AvidXchange AI
AI-powered accounts payable and payment automation platform.
Independent assessment across data handling, compliance, security and transparency.
Risk factors
3- Handles sensitive financial data for automation.
- Default training on user data without opt-out.
- Cloud-based service with third-party data access.
Recommendations
3- Implement encryption for financial data at rest and in transit
- Review regulatory compliance for your jurisdiction
- Establish vendor risk assessment procedures
Data handling
- Storage
- SOC 2 compliant cloud infrastructure
- Retention
- Per financial regulatory requirements
- Training on inputs
- Financial data not used for model training
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