Question: Is there an AP automation tool that uses AI and machine learning to detect potential fraud and enforce policies?

Medius has a broad suite of AP automation software designed to lower the risk of fraud and improve visibility into cash flow. The software automates invoice capture, processing and payment, and has features like payment automation, fraud and risk detection, and AI assistance. With real-time visibility into direct and indirect spend, Medius offers tools to help you make better decisions while ensuring easy onboarding and low maintenance.

Flagright is an AI-native platform for AML compliance and fraud prevention. It offers automated case management, AI-based risk scoring, real-time transaction monitoring and customer risk assessment. Flagright's advanced AI algorithms spot potential fraud, providing real-time and risk-based transaction monitoring with high accuracy and efficiency, allowing businesses to significantly reduce manual work and false positives.

Another good option is Nasdaq Verafin, which pools data from hundreds of institutions to offer better security and efficiency in fraud detection. With machine learning and consortium analytics, Verafin spots anomalies in payment patterns and offers powerful anti-money laundering and counter-terrorism financing management. The platform helps financial institutions and credit unions prevent fraud and meet regulatory requirements with advanced analytics and AI.