Cass Information Systems CEO Discusses Invoice Fraud and Payment Issues on Today's Marketplace

Core Insights - The interview highlights the significant financial implications of invoice fraud, with approximately 80% of businesses experiencing some form of fraud that adversely affects their bottom line [2][6]. - Cass Information Systems utilizes advanced AI technology to process non-purchase order invoices, ensuring legitimacy and accuracy before payment [4][6]. - The integration of AI in financial processing is creating new opportunities for business students, emphasizing the need for technical skills alongside traditional finance education [5][6]. Company Overview - Cass Information Systems is a leading provider of integrated information and payment management solutions, disbursing over $90 billion annually on behalf of clients and holding total assets of$2.3 billion [9]. - The company is supported by Cass Commercial Bank, which offers sophisticated financial exchange services and is a wholly owned subsidiary [9]. - Cass is part of the Russell 2000 index, indicating its significance in the market [9]. Educational Insights - Creighton University's Heider College of Business is preparing students for the finance sector by incorporating a FinTech major that covers blockchain, AI, machine learning, and analytics [6][10]. - The curriculum aims to equip students with both traditional financial skills and modern technical competencies necessary for today's automated financial transactions [6][10]. Media and Outreach - Today's Marketplace (TMP) serves as a platform for C-Suite interviews, providing insights from business leaders and academic experts, enhancing media exposure for under-reported stories [11].