Financial Services Professionals Express Concerns About Artificial Intelligence Misuse

Billtrust, the enabler of B2B accounts receivable workflow and payment software, released findings from a new research study exploring finance leaders’ trust in artificial intelligence (AI) and their expectations for responsible AI deployment. The research study, based on a survey of 500 finance professionals and C-suite decision makers, reveals that the majority or 82% are now quite concerned about AI’s potential for “misuse, particularly in fraud and financial crime.”

The report, titled “Trust in AI: What Finance Leaders Need to Embrace Artificial Intelligence,” highlights the sophistication of AI-powered fraud, including voice cloning, deepfake video calls, and “convincingly branded fake invoices.”

Almost half of respondents (45%) reported encountering AI-generated phishing emails, while “29% had seen AI voice cloning used to impersonate known contacts.”

Ahsan Shah, SVP, AI & Analytics at Billtrust said that their research shows that trust in AI hinges on “transparency, human oversight, and ethical constraints.”

These aren’t optional features; they are said to be “foundational requirements.”

Other key findings from the research report include:

• 76% believe they would catch a fraudulent invoice before payment, yet many report flagging six or more suspicious invoices monthly.
• 27% of organizations don’t track suspicious activity or aren’t sure of their numbers, highlighting a transparency gap.
• 83% plan to implement AI-enabled solutions within the next two years.

The research study also outlines a framework for responsible AI in finance, emphasizing:

• Human-in-the-loop architecture for oversight and decision-making.
• Transparency and explainability in AI outputs.
• Continuous governance and performance review.
• Secure and ethical deployment aligned with organizational values.
•  Digital infrastructure to support scalable, trustworthy AI systems.

Shah added that finance teams are already using AI to identify / flag various anomalies and reduce manual review.

However, they also pointed out that they need systems that scale without sacrificing “visibility or control.” At Billtrust, they are :committed to building AI that augments human expertise without replacing it.”

As noted in the update, finance professionals choose Billtrust to get paid faster, control costs, and hopefully increase customer satisfaction.

As a B2B accounts receivable workflow and payment software market participant, they aim to provide the world’s brands with AI-enabled solutions to appeal to their buyers across the complete AR lifecycle—from invoice presentment to payment application.

With (a reported) more than $1 trillion invoice dollars processed, Billtrust provides business value via industry expertise and a culture that is said to be focused on more “meaningful” customer outcomes.