Paytech company Transcard has enhanced its vendor network management solution, SMART Exchange, with the integration of generative and agentic artificial intelligence (AI) capabilities.
This move is aimed at transforming the way buyers and suppliers interact and manage payments in the B2B sector.
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The solution now digitally connects and streamlines payment interactions between parties of all sizes, with a focus on modernising B2B payments.
The AI capabilities are designed to automate the onboarding and KYB process, allowing businesses to convert their existing networks and automate enablement.
For buyers, this technology replaces the need for call centres for vendor onboarding, supporting onboarding with an automated AI-powered solution.
It also facilitates the maintenance of vendor information and payment instructions.
The solution integrates with ERP or systems of record, providing near real-time updates and data synchronisation.
For suppliers, it offers onboarding process through a supplier portal, enabling them to validate business information, select payment preferences, and manage historical transactions and documentation.
Additionally, suppliers can access to early financing options to enhance their cash flow.
SMART Exchange’s AI capabilities provide users with data insights, recommendations on trends and opportunities to optimise cash flow and automate manual tasks.
Transcard CEO Greg Bloh said: “I’m excited about the modern enhancements and agentic AI capabilities we are adding to our SMART Exchange payment solution. The new streamlined onboarding process and dedicated portals are set to revolutionize how businesses interact, pay, and manage their vendors. We crafted these enhancements to address the struggles daunting buyer and supplier payments today and we’re excited to provide our customers with a modern, digital B2B solution powered by AI.”
The solution is part of Transcard’s SMART Suite family, which delivers embedded payment solutions that can be integrated within a customer’s ERP or core system.
The suite supports various payment functions, including disbursements, receivables, account-to-account, cross-border payments, AI insights, and supply chain financing.
This January, Transcard made its debut in Canada, onboarding Xodus Travel Services as its first customer in the region.
This expansion includes the integration of local payment rails and support for Canadian French across its solutions.
