AI in Payments: Insights from CheckAlt COO Patrick Law

AI’s Role in Transforming Payments

Artificial Intelligence (AI) is reshaping industries, promising efficiency, innovation, and enhanced customer experiences. In the payments space, AI-driven technologies streamline repetitive tasks, improve fraud detection capabilities, and optimize cash flow management, offering transformative potential. But while many organizations race to adopt AI, some are taking shortcuts—laying off employees in hopes of replacing human roles entirely with technology.

In 2024, multiple reports indicate that over 150,000 employees were laid off across more than 500 companies, with many citing economic pressures and a shift toward automation and AI-driven efficiencies. High-profile examples, like Intel’s plans to reduce 15% of its workforce and Klarna’s goal to halve its team using AI, highlight a growing trend of companies turning to technology to cut costs. However, this reactionary approach often fails to deliver results, as AI cannot replace human intuition, creativity, or expertise. Instead, it should be leveraged as a force multiplier to enhance human performance, not eliminate it.

At CheckAlt, we’ve embraced this philosophy, integrating AI thoughtfully to address challenges and empower our teams and clients. Through our collaboration with AWS, we leverage their advanced cloud infrastructure and AI tools to scale our solutions securely and efficiently. While we harness AI’s potential to transform payments, we remain committed to implementing it responsibly and without bias—a critical consideration for building trust and delivering meaningful results. Patrick Law, our Chief Operating Officer at CheckAlt, shares how his early experiences with AI have helped shape this perspective.

The Early Days of AI

Q: Patrick, what was your first experience with AI, and how did it shape your perspective?

Patrick: My first real interaction with AI was back in 2012. At the bank I worked for at the time, the team I led effectively became an incubator for exploring AI’s potential. We experimented with what was then called a “string configuration,” a unique approach to programming AI that didn’t require high-level coding skills—you could teach AI what to do with simple commands.

Two members of our operations team attended a training session on AI programming. Within a week, they developed three programs capable of handling repetitive disputes and exceptions work. Over the next five months, we built on that foundation, and by the end of the project, bots were managing the workload of 85 people. Instead of focusing on this repetitive work, our team was freed up to tackle strategic initiatives and deliver better customer service.

What stood out most to me during this process was how user-friendly the technology was with the right guidance and oversight. It didn’t require old-school, hardcore code writers to program it. This was technology that tech-savvy, tech-curious staff could stand up and manage effectively. AI opened up new opportunities for people to engage with technology in ways we hadn’t seen before, truly reshaping the landscape of how teams can make a difference. 

That experience taught me a key lesson: AI isn’t a human eliminator; it’s a force multiplier of human performance. When applied thoughtfully, it can free up teams to focus on more strategic work, provide more personalized support, and build deeper connections with clients. 

Q: What lessons from that experience are relevant to businesses today?

Patrick: One critical insight is that AI should focus on repetitive or manual tasks. For example, if 30% of someone’s job involves routine, repetitive work, AI can take on those tasks—not to simply give that time back, but to enable the person to focus on more strategic, high-value efforts. The goal isn’t just to save time; it’s to reallocate it toward serving customers, driving innovation, or tackling complex challenges. I mean, just imagine what your team could achieve with an extra 10-15 hours of time added back to their week!

Avoid the Wrong Approach to AI

Many companies today fall into the trap of rushing AI implementation without ensuring proper knowledge transfer from human to machine. This haste is often compounded by widespread layoffs, which leave organizations understaffed and unable to train and oversee AI systems effectively. Without a solid framework, these companies often struggle to meet client and operational needs, ultimately undermining their own goals.

“At CheckAlt, we take a different approach,” Patrick explains. “We pilot AI internally, refine it, and ensure it complements our human teams. Using AWS’s scalable infrastructure, we’re able to deploy AI in a way that delivers the reliability and performance our clients expect. AI can’t take the place of a human. Instead, find where humans are doing repetitive work and use AI there to help them become more proactive rather than reactive.”

AI automates time-consuming tasks, freeing employees to focus on innovation, tackle complex challenges, and deliver exceptional customer support—all while fostering a more efficient and dynamic work environment. Reducing client/partner organizational friction by leveraging modern and future technologies makes scaling on their behalf “simpler”.

The Importance of Responsible AI

As companies increasingly adopt AI, responsible implementation has become paramount. AI systems are only as reliable as the data and programming they’re built upon. If biases exist in that programming, the results can perpetuate inaccuracies and create negative experiences for clients and employees alike.

Patrick explains, “Every AI system begins with human input, and that input comes with inherent biases. Without careful oversight, those biases can scale in unintended ways. At CheckAlt, we’re committed to reducing bias in AI programming to ensure relevant, consistent, and thoughtful outcomes.”

This commitment extends beyond programming. By piloting AI internally first, CheckAlt ensures the systems not only work as intended but also align with the company’s values of a meaningful and transparent client experience. This measured approach not only builds trust but also helps maximize AI’s potential as a driver of impactful outcomes.

The Right Way to Implement AI

Q: How is CheckAlt incorporating AI to improve the client experience?

Patrick: At CheckAlt, we’re leveraging AI to tackle repetitive processes and reduce friction for both clients and our teams. For example, AI can handle frequently asked questions, open support tickets automatically, and manage exceptions—tasks that would otherwise consume valuable human time. This not only accelerates resolution times but also ensures consistency and accuracy in how we respond to client needs.

But AI’s role doesn’t stop there. We’ve integrated AI into critical areas like fraud detection and payment reconciliation, where its ability to analyze large datasets quickly helps identify anomalies, mitigate risks, and optimize operational processes. These applications allow us to stay proactive and deliver smarter, faster solutions for our clients.

Our strategy is clear: let AI handle the routine, repetitive tasks so our teams (and our customers) can focus on what matters most—building stronger, more meaningful relationships with clients. This isn’t just about improving operational efficiency; it’s about redefining the client experience in ways that wouldn’t be possible without the right balance of technology and human expertise.

Q: What does the future of AI look like at CheckAlt?

Patrick: At CheckAlt, our vision for AI is to reduce friction across the board—for both our clients and our teams. By combining cutting-edge technology with human expertise, we’re focused on delivering smarter, faster solutions that free up our teams to tackle strategic priorities and build stronger client relationships. AI is a tool to drive efficiency and innovation, but it will never replace the human touch that defines how we serve our clients.

As we look ahead, we’re exploring ways to expand AI’s role in automating complex tasks, from streamlining document generation to assisting with product development. For example, AI has the potential to generate foundational code and documentation, allowing developers to focus on solving business challenges. By leveraging AI’s strengths in processing large volumes of information, we can ensure that our teams are empowered to work smarter and create even greater value for our clients. 

Elevating Payments with Thoughtful AI

AI is transforming payments, but only when applied thoughtfully. At CheckAlt, we believe in leveraging AI to empower people, not replace them. By automating repetitive tasks, AI gives teams the time and space to innovate, enhance customer engagement, and focus on strategic growth.

“Imagine freeing your team from frustrating inefficiencies that chew up time and energy,” Patrick says. “A thoughtful approach to AI adoption can unlock their full potential to focus on what really matters—delivering exceptional client experiences and driving meaningful results.” At CheckAlt, that future is already within reach.

Want to learn more about how CheckAlt is leveraging AI to redefine payments? Follow us on LinkedIn and sign up for our monthly newsletter to stay informed about our latest innovations. Better yet, contact us today to see how we can help transform your payment processes.