London - Previse, a fintech company that uses artificial intelligence (AI) to transform global B2B commerce, has been recognised in the Best Use of Data and Analytics in Financial Services category at the FStech Awards 2019.

Mayer Brown advised the award-winning company on its AI-powered online instant invoice payment system, including the development, ownership and licensing of intellectual property rights in the platform, and the terms on which it permits customers, suppliers and funders to use that platform. 

Previse enables businesses to have all their suppliers paid instantly, as soon as the buyer receives an invoice. Using data and analytics, invoices that won’t be paid are identified, allowing a funder to pay the rest immediately, which resolves the global problem of slow supplier payments. Suppliers pay a small fee (typically 1% per month) for instant payment, which is shared between buyer, funder and Previse.

The London based Mayer Brown team that advised Previse was led by Alex Dell, Banking & Finance partner and Oliver Yaros, Intellectual Property partner. It included Charles Thain, Banking & Finance senior associate and Ryota Nishikawa, Intellectual Property associate.