MindBridge Releases New AI Innovations to Combat Escalating Financial Risks

Originally published here in PR Newswire

OTTAWA, ON, Sept. 17, 2024 /PRNewswire/ - The MindBridge Conference – MindBridge, the leading AI-powered financial risk intelligence platform, is announcing significant enhancements to its MindBridge AI™ platform at The MindBridge Conference. These improvements come as MindBridge continues to redefine financial integrity by providing finance professionals and auditors with a platform to analyze all financial transactional data, all the time. New capabilities allow companies to contextually view and manage financial irregularities, whether from errors, risks, or fraud, through the lens of an auditor, a regulator, and the company's own custom financial controls.

As the financial landscape grows more complex, traditional risk management methods are failing to keep pace with the rising volume of data and evolving regulatory pressures. As businesses scale, the ability to monitor transactions becomes increasingly difficult. Current oversight techniques, such as sampling, are inadequate and outdated, leaving organizations vulnerable to undetected fraud, financial losses, and compliance failures.

"With business moving faster than ever, and data expanding at record levels, finance and audit teams need continuous, comprehensive monitoring of all financial transactions and the associated processes that carry the information across the enterprise," said Stephen DeWitt, CEO of MindBridge Analytics. "Our CFO customers need all their data analyzed in near real-time and need to be able to easily correct potential risks. The new platform enhancements offer more efficient risk identification and streamlined workflows, enabling users to quickly access actionable risk intelligence for better financial outcomes."

The AI era is here and it will usher in unmatched levels of efficiency and performance for business around the globe. Key to this:

Insights Dashboard
Built on user feedback, this new dashboard streamlines financial risk intelligence by delivering clear, actionable insights. Designed for ease and speed of use of use, it helps internal users quickly identify anomalies, exceptions, and inefficiencies while prioritizing high-risk areas. The dashboard offers a more effective approach to identifying and managing financial risks, showing users exactly where they need to look to take action.

Data Explorer
The new Explorer provides a seamless transition from high-level summary insights to granular data entries, supporting 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 risk response for users who are short on time.

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 pull data directly from cloud platforms and integrate 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 for continuous data flows.

About MindBridge Analytics
Founded in 2015 and headquartered in Ottawa, Canada, MindBridge is the global leader in AI-driven financial risk intelligence. MindBridge empowers finance professionals to detect anomalies and manage risk for huge amounts of data with unimagined precision. Analyzing all financial transactional data, all the time, MindBridge enables companies to identify and manage risk across the enterprise through the lens of the auditor, regulator, and bespoke financial controls. Trusted by finance professionals and internal and external auditors worldwide, MindBridge has analyzed over 135 billion financial transactions for risk. Learn more at mindbridge.ai.