AI Adoption in Finance: Why Trust Remains the Biggest Barrier to ROI

PEX has released new data highlighting a significant gap between the desire for AI integration in finance and its actual implementation. For fintech professionals, this reveals that while the technology is accessible, trust remains the primary barrier preventing widespread adoption, with only a fraction of firms reporting measurable returns on investment today.

What was announced

The report from corporate card and spend management platform PEX indicates that interest in artificial intelligence is currently outpacing execution across various business sizes and industries. Currently, only 31% of finance teams utilize AI in their daily operations, with a mere 9% using the technology broadly across their department. Even more striking is that only 5% of organizations report a measurable return on investment (ROI) from their AI initiatives, suggesting that the initial hype has yet to translate into widespread financial gains.

The findings suggest that finance professionals are particularly hesitant to grant AI autonomy over core functions. Only 28% of respondents expressed comfort in allowing AI to make routine financial decisions. Trust in the accuracy of AI outputs was identified as the leading barrier to expansion, cited by 36% of those surveyed. Overall, 51% of finance teams do not use AI at all, and 46% describe themselves as being in the earliest stage of maturity, while only 9% are considered scaling or advanced.

Despite these hurdles, the data shows that when AI is deployed, it delivers tangible operational benefits. Among teams currently piloting or using the technology, 69% have successfully reduced manual review processes, and 51% have shortened their financial close times. Adoption rates vary significantly by organization size; in companies with less than $10 million in revenue, AI usage sits at 21%, rising to 52% for organizations with over $250 million in revenue. However, larger organizations also report higher levels of discomfort, with 42% of the largest firms expressing unease regarding its application.

"Finance teams want to use AI, but trusting it is proving a much harder hurdle to jump."

Toffer Grant at PEX.

The companies involved

PEX is a corporate card and spend management platform that provides businesses with tools to control and track employee spending. Operating through its website at pexcard.com, the company focuses on delivering integrated financial solutions that streamline expense management and provide real-time visibility into corporate outlays. By offering specialized card programs and software, PEX serves a diverse range of organizations, from small businesses to large enterprises, aiming to replace traditional, manual expense reporting with automated, digital workflows.

The company is led by Toffer Grant, who serves as CEO and founder. Under his leadership, PEX has positioned itself as a key player in the spend management sector, competing in a market that increasingly demands sophisticated data analytics and automated oversight. The firm’s focus on the intersection of corporate credit and software-as-a-service (SaaS) reflects a broader trend in fintech where payment hardware is inextricably linked to back-office management tools. As the industry moves toward more data-driven decision-making, PEX continues to develop its platform to address the specific friction points found in modern corporate finance departments, particularly those related to spend control and auditability.

What FF News has reported before

FF News has previously tracked the growth of PEX within the competitive spend management landscape as the firm seeks to capture more of the mid-market and SMB sectors. In July 2026, the publication covered a significant milestone for the firm in the report PEX Secures $160M Investment to Scale SMB Spend Management and Charge Card Platform. This capital injection was aimed at scaling the company’s platform specifically for small and medium-sized businesses and expanding its charge card offerings. This investment underscored the market's confidence in PEX's ability to compete with larger incumbents by providing integrated financial tools that combine credit access with robust management software.

What this means

The data from PEX suggests that the "AI revolution" in finance is currently more of a slow evolution defined by skepticism. While the broader fintech industry has been saturated with AI-centric marketing, the actual penetration into core financial workflows remains shallow. The fact that trust is a bigger hurdle than access suggests that software providers may need to pivot their sales strategies from "capability" to "verifiability." This creates a period of vulnerability for legacy providers who fail to provide transparent AI models, while opening a window for niche players who prioritize auditability. The industry is now facing a "proof of value" phase where the novelty of AI is no longer sufficient to secure budget or autonomy. Organizations are clearly demanding more than just efficiency; they require accuracy that can be defended during an audit.