WEX Says AI Accelerates Product Innovation by 20% – PYMNTS.com

WEX Q3 2025 Performance Report: AI Integration and Alignment with Sustainable Development Goals

Executive Summary

Global commerce platform WEX reported revenue growth across all business segments for the third quarter of 2025. The company’s performance is significantly enhanced by the strategic implementation of Artificial Intelligence (AI), which has accelerated product innovation by 20%. These technological advancements and business strategies demonstrate a strong alignment with several United Nations Sustainable Development Goals (SDGs), particularly SDG 3 (Good Health and Well-being), SDG 8 (Decent Work and Economic Growth), and SDG 9 (Industry, Innovation, and Infrastructure).

Artificial Intelligence as a Catalyst for Sustainable Innovation

Accelerating Innovation in Line with SDG 9

WEX is leveraging AI to foster innovation, a core component of SDG 9 (Industry, Innovation, and Infrastructure). The company has achieved a 20% acceleration in product development by embedding AI across its operational and development lifecycles. Key areas of AI application include:

• Customer Discovery
• Prototyping
• Coding and Quality Assurance
• Infrastructure Management and Security

By integrating AI into field service management solutions, WEX is shifting from static reports to real-time intelligence, helping customers make faster, more informed decisions and building more resilient and technologically advanced business infrastructure.

Enhancing Operational Efficiency and Economic Productivity (SDG 8)

The use of AI and proprietary data is enhancing operational efficiency, contributing to SDG 8 (Decent Work and Economic Growth) by promoting higher levels of economic productivity through technological upgrading and innovation. Specific improvements include:

• Fraud Prevention: AI enables faster and smarter decisions in fraud prevention and credit management.
• Claims Processing: In the benefits segment, AI has reduced claims processing time from days to minutes.
• Customer Support: Human-in-the-loop generative AI is boosting productivity and lowering the cost to serve.

Q3 2025 Financial and Segment Performance Analysis

Overview of Revenue Growth

WEX reported positive year-over-year revenue growth across its three primary business segments for the third quarter.

1. Mobility: $360.8 million (+1%)
2. Benefits: $198.1 million (+9.2%)
3. Corporate Payments: $132.8 million (+4.7%)

Mobility Segment: Supporting Small Enterprises (SDG 8)

The Mobility segment’s strategy focuses on small businesses, specifically fleets with 25 or fewer vehicles. By providing specialized fuel cards, WEX helps these enterprises save on fuel costs, manage fraud, and control expenses. This targeted support for small businesses directly contributes to SDG 8 (Decent Work and Economic Growth) by fostering their financial stability and potential for growth, which is crucial for creating decent work and building local economies.

Benefits Segment: Promoting Health and Well-being (SDG 3)

The Benefits segment’s 9.2% revenue increase was driven by a 7% growth in Health Savings Accounts (HSAs). This growth aligns with SDG 3 (Good Health and Well-being) by expanding access to financial tools that help individuals manage healthcare costs. WEX is positioned to further this goal with new 2026 legislation expected to expand HSA eligibility, potentially adding 3 to 4 million new accounts and improving financial preparedness for health-related expenses for a wider population.

Corporate Payments: Fostering Economic Productivity (SDG 8 & SDG 9)

Growth in the Corporate Payments segment was driven by a 10.8% increase in total volume and greater yields. The widespread adoption of embedded payments and Accounts Payable (AP) automation solutions across various industries supports both SDG 8 and SDG 9. These technologies streamline financial operations, enhance corporate productivity, and represent an innovative application of financial technology that strengthens business infrastructure.

Strategic Outlook and Commitment to Sustainable Growth

WEX’s forward-looking strategy is centered on leveraging technology to drive productivity and market leadership. The company’s strategic priorities include:

• Strengthening its position in current markets.
• Extending its platform into adjacent workflows and new use cases.
• Accelerating innovation to maximize investment productivity.

The continued integration of AI is fundamental to achieving these objectives, reinforcing WEX’s competitive advantages and its contribution to sustainable economic and social development.

1. Which SDGs are addressed or connected to the issues highlighted in the article?

SDG 8: Decent Work and Economic Growth

• The article discusses WEX’s revenue growth across all its business segments, which contributes to overall economic activity. It also highlights how the company is boosting its own productivity through AI, aligning with the goal of achieving higher levels of economic productivity. Furthermore, the article mentions a specific strategy to support small businesses (fleets with 25 or fewer vehicles) by providing them tools to manage costs and control expenses, which fosters the growth of small enterprises.

SDG 9: Industry, Innovation and Infrastructure

• This is a central theme of the article. WEX is explicitly using advanced technology (AI) to accelerate innovation, improve its operational infrastructure, and enhance its service platforms. The text states that AI has “accelerated its product innovation by 20%” and is being embedded across platforms and operations to “scale the business, accelerate innovation and strengthen WEX’s long-term competitive advantages.” This directly relates to upgrading technological capabilities and fostering innovation within the industry.

SDG 3: Good Health and Well-being

• The article connects to this goal through its discussion of the “benefits segment,” specifically the growth in Health Savings Accounts (HSAs). HSAs are a financial tool that helps individuals manage healthcare costs, contributing to the financial risk protection aspect of universal health coverage. The article notes a “7% growth in HSA accounts” and a potential market expansion that could provide millions more people with access to these accounts.

2. What specific targets under those SDGs can be identified based on the article’s content?

SDG 8: Decent Work and Economic Growth

• Target 8.2: Achieve higher levels of economic productivity through diversification, technological upgrading and innovation. The article is a case study of this target, detailing how WEX is leveraging AI for “technological upgrading and innovation” to boost productivity. Examples include reducing claims processing time and using generative AI in customer service to lower costs.
• Target 8.3: Promote development-oriented policies that support productive activities… and encourage the formalization and growth of micro-, small- and medium-sized enterprises. WEX’s targeted marketing and services for “fleets with 25 or fewer vehicles” directly supports small businesses by providing them with tools to “save on fuel costs, access discounts, manage fraud and better control their expenses.”

SDG 9: Industry, Innovation and Infrastructure

• Target 9.5: Enhance scientific research, upgrade the technological capabilities of industrial sectors… encouraging innovation. The article’s core message is about WEX’s use of AI to “accelerate innovation” and upgrade its technological capabilities in areas like customer discovery, coding, quality assurance, and security.

SDG 3: Good Health and Well-being

• Target 3.8: Achieve universal health coverage, including financial risk protection. The growth and planned expansion of Health Savings Accounts (HSAs) discussed in the article directly relate to providing tools for “financial risk protection” against high healthcare costs, which is a key component of this target.

3. Are there any indicators mentioned or implied in the article that can be used to measure progress towards the identified targets?

Indicators for SDG 8 Targets

• Productivity Increase: The article provides a qualitative indicator by stating that AI has “reduced claims processing time from days to minutes” and a quantitative one by mentioning that revenue in the benefits segment was “up 9.2% year over year,” reflecting economic growth.
• Support for Small Businesses: The strategic focus on “fleets with 25 or fewer vehicles” serves as an indicator of action towards supporting small enterprises, although a specific number of businesses served is not provided.

Indicators for SDG 9 Targets

• Rate of Innovation: The article provides a direct, quantitative indicator by stating that WEX “has found that artificial intelligence has accelerated its product innovation by 20%.”

Indicators for SDG 3 Targets

• Access to Financial Risk Protection: The article offers clear quantitative indicators, including the “7% growth in HSA accounts” and the estimated potential market expansion of “3 to 4 million new accounts,” which can be used to measure the increased adoption of financial tools for health.

4. Create a table with three columns titled ‘SDGs, Targets and Indicators” to present the findings from analyzing the article. In this table, list the Sustainable Development Goals (SDGs), their corresponding targets, and the specific indicators identified in the article.

Source: pymnts.com