Truist Financial launches AI-powered receivables platform to unify payments and remittance

Charlotte rollout: Truist unifies payments and remittance with AI-powered receivables platform

Truist Financial launches an integrated receivables platform that uses artificial intelligence and machine learning to centralize payments and remittance data for commercial and corporate clients. Announced from Charlotte, N.C., the solution matches payments to invoices across checks and electronic rails, extracts remittance information from emails and payment files, and integrates with ERP and accounting systems to accelerate cash application and posting. The offering targets treasury and AP teams seeking faster, more consistent reconciliation and reduced manual intervention.

The platform emphasizes real-time automation to reduce exceptions and shorten days sales outstanding (DSO). Key features include smart remittance capture to improve data quality, AI-driven cash application that combines machine learning with configurable business rules to auto-match payments and remittance, and user entitlements and access management to lower fraud risk. Seamless ERP connectivity supports straight‑through processing while centralized KPI and auto‑match reporting provide the cash visibility and decisioning tools corporates require.

Truist positions the product as a cost and efficiency play for large receivables portfolios, saying automated reconciliation and exception management lower operating costs and free treasury staff for higher‑value work. “AI and automation bring simplicity, speed, safety and smarter experiences,” says Chris Ward, Truist Head of Enterprise Payments. The bank highlights centralized analytics and real‑time posting as ways clients can scale workflows without rebuilding existing systems; more information is available at Truist.com/Receivables.

Payments friction driving demand

Truist frames the launch against persistent industry frictions: 45% of CFOs report invoice errors that cause significant payment disruptions (AFP, Oct. 2024), 70% of corporate treasurers note delays in receivables collection and reconciliation (PYMNTS, Sep. 2023), and remittance processing can consume an average 6.3% of the total amount paid. Those figures underpin corporate demand for automation and clearer cash visibility, and mirror broader fintech trends toward embedding AI in treasury operations.

Deployment and client integration

Designed for simplicity, speed and safety, the platform integrates with existing treasury stacks so clients can adopt automated cash application without major ERP reconfiguration. Truist emphasizes enterprise controls, entitlement management and fraud prevention as differentiators for banks and large corporates that need secure, auditable receivables workflows. The offering reinforces Truist’s broader payments innovation push within corporate banking.