Unimarket to Launch Innovative Payment Risk Score (PRS) to Combat Payment Fraud

New Payment Risk Assessment and Management Tool Offered in Partnership with Finexio

Annapolis, MD – September 11, 2024 – Unimarket, a leading provider of spend management solutions, in partnership with Finexio, is excited to announce the launch of the Payment Risk Score (PRS) — a revolutionary tool designed to tackle the growing threat of payment fraud. This first-of-its-kind solution empowers enterprises to assess and manage payment risks like never before, significantly enhancing their Enterprise Risk Management (ERM) strategies.

Payment fraud is at an all-time high, with 80% of organizations facing fraud attempts in the past year, according to the 2024 AFP Payments Fraud and Control Survey. Traditional risk management methods are increasingly inadequate in addressing the evolving landscape of payment fraud. Unimarket’s Payment Risk Score provides a groundbreaking solution by quantifying the risk of various payment methods, from checks to virtual cards, allowing enterprises to fortify their financial safeguards.

“Payment fraud costs businesses billions of dollars globally each year, posing a significant threat to their financial integrity,” said Darren Blakely, Chief Revenue Officer of Unimarket. “Through our partnership with Finexio, Unimarket’s Payment Risk Score (PRS) gives organizations a powerful tool to identify and measure vulnerabilities in their payment processes, enabling them to proactively mitigate risks and protect their financial assets.”

“Payment fraud is an ever-present and evolving threat that demands more than just reactive measures,” added Chris Wyatt, Chief Strategy Officer at Finexio. “The Payment Risk Score (PRS) equips enterprises with the actionable insights needed to shift from defensive to offensive risk management, enhancing security and operational efficiency across their payment processes.”

Unimarket’s Payment Risk Score addresses critical financial risks by offering a quantitative assessment of risk levels across various payment methods, including checks, ACH transfers, virtual cards, and wire transfers. By integrating PRS into their ERM frameworks, organizations can transition from traditional risk management to a more advanced, proactive approach, bolstering both security and operational efficiency.

The introduction of the Payment Risk Score (PRS) by Unimarket, in partnership with Finexio, represents a significant advancement in payment risk management. It provides organizations with a powerful tool to safeguard financial assets, ensure compliance, and drive operational efficiency in today’s complex digital landscape. Unimarket customers now have access to a solution that not only enhances risk management but also supports overall business resilience.

To evaluate your organization’s Payment Risk Score (PRS) and explore solutions to optimize your payment processes, visit Unimarket.com or contact our team at hello@unimarket.com. 

About Finexio

Finexio is a trailblazer in the B2B payments industry, pioneering an innovative Accounts Payable Payments Infrastructure as a Service model. Embedded within the world's leading Procure-to-Pay software suites, Finexio's platform delivers a fully managed, AI-powered solution that optimizes, monetizes, and secures the entire payment lifecycle. Our comprehensive infrastructure seamlessly orchestrates payment delivery, streamlines supplier management, prevents fraud, enables payment monetization, and provides robust analytics and reporting. This unique approach transforms AP from a traditional cost center into a strategic revenue generator. Learn more at Finexio.com and follow us on LinkedIn.