PaymentWorks

PaymentWorks provides a cloud-native, secure vendor master management platform that streamlines and safeguards vendor onboarding, compliance, and payment processes. The platform brings intelligent credentialing to ERP systems data, serving treasury, accounts payable, procurement, and external vendors with automated data collection, validation, and updated vendor records.

The PaymentWorks network has more than 1.4mm credentialed payees and adds 35,000 new payees monthly. The platform, including a standard $2mm fraud indemnification, has intercepted $181mm of attempted fraudulent payments to date. The company has co-marketing agreements with J.P. Morgan, Wells Fargo, U.S. Bank, and PNC. It is a preferred loss-control partner of Chubb, which offers excess supplemental insurance for customers above the $2mm indemnification.