Spend and expense platform Extend is piloting with its bank partners an AI agent that can automate matching receipts to card transactions, the company announced.
Extend's AI Receipt Agent searches and matches receipts both within Extend—a platform that works with bank partners to enable virtual cards to be issued on existing card accounts—and from externally linked accounts, including Google Workspace and Outlook, according to the company. The agent keeps humans in the loop for reviews and approvals after matching, and finance teams also see reasoning for why receipts and transactions were matched.
Extend CEO and cofounder Andrew Jamison said those guardrails are particularly critical when AI is working with company money and financial records, with caution, not lack of interest, slowing AI adoption particularly among small and midsized companies.
"As a small business ourselves, we want the same thing: tools that make the busywork disappear without creating new risk," Jamison said in a statement. "That's why we are building all of our AI agents to handle the routine work well and to show their work at every step. We help banks deliver AI their customers will actually trust, so no one has to trade control for convenience."
Extend said its pilot is running with small, midsize and enterprise businesses and that it plans to expand availability throughout the rest of the year.