AI vs. Invoice Fraud: Inside AppZen’s Security Strategy with Chris Bollerud

In This Episode

Chris Bollerud shares how AppZen tackles fraud in expense and invoice processes using AI-driven automation. From scanning 100% of expense reports to matching invoices against purchase orders and flagging anomalous vendor behavior, AppZen is transforming how financial compliance is handled in enterprises of all sizes. Chris explains how AI helps detect changes in payment behavior, suspicious email domains, and social engineering attempts that often slip past human review. His approach focuses on preemptively halting threats and alerting finance teams with high-confidence insights.

Chris also opens up about his unique transition from engineering to security leadership. Initially hired to lead AppZen’s engineering function, he later took on the CISO role as the company scaled. His technical roots, paired with his MBA, gave him a lens to merge architectural best practices with a business-first mindset. He emphasizes that security leadership isn't about being a "cop," but about enabling business growth through risk mitigation and strategic focus.

The conversation dives deep into AI’s role in cybersecurity and product development. Chris differentiates between generative AI and traditional machine learning, advocating for focused, lightweight models trained on specific business cases to achieve accuracy and cost-efficiency. He warns against relying solely on large generic models, citing both security risks and high operational costs. Finally, Chris points to the future, envisioning AI-powered personal safety tools for vulnerable populations, and expressing optimism about the potential for startups to drive meaningful security innovation.