EXECUTIVE INSIGHT
As our outreach efforts drive greater and greater conversion to digital payments, that data is fed back into our model so that it’s continuously refined and machine learning continues to enhance conversion accuracy. We benchmark every single client, every single campaign and new suppliers added midyear. We analyse and leverage that data to ensure we’re performing against what the model predicts. That in turn helps us continuously improve our supplier conversion model.
We share our performance with our partners. If adoption rates are lagging versus predictions, we analyse the data together to diagnose the root cause. If there’s anything that’s off, we need to discuss together why it’s off. If a university has new suppliers coming in, we can determine where and how we can improve adoption. Is it the company? Is it us? Is it the supplier base? Is it process-related?. Those conversations are how we refine strategies for better outcomes, ensuring continual improvement and ongoing success. That’s a big part of our culture.
Q. COMPANIES ARE TALKING ABOUT MOVING PEOPLE ONTO VIRTUAL CARDS. I UNDERSTAND THAT YOUR WORK IS BEATING THE INDUSTRY STANDARD BY ABOUT TWO OR THREE TIMES. HOW ARE YOU DRIVING VIRTUAL CARD ADOPTION ACROSS SUPPLIERS?
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We’re very proud of this. Finexio absolutely leads the payments industry in card adoption, which is one key reason
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April 2025EXECUTIVE INSIGHT
“We’re now 93% accurate in our predictive capability around how suppliers would like to be paid and set up”
ERNEST ROLFSON,CEO & FOUNDER , FINEXIO
that led J.P. Morgan Chase – the best and biggest bank in the United States – to be our major partner and our largest investor.
I think that’s because we have an unparalleled ability in prediction, which we’ve just been talking about. We’re very focused and committed to this area. Why? Because virtual cards are the most secure, reliable and predictable payment method. They have the least amount of friction in enrollment. For businesses, they offer the lowest cost of ownership, reducing AP overhead and minimising fraud risks. And it generates revenue because the suppliers are opting for all the conveniences that our AP Payments as a Service provides and the added security, efficiency and faster payments that virtual cards provide, which methods like ACH and cheques do not offer.
By having very strong commitment, a very superior product, by educating suppliers and buyers on these benefits
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