Finexio: Vendor Analysis — Payments solution overview, value proposition, roadmap, Finexio competitors, tech selection tips, analyst summary

This Spend Matters PRO Vendor Analysis provides an overview of Finexio and its comprehensive approach to digitizing payables.

When it comes to B2B payment technology providers, the main competition is either inertia with existing ways or mid- to large-market banks. Banks compete with higher rebate payouts, credit and relationship (share of wallet) but generally lack reporting, reconciliation capabilities, customer service, APIs, front-end technology, spend analysis of payment files, inability to integrate to clients ERP, etc.

A wide range of B2B fintech solutions attempt to compete with their capabilities, customer service, technology, integration experience, etc. And at least 70 source-to-pay platforms have added some form of payment capability or are in the planning stage.

If you lack a money transmitter or bank license, you must partner with a slew of companies to piecemeal solutions together for card, ACH, check print, cross border, virtual card, etc. On top of that, a few are adding some form of embedded finance or at least early pay finance.

Most fintechs look to banks for the cross-selling potential and find banks, while having the customers, are poor at sales.

Finexio is attempting to help companies find a complete payment solution versus their banks that must cobble solutions together.

Here’s why Finexio matters:

• For platforms — The company provides a white-label solution to AP automation players to offer a complete payment solution to their customers. Finexio powers B2B payments infrastructure for three of the world’s top 15 largest accounts payable and procurement software platforms. Platforms include S2P vendors, AP automation vendors, ERP integrators and custom app developers.
• For companies — Finexio’s strategy is to provide many payment options based on what customers need — from e-check to v-card to supply chain finance. Here they compete with banks, which must mix and match solutions but generally lack technology and customer service. Finexio’s focus is on $100 million to $1 billion in revenue.
• For accounting firms that need a complete payment solution as part of their services offerings to companies, accounting firms can white-label their portal, with their logo and color scheme, and launch a turnkey payments offering to customers efficiently.

This Vendor Analysis also explores the concept behind Finexio and the platform, application and supporting services that it delivers. It also offers information on partners, background on Finexio’s competitors and a tech-selection checklist for its solution.