Leading business-to-business payments provider Crezco has been named Best Anti-Fraud Solution at the Open Banking Expo Awards 2022.
Launched to celebrate the innovators, disruptors and visionaries at the forefront of the open banking revolution, the awards took place on 7 July. Crezco aims to bring the convenience of business-to-consumer payments to the B2B space, providing free payments that settle instantly and integrating with the likes of Xero and QuickBooks to enable automatic reconciliation.
It helps businesses to combat push payment and invoice fraud by fast-tracking payments and getting away from manually processing invoices, which the company estimates to account for 90% of all invoicing.
Ralph Rogge, co-founder and CEO of Crezco, said “We operate in a space that’s been overlooked for many years. Now, with open banking, we’re getting access to the data points we need to be able to identify invoice and push payment fraud. In doing so, we’re helping businesses not only combat fraud and its costs to their operations but get paid faster. It’s an approach that clearly resonates with both our customers and the market, and we are delighted to be recognised by our peers for the work we have done to date.”
The win is the second for the company in recent months, as it was named Best Real-Time Payments Solution for Business at the 2022 PayTech awards. Crezco also previously raised £3 million in a seed funding round, which is being used to continue the company’s international expansion and add to its product range.