The Business Intelligence Group has announced that Payrailz® has been named a winner in its Artificial Intelligence Excellence Awards program. Payrailz is a digital payments company offering smarter, more engaging payment experiences to banks and credit unions across the United States. These experiences apply to a full array of payment services such as bill pay, external and internal transfers, new account funding, P2P, loan payments and other related payment solutions.
Banks and credit unions have a tremendous amount of consumer data at their disposal. Using this data, the Payrailz’ digital payment platform leverages AI and machine learning to create actionable insights that provide better digital payment experiences for customers or members. The platform learns users’ financial management habits, like how they pay their bills or when they usually make a transfer, then makes proactive recommendations, called Action Insights®, based on that information.
With Payrailz, end-users do not have to worry about forgetting to pay bills or whether they have enough money in their account to cover them. The platform can also make recommendations that help them to lower their bills or to put surplus funds to work by setting up an automated savings plan.
“We are beyond honored that the Business Intelligence Group has recognized us for our vision and use of AI,” commented Fran Duggan, CEO of Payrailz. “We are very proud of the platform we’ve built and look forward to seeing how our application of AI will continue to revolutionize and assist how people manage their daily financial situations.”
“We are so proud to name Payrailz as a winner in our inaugural Artificial Intelligence Excellence Awards program”, said Maria Jimenez, chief nominations officer for Business Intelligence Group. “It was clear to our judges that Payrailz was using AI to improve the lives of their customers and end-users. Congratulations to the entire team!”