Truist launched an AI-enabled integrated receivables platform today aimed at helping commercial and corporate clients speed up cash application, reduce manual work and improve visibility into incoming payments.

The new solution uses AI and machine learning to match payments to invoices across checks and electronic payment rails, unifying payment and remittance data in one system, according to the $548 billion bank’s release. Truist said the platform centralizes receivables, accelerates posting and minimizes exceptions while strengthening access and fraud controls.

“Our new integrated receivables solution reflects Truist’s purpose-driven commitment to solving real client challenges,” Chris Ward, head of enterprise payments, said in the release. “AI and automation bring simplicity, speed, safety and smarter experiences.”

Ward will speak Tuesday, March 3, at 2:15 p.m. local time at the FinAi Banking Summit in Denver. Register here for the inaugural event. View the full event agenda here. 

Designed to integrate with existing enterprise resource planning and accounting systems, the platform automates reconciliation and exception management, helping clients reduce operating costs and shorten posting times, according to the bank. The system also captures remittance data from emails and incoming payments, improving data quality and reducing errors.