Crater Unveils Groundbreaking AI-Driven AR/AP Automation, Payments workflow automation and Universal Payments API for B2B Platforms and Financial Institutions at Money 20/20

DOWNEY, Calif., Oct. 29, 2024 /PRNewswire/ -- Crater, a leading innovator in financial technology, today announces the launch of several advanced AI-driven solutions designed to streamline financial operations for B2B platforms, banks, and credit unions. The new offerings include an AI-powered Accounts Receivable/Accounts Payable (AR/AP) automation, payments workflow automation, and a Universal Payments API, all aimed at enhancing financial efficiency and simplifying payment processes for enterprises and financial institutions.

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Crater's new AR/AP automation solutions provide banks, credit unions, and B2B platforms with the tools to offer fully white-labeled, embedded AR/AP products like invoicing and bill payment, customized to their brand identity. Utilizing Crater's flexible APIs and SDKs, financial institutions can quickly deploy these automation products, bringing clients powerful features that were once resource-intensive to develop.

An AI-powered copilot offers an intuitive interface for users, able to take direct actions such as managing invoices, scheduling bill payments, and generating essential financial reports. This automated, intelligent assistant not only reduces operational burdens but also significantly improves the speed and accuracy of financial processes.

With the new payments workflow automation feature, Crater helps businesses eliminate time-consuming, repetitive tasks in their payment operations. Clients can now automate essential processes like creating and managing invoices, onboarding businesses, and scheduling payments. This enhancement allows enterprises to focus more on growth while Crater's automated systems handle complex payment workflows seamlessly.

Crater's Universal Payments API further simplifies the payment process by enabling clients to integrate with major payment networks such as Stripe, Finix, WorldPay, and Plaid, without the need for complex custom coding. By making a single-word change in their codebase, platforms can access multiple payment providers through Crater's API, which adapts to each provider's unique workflows and requirements, thereby significantly reducing time-to-market and technical hurdles.

"Crater's new AI-driven products empower businesses to embrace full-scale automation across AR/AP and payments workflows, enhancing operational efficiency and providing seamless multi-network integration," said Nikhil Pathak, CEO at Crater. "These advancements mark a pivotal step toward more intelligent, adaptable financial automation."

For more information on Crater's suite of AI-powered solutions, visit our website.

Contact:
Nikhil Pathak
[email protected]
347-668-3652
Crater

SOURCE Crater Invoice, Inc.