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A successful collaboration between FIS and Lombard, NatWest Bank’s asset finance specialist, has resulted in an AI solution which is set to transform invoice-to-pay workflow and the customer experience in asset finance.

FIS Invoice Manager uses artificial intelligence (AI) to accurately capture data from invoices and is specifically trained for the AP workflow in vehicle and equipment finance. It integrates seamlessly with FIS Asset Finance as well as existing invoice-to-pay processes.

The fully digitalised invoicing process is due to go live at the start of 2023.

Craig Leyland, Lombard’s Head of Asset Finance and Transformation, says, “This kind of collaborative innovation has been really valuable to the design process.

“Lombard has got huge experience of asset finance processes and FIS has the technology and the innovation. When you bring those two things together with a common aim, you get powerful results.”

Read the full article, Partnership pays off for FIS and Lombard, here.