“Can an ECM/AP-automation vendor own the entire procure-to-pay flow by acting as its own licensed money-services business?”
PIREL is a Québec-based ECM/EDM vendor whose Sisalto® platform automates accounts payable and accounts receivable for mid-market customers. Its embedded-finance angle came through Sisalto Pay®, an ePayment product originally integrated alongside AP/AR. Becoming a FINTRAC-registered MSB allowed PIREL to internalize money movement rather than rely on a third-party payments provider, positioning it as a self-operated ePayment provider for Canadian enterprises in addition to a document-automation vendor.