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PhonyInvoices Provides Scalable, Robust Technology to Curb Invoice Fraud


This post is part of our live coverage of FinovateFall 2013.

PhonyInvoices is making its way to the Finovate stage now. The company’s solution helps combat phony invoice schemes that cost businesses millions every year.

“PhonyVendorCheck is a data driven SaaS solution that is much more scalable, robust and comprehensive in its ability to curb invoice fraud.
Implementation of our two current products has led to the development of PhonyVendorCheck, a data-driven SaaS solution that is much more scalable, robust, and comprehensive in its ability to curb invoice fraud. We are rolling out this new product right here at FinovateFall 2013:
  • – a website for customers to upload their vendor list for immediate verification
  • Financial Software ‘Plug-Ins’ – Quickbooks App for automated vendor check. More accounting software add-ons to follow
  • Payment Processors – through a customized API, financial institutions can access our database to provide their customers a real time safeguard from paying invoice scams
  • Data Companies – API allows other companies to leverage our data”
Product Launch: September 2013
Metrics: Personally funded by Barnett Helzberg & 5 employees
Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms, & licensed
HQ: Kansas City, Missouri
Founded: January 2012
Twitter: @PhonyInvoices
Presenting David Cacioppo (Founder) and Jonathan Lee (VP Business Development)
The full demo video will be available at in mid-September.