Analysis
Basware said it completed its acquisition of payment-fraud prevention platform Trustpair on October 5, following an agreement announced in August. Financial terms were not disclosed in the closing release. The combination connects two different controls: checking whether an invoice represents a valid, approved obligation, and checking whether the supplier and destination bank account are legitimate. The companies describe an opportunity to combine invoice and supplier information with fraud intelligence; that is an integration ambition, rather than independently demonstrated fraud-loss reduction. Trustpair will retain its platform, customer relationships, contracts and support, and continue integrations with enterprise-resource-planning, treasury, procurement and payment systems. Customers will not need to use Basware to deploy Trustpair.
What remains uncertain
The closing release does not quantify the purchase price, integration timetable or independently measured effects on fraud losses.