New platform features equip finance professionals and internal and external auditors with advanced AI tools to detect anomalies, ensure compliance and strengthen risk management
OTTAWA (ONTARIO), September 17, 2024 /PRNewswire/ – The MindBridge Conference – Mental bridgethe leading AI-powered financial risk intelligence platform, announced significant enhancements to its MindBridge AI™ platform at the MindBridge Conference. These enhancements come as MindBridge continues to redefine financial integrity by providing finance professionals and auditors with a platform to analyze all financial transactional data, at any time. The new capabilities enable organizations to contextually visualize and manage financial irregularities, whether due to errors, risks, or fraudthrough the prism of an auditor, a regulator and the company’s personalized financial controls.
As the financial landscape becomes more complex, traditional risk management methods are failing to keep pace with increasing data volumes and evolving regulatory pressures. As businesses grow, the ability to monitor transactions becomes increasingly challenging. Current monitoring techniques, such as sampling, are inadequate and outdated, leaving organizations vulnerable to undetected fraud. fraudfinancial losses and compliance failures.
“As business moves faster than ever and data grows at record levels, finance and audit teams need continuous, comprehensive oversight of all financial transactions and the associated processes that carry information throughout the enterprise,” said Stephen DeWittCEO of MindBridge Analytics. “Our CFO clients need all their data analyzed in near real-time and need to be able to easily remediate potential risks. The new platform enhancements deliver more efficient risk identification and streamlined workflows, giving users quick access to actionable risk insights for better financial outcomes.”
The era of artificial intelligence has arrived and it will usher in unprecedented levels of efficiency and performance for businesses around the world. The key to this is:
Information Dashboard
Based on user feedback, this new dashboard streamlines financial risk information by providing clear, actionable insights. Designed for quick and easy use, it helps internal users quickly identify anomalies, exceptions, and inefficiencies while prioritizing high-risk areas. The dashboard provides a more efficient approach to identifying and managing financial risk, showing users exactly where they need to look to take action.
Data Explorer
The new Explorer enables a seamless transition between high-level summary information and granular data captures, allowing users to confidently investigate, summarize, and act on financial risks with full visibility. It is integrated directly into the Insights dashboard for a more connected workflow. This helps accelerate risk detection and response for time-poor users.
An ecosystem of connected capabilities
MindBridge’s patented data ingestion technology makes it easy to integrate and process financial data from many different sources. It uses tools that connect directly to the cloud, simple web APIs, and an easy-to-use Python interface, making data ingestion a seamless and efficient process. These methods allow users to extract data directly from cloud platforms and integrate it with analytics tools such as Apache Spark, Databricks, and Jupyter Notebooks for advanced processing. The platform also works with popular data movement services like Azure Data Factory, which enables scheduling and automation of continuous data flows.
About MindBridge Analytics
Founded in 2015 and based in Ottawa, CanadaMindBridge is the global leader in AI-powered financial risk intelligence. MindBridge empowers finance professionals to detect anomalies and manage risk across massive volumes of data with unimaginable accuracy. By analyzing all financial transactional data, at any point in time, MindBridge enables companies to identify and manage risk across the enterprise through the lens of the auditor, regulator, and tailored financial controls. Trusted by finance professionals and internal and external auditors worldwide, MindBridge has analyzed over 135 billion financial transactions to determine risk. Learn more at Mindbridge.ai.
SOURCE MindBridge Analytics
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