Boston based FinTech company, Tera, has launched a full-stack AI powered finance automation platform to help businesses save time and money by offering a unified experience in managing banking, corporate cards, spend, payments, according to a statement.
“Today, businesses are looking for ways to take greater control of their finances following the global pandemic and the economic shock it has created. They have also significantly accelerated the adoption of digital transformation and the majority are very unlikely to go back to traditional ways of managing their finances,” said Madhu Tera, founder and CEO of Tera.
“We have used an AI-first approach in building Tera platform from ground up. Today’s users are not just looking to automate manual workflows but at the same time looking for better user experience. By leveraging Artificial Intelligence (AI) and Machine Learning (ML) at the core of our platform, we offer frictionless experience in business banking, corporate cards, bill pay and spend management. We continuously innovate to offer better products as we believe, financial systems, which power any business, can be hundred times better than they are today,” added Madhu.
The statement said, “Tera established an alliance partnership with ICICI Bank, which is one of the biggest banks in India, to create seamless banking experiences in the product. With this tight integration, every business on the platform automatically gets a virtual bank account used for collecting payments from customers via auto generated payment links for an invoice. Counterparties can access the payment link and make payments using their existing net banking using IMPS, NEFT and RTGS along with credit and debit card payment options.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.