IXOPAY has announced its acquisition of Congrify in order to bring AI-powered insights to global payment orchestration, tokenisation, and compliance.
Following this announcement, the acquisition is set to integrate Congrify's AI analytics engine with IXOPAY's orchestration, tokenisation, and compliance infrastructure. This process is set to develop a predictive, self-optimising platform that gives merchants and businesses the possibility to increase revenue, cut costs, and reduce risk.
In addition, through the process of moving to predictive optimisation, the companies aim to give clients improved visibility and control. With this strategy, merchants will be able to identify and act on opportunities in order to improve authorisation rates, minimise fees, and prevent fraud across their entire processor network.
More information on IXOPAY’s acquisition of Congrify
According to the official press release, the key platform developments will include AI Co-Pilot (an AI-powered assistant that was developed for real-time analysis and actionable recommendations), optimised reconciliation (including custom matching logic that can be leveraged to easily reconcile transaction statuses and fees across raw and unified data, invoices, and other data sources), as well as payments observability (no-code dashboards to monitor performance, fees, and chargebacks), and a simplified data pipeline (which will provide integration with data-clouds, including Snowflake, enabling access to merchant data with a simple connection, no complex streaming required).
This announcement follows IXOPAY’s strategy to sign the AI Trustworthy Pledge, a public commitment that was initiated by the Cloud Security Alliance (CSA) in order to further develop the responsible development and management of artificial intelligence (AI). Through the process of joining the pledge, IXOPAY was set to focus on CSA’s AI Safety Initiative, as well as on the process of embedding trust, transparency, and ethical principles into the future of fraud prevention, smart routing, and payment optimisation solutions. In addition, it also embedded the capabilities that power over USD 40 billion in annual payments across more than 30 countries.
Earlier in the same month, IXOPAY integrated JP Morgan Payments and expanded global payment connectivity. Following this announcement, merchants and businesses were given the possibility to access JP Morgan Payments' Commerce Platform through the use of IXOPAY's orchestration platform, as well as boost approval rates, reduce costs, and simplify global expansion.
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