Truist Financial Corp. announced a new integrated receivables platform that uses AI and machine learning to help commercial and corporate clients simplify receivables and improve cash visibility. The solution matches payments to invoices across checks and electronic rails, unifies payment and remittance data, and accelerates cash application activity.
Centralizing receivables and leveraging real-time automation, the platform accelerates posting, reduces manual work and exceptions, and strengthens access and fraud controls. Designed for simplicity, speed, and safety, it integrates with existing systems so clients can streamline workflows and scale as their needs evolve.
"Our new integrated receivables solution reflects Truist's purpose-driven commitment to solving real client challenges," said Chris Ward, Truist Head of Enterprise Payments. "AI and automation bring simplicity, speed, safety and smarter experiences — reinforcing why clients choose Truist as we transform how money moves."
This launch reflects Truist's commitment to practical payments innovation that reduces complexity and delivers measurable value. By bringing together payments, remittance data, and reconciliation in one platform, Truist enables businesses to manage incoming payments more efficiently.
Integrated Receivables: Features and Benefits
- Efficiency & cost reduction: Automates reconciliation and exception management, scaling with business growth to reduce operating costs
- AI-driven cash application: ML and business rules auto-match payments to invoices and remittance, cutting manual work, shortening posting time and reducing days sales outstanding (DSO)
- Security & control: User entitlements and access management help reduce fraud risk
- Smart remittance capture: Extracts remittance from email and incoming payments to improve data quality and minimize exceptions
- Seamless ERP connectivity: Integrates securely with leading ERP and accounting systems for straight-through processing
- Real-time analytics & reporting: Centralized, KPI and auto-match reporting for reliable decision-making