Fraud Prevention
Hyperbots Payment Co-pilot prevents fraud through duplicate payment checks, anomaly detection, vendor and bank account validation, and real-time alerts.
Key Features
Duplicate payment prevention
Prevents potential duplicate payments by analyzing invoice numbers, amounts, vendors, and payment dates.
Fraud prevention by anomaly detection
Uses AI to monitor payment patterns and flags irregularities such as unexpected payment amounts or unauthorized vendors.
Vendor validation
Ensures payments are made only to verified vendors by cross-checking vendor details against the master database.
Multi-layered approval processes
Configurable workflows require multi-level approvals for high-value payments or those flagged as suspicious.
Bank account verification
Verifies the accuracy and authenticity of vendor bank account details before processing payments.
Monitoring of payment terms compliance
Ensures adherence to agreed payment terms, preventing early payments that could lead to cash flow issues or fraud.
Suspicious activity notifications
Sends real-time alerts to finance teams when irregularities or fraud risks are detected during payment processing.
Comprehensive audit trails
Maintains detailed logs of all payment actions, including user interactions and system actions, ensuring traceability and compliance.
10%
Cash outflow
Co-pilot optimizes payment timings and methods, analysing
payment terms, discounts, penalties and, cost of capital
Vendor satisfaction
Vendors have higher satisfaction as they know real-time status of invoice processing and payments
Auditability
Human Errors
Approvals
Reconciliations & Other KPIs
VALUE PROPOSITION
Why Hyperbots Payments
Co-Pilot?
Hyperbots Payments Co-pilot automates payment processing with features like timing recommendations, approval workflows, and multi-method support (ACH, checks, wire transfers), ensuring secure, efficient, and compliant financial operations.
Before and After Hyperbots Payments Co-Pilot
FAQs: Fraud Prevention
How does the Co-pilot prevent duplicate payments?
It analyzes invoice numbers, amounts, vendors, and payment dates to identify and flag potential duplicate payments, such as invoices entered twice in the system.
Can the Co-pilot detect fraudulent payment patterns?
Yes, the Co-pilot uses AI to monitor payment patterns and flags irregularities, such as unusually high payments or payments to unauthorized vendors.
How does vendor validation help prevent fraud?
The Co-pilot ensures payments are made only to verified vendors by cross-checking details like bank accounts and vendor names against the master database.
What measures does the Co-pilot take for high-value or suspicious payments?
It enforces multi-layered approval workflows for flagged payments, requiring additional approvals, such as routing high-value payments to the CFO.
Does the Co-pilot verify vendor bank account details?
Absolutely, it checks the authenticity of vendor bank account details to prevent fraud, ensuring accounts match registered vendor information.
How does the Co-pilot ensure payment terms compliance?
It monitors payment terms to prevent unauthorized early payments, ensuring adherence to agreed terms and protecting cash flow and financial integrity.
Why Hyperbots Agentic AI Platform?
Finance specific
Hyperbots Agentic AI platform specializes exclusively in finance and accounting intelligence, leveraging millions of data points from invoices, statements, contracts, and other financial documents. No other platform has such large pretrained models on F&A data.
Best-in-class accuracy
Hyperbots achieves 99.8% accuracy in converting unstructured data to structured fields through a multimodal MOE model integrating LLMs, VLMs, and layout models. With contextual validation and augmentations, the platform ensures 100% accuracy for deployed agents.
Synthesis of unstructured and strutured finance data
Hyperbots agents emulate finance professionals to autonomously perform F&A tasks by reading and writing data like COA, expenses, and vendor masters from core accounting systems and integrating it with unstructured data from financial documents such as invoices, POs, and contracts.
Pre-trained agents with state of the art models
Hyperbots' Agentic platform, pre-trained on millions of financial documents like invoices, bills, statements, and contracts, ensures seamless integration, high accuracy, and adaptability to any accounting content, form, layout, or size from day one.
Company specific inference time learning
Hyperbots' Agentic platform employs state-of-the-art Auto ML pipelines with techniques like reinforcement learning to enable inference-time learning for tasks such as GL recommendation and cash outflow forecasting, ensuring continuous improvement and adaptability.
Ready to take the next steps?
Book a demo with one of our Financial Technology Consultants to get started!