Use Case
How one organization reduced fraud and reinforced compliance
with MSB-backed automation
The Challenge
With thousands of suppliers spread across numerous legal entities, the organization was handling high volumes of payments manually — a process prone to fraud risk, duplicate entries, and inconsistent oversight. Finance leaders needed a secure, scalable approach to payment execution that aligned with financial compliance obligations.
The Approach
The company implemented PIREL’s payment automation solution, leveraging its status as a registered Money Services Business (MSB) under FINTRAC. Payments were executed through a certified, controlled environment with strong encryption and PCI-compliant handling. As part of the process, every supplier was vetted before activation, ensuring that only verified and compliant vendors received funds.
The Outcome
Fraud risk was significantly reduced, and payment operations became faster, more controlled, and fully auditable. The organization strengthened its compliance with SOX, FINTRAC, and internal policies — while gaining full traceability of every transaction.
At a Glance
Strategic Business Impact:
- Lower operational costs through fraud prevention and automation
- Reduced fraud risk and improved financial control
- Strengthened compliance with SOX, FINTRAC, and internal policies
Operational Improvements:
- Payments executed through a FINTRAC-registered MSB
- PCI-compliant environment with robust controls
- Verified suppliers only — no unauthorized payouts
- Full audit trail for every transaction
Apply This to Your Business
Curious how this could work in your organization? Click the Request a Demo button below — we’ll tailor the conversation to your reality.