HighRadius Partners with Confirmation to automate Bank References across 1000+ banks
HOUSTON — September 05, 2019 — HighRadius, a fintech enterprise Software-as-a-Service (SaaS) company specializing in automating the order-to-cash and treasury management processes, today announced a partnership with Confirmation, now part of Thomson Reuters, a leading online provider of bank reference automation. This partnership allows credit managers using the HighRadius Online Credit Application to connect with Confirmation’s existing global network of over 1,000 banks, including 50 of the top 100.
“Integrating Confirmation’s bank reference technology into the HighRadius Credit Cloud enables HighRadius to automate the credit process for online credit applications,” says Sayid Shabeer, Chief Product Officer at HighRadius. “I’m excited about the positive impact this partnership brings to the market.”
Business credit managers use Confirmation to drive efficiency, increase automation and improve accuracy in processing bank reference requests. Additionally, Confirmation allows business credit managers to standardize requests and archive responses electronically while allowing financial institutions to comply with regulatory standards and increase productivity.
“This partnership will allow us to expand our credit inquiry solution to new markets,” said Mark Portanova, Vice President of Sales for the Americas. “We will enhance workflows, reporting capabilities and client authorization processes within the HighRadius platform. These measures will progress the traditionally slow, manual and time-consuming credit approval processes, enabling the use of Online Credit Applications as an expedited solution.”
As both companies continue to explore and innovate new ways to automate the credit process, this integration offers enormous benefits to their mutual customers and marks an important development for the broader credit management software market.
Confirmation, now part of Thomson Reuters, is the digital platform and global network trusted by audit firms, banks, law firms, and credit managers to quickly and securely verify financial data. Confirmation invented electronic confirmations nearly 20 years ago and continues to bring innovative products to market like its credit inquiry solution. Today, Confirmation helps 1.5 million users across 170 countries confirm more than $1 trillion in financial data every year. To learn more, please visit www.confirmation.com
About HighRadius Corporation
HighRadius is a Fintech enterprise Software-as-a-Service (SaaS) company which leverages Artificial Intelligence-based Autonomous Systems to help companies automate Accounts Receivable and Treasury processes. The HighRadius® Integrated Receivables platform reduces cycle times in your order-to-cash process through automation of receivables and payments processes across credit, electronic billing and payment processing, cash application, deductions, and collections. HighRadius® Treasury Management Applications help teams achieve touchless cash management, accurate cash forecasting, and seamless bank reconciliation. Powered by the Rivana™ Artificial Intelligence Engine and Freeda™ Digital Assistant for order-to-cash teams, HighRadius enables teams to leverage machine learning to predict future outcomes and automate routine labor-intensive tasks. The radiusOne™ B2B payment network allows suppliers to digitally connect with buyers, closing the loop from supplier receivable processes to buyer payable processes. HighRadius solutions have a proven track record of optimizing cash flow, reducing days sales outstanding (DSO) and bad debt, and increasing operational efficiency so that companies may achieve strong ROI in just a few months. To learn more, please visit www.highradius.com