Transcard Turns to Agentic AI to Streamline B2B Payments
Payments technology firm Transcard has added agentic AI capabilities to its vendor network management solution.
The changes to the company’s SMART Exchange are designed to streamline payment interactions between buyers and suppliers, with agentic artificial intelligence (AI) automating onboarding and know your business (KYB), according to a Tuesday (April 1) press release.
“The new streamlined onboarding process and dedicated portals are set to revolutionize how businesses interact, pay, and manage their vendors,” Transcard CEO Greg Bloh said in the release.
“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.”
According to the release, the new SMART Exchange makes it easier for businesses to convert their networks and fully automate enablement.
“Replacing the days of call centers and back-office constraints to onboard and update vendor information, the AI-powered solution delivers the following benefits to buyers and suppliers,” the company said.
Transcard’s announcement arrives at a time when AI agents are taking on more responsibility in the B2B world, as PYMNTS wrote earlier this year, transitioning from assistants to key players in B2B processes.
For instance, these agents are taking over customer service and operations at major companies, as covered here November.
These agents can navigate complex business processes independently and use capabilities beyond basic chatbots, handling things like automating order management, scheduling appointments and loyalty promotion.
“After all, in the B2B space, relationships matter. Gone are the days of one-size-fits-all interactions,” that report said. “Today’s customers expect personalized, high-touch experiences, even from the businesses they engage with. Agentic AI systems are increasingly able to learn about individual customer preferences, anticipate their needs, and offer tailored solutions — without the need for human intervention.”
More recently, PYMNTS examined how AI agents can help chief financial officers (CFOs) and treasurers foster greater growth.
“Within the space of the office of the CFO and accounts payable, that’s where GenAI may be most transformative,” Alex Hoffmann, general manager of North America at Edenred Pay, told PYMNTS in an interview.
“Do I want a central AI tool analyzing all systems? Or do I want AI embedded within key financial platforms like AP and ERP?” Hoffmann posed in a separate discussion. “The answer isn’t obvious, but it’s a crucial decision for CFOs.”
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