Ottawa, Canada, March 30, 2022 – As the world worked on containing the global pandemic over the past two years, there has been increasing momentum in how organizations are using the power of artificial intelligence to identify areas of risk in their financial records.
With financial professionals accelerating their adoption of AI in performing a comprehensive risk analysis of financial data, MindBridge, a global leader in AI-powered financial risk discovery, has been experiencing rapid growth and scaling up its operations in support of the ever-increasing demand for its industry-leading platform. Over the past two years, MindBridge has:
- Experienced an increase of over 300% uplift in both customer usage and analysis undertaken from 2020-to 2021
- Attained ISO 27001 Certification in addition to SOC 2 Type 2 Certification to adhere to the stringent security requirements of its expanding customer base
- Worked with University College London Consulting to perform the world’s first independent algorithm audit of an accounting SaaS-based AI application to provide end-to-end transparency and increased trust in MindBridge’s solution; making the black box ‘explainable’
- Received formal category recognition from Forbes, the Canadian Regulatory Technology Association, and the World Economic Forum that further validates how MindBridge is rapidly transforming the analysis of financial data
- Maintained an average uptime of 99.98% in parallel expanding its cloud infrastructure to now deliver core AI-based SaaS application through four regionally redundant environments worldwide
- Broadened its operations with offices in London, UK, New York, NY, and a global delivery center in Austin, Texas to serve an increasing customer footprint
- Continued to enrich the capabilities of its repeatable AI-solution as external auditors incorporated MindBridge deeper into their processes and methodologies to serve their end-clients
- Leveraged its proven AI-solution to commence meeting the requirements of internal audit and financial departments of enterprises to enable them to be proactive in identifying risk in their financial records
- Implementation of the MindBridge Experience for our employees; an employee-centric, robust benefits offering, that enables people to feel valued, supported, and primed to succeed. MindBridge recognizes the importance of our employee experience whilst addressing employee wellbeing in a more personalized, dynamic, and competitive way. Namely: global RSPs, equity, incentive compensation, affordable health/ life/ dependent coverages/ etc., referral programs, years of service PTO enhancements, parental leave programs, to name a few!
To date, over 35 Billion rows of financial entries from a diverse set of financial data of over 900 ERP systems and 17,000 unique organizations worldwide have been analyzed through MindBridge’s core AI SaaS-based application.
These accomplishments, and the accelerated adoption of AI from its customers, resulted in MindBridge completing the fiscal year 2021 with an increase of 233% in committed customer recurring revenues.
MindBridge’s accelerated growth and cross-industry adoption in the accountancy and enterprise markets continue to validate MindBridge’s mission to increase the quality and assurance in the analysis of financial transactions using AI.
“2022 will be the defining year for solutions the breadth and depth of MindBridge as we approach a tipping point where AI transcends the nice to have versus the need to have chasm with velocity and scale,” said Leyton Perris, Chief Executive Officer of MindBridge. “I am extremely proud of the dedication of the MindBridge family and exceedingly grateful to our customer base for leading the charge in materially transforming the industry as we once knew it.”