SAP Fioneer Revolutionizes Payments with AI-Powered Virtual Account Management at Pay360

SAP Fioneer, a leading global provider of financial services software,  today announced a significant advancement in its Virtual Account Management (VAM) solution, unveiling plans for AI-driven enhancements that will redefine the future of banking payments. This  announcement, made at the prestigious Pay360 event in London, marks a pivotal moment in the  industry’s journey towards intelligent, streamlined treasury operations. 

SAP Fioneer’s VAM solution has already empowered banks to modernize and centralize their  payment infrastructures, offering unparalleled visibility and control over transactions. By eliminating  the complexities of traditional account structures, VAM simplifies reconciliation, enhances cash  management, and delivers a superior customer experience. 

Building on this foundation, SAP Fioneer is set to roll out a groundbreaking update to VAM,  integrating cutting-edge Artificial Intelligence capabilities as well as further additional enhancements. Amongst others, this will enable: 

Automated Reconciliation: AI-powered recommendations and automation will significantly reduce  manual effort, accelerating reconciliation processes and minimizing errors 

“In today’s fast-paced digital landscape, banks need payment solutions that are not only  efficient but also intelligent,” said Anna Koritz, Global Head of Transaction Banking at SAP  Fioneer. “Our enhanced VAM solution, infused with AI, represents a paradigm shift in  payment management, offering banks the tools they need to stay ahead of the curve. At  Pay360, we are excited to highlight how our technology is driving the future of payments.” 

SAP Fioneer’s commitment to innovation and its deep understanding of the financial services  industry position it as a key player in the evolution of payments and cash management. The  company’s presence at Pay360 underscores its dedication to delivering transformative solutions that  address the evolving needs of banks worldwide.