancements to its Payment Flows module to address a critical pain point for finance practitioners. Trustmi has extended the logic of the Payment Flows module from fraud prevention to proactively and comprehensively detect all common human errors earlier in the business payment process to ensure funds are accurately accounted for, and vendors are paid the right amount on time.

Finance teams use disparate systems with siloed information and incomplete visibility, leading to slower manual processes. Attackers are using these blind spots and vulnerabilities to steal billions of dollars. At the same time, legacy technologies cannot keep pace with the number of vendors and suppliers, the number of payment cycles, and the volume of business transactions. This results in costly human errors, such as duplicate payments, lost invoices, data entry errors, incorrect payments, and other mistakes. These errors impact an organization's bottom line and ability to meet compliance.

Trustmi's enhanced Payment Flows module builds on its leading B2B payment security capabilities, which eliminate fraud from business payments and human errors that can create vulnerabilities that lead to additional fraudulent activity. With the latest version, Payment Flows extends full protection against human errors, maximizing efficiency and providing finance teams with automated, end-to-end visibility of their payment approval workflow, including invoices, vendors, and internal approvals at every step across the approval chain.

With advanced AI technology, this module enables finance teams to detect and prevent human errors and fraudulent transactions earlier in the payment approval workflow. As a result, the module safeguards funds from erroneous activity, ensuring businesses avoid significant financial loss while simultaneously reducing time to vendor payment and improving payment accuracy. The Payment Flows module also incorporates compliance controls into the organization's payment cycles and approvals process, simplifying compliance reporting and easing the burden of audits later.

"Trustmi's enhanced Payment Flows module streamlines the entire payment workflow and detects all common human errors earlier and faster by leveraging automation and AI technology," said Shai Gabay, CEO and co-founder of Trustmi. "This gives organizations amplified visibility and security required to navigate their highly complex payment approval workflows with confidence. Payment Flows uncovers human errors and vulnerabilities across the approval workflow to protect organizations from making expensive mistakes and experiencing unexpected losses."

With global visibility of all payments, full automation of manual processes, fraud detection and prevention, and auditing and compliance capabilities, Trustmi's AI-powered Payment Flows module enables customers to avoid losses and protect their funds. For more information, visit Trustmi's Payment Flows. To view a demo, visit Trustmi.ai.

About Trustmi

Trustmi is the only end-to-end payment security solution that helps businesses protect their bottom line by eliminating losses from cyberattacks, internal collusion, and human error. Trustmi's flexible and modular solution offers businesses complete control to use only the tools they need for securing their payment processes and managing their vendors. Founded in 2021 by Shai Gabay and Eli Ben Nun, Trustmi is headquartered in Tel Aviv with an office in New York City. For more information, visit https://www.trustmi.ai/.

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Michelle Baum for Trustmi
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SOURCE Trustmi