Finexio Partners With Cass Information Systems, Inc. to Serve Rapidly Growing B2B Payment Market
ORLANDO, Fla., January 3, 2019 (Newswire.com) - Finexio, the smart B2B payment network, today announced it has partnered with Cass Information Systems, Inc. (NASDAQ: CASS) to provide sophisticated financial exchange services to Finexio and its clients. These services, which are supported by Cass subsidiary Cass Commercial Bank, include funds management, transaction processing, ACH and check processing, and financing solutions. This partnership leverages Cass’ 110 years in business and 60-year history in B2B payments, as well as its annual processing volume of $50 billion.
“The B2B payments business and our sophisticated customers require reliability, visibility, and strict controls,” shared Finexio CEO, Ernest Rolfson. “Our partnership with Cass, an information processing and financial holding company with considerable experience in routing and handling B2B payments, provides Finexio and our customers access to a Federal Reserve member bank with a comprehensive suite of compliance and fraud detection tools.” Rolfson added, “In working together, Finexio and Cass combine to offer a best-in-class B2B payments execution solution with the financial security that our customers demand.”
“We have known and worked with the team at Finexio for several years on a number of complex B2B payment solutions. In partnering with Finexio, we were most impressed by their ability to create efficiencies in B2B payments where middle market enterprises experience the most pain,” said Cory Bricker, head of Cass’ Integrated Financial Solutions group.
Added Rolfson, “Finexio continues to enhance its robust B2B payments execution and delivery capabilities. Through this partnership with Cass, Finexio solidifies its offering of comprehensive supplier payments while providing the trust and safety of the banking system to customers, enabling customers’ financial executives to focus on their core business, while we manage their payments.”
Finexio’s intelligent payment network fills a critical need in the business to business landscape, enabling companies to transition from traditional and inefficient paper check payments toward electronic, cost-saving payment methods.
Finexio’s comprehensive AP “Payments as a Service” solution identifies the optimal payment acceptance method for all suppliers and leverages proprietary analytics and AI tools to generate maximum conversion rates of suppliers to electronic payments. Finexio’s intelligent payment network identifies, delivers, and supports ten forms of payment, generating revenue and cost savings for AP departments while offering complete transparency and control of the payment process. To learn more, visit Finexio’s website at https://finexio.com.
Cass Information Systems, Inc. is a leading provider of integrated information and payment management solutions. Cass enables enterprises to achieve visibility, control and efficiency in their supply chains, communications networks, facilities and other operations. Disbursing over $50 billion annually on behalf of clients, and with total assets of $1.5 billion, Cass is uniquely supported by Cass Commercial Bank. Founded in 1906 and a wholly owned subsidiary, Cass Bank provides sophisticated financial exchange services to the parent organization and its clients. Cass is part of the Russell 2000®.