Financial risks have nowhere to hide

Prebuilt and scalable algorithms continuously analyze all data, exposing risks through the contextual lens of an auditor, regulator, or bespoke internal controls.

Advanced machine learning

Out of the box algorithms find patterns in datasets without the need of supervision. The platform identifies data relationships and structures, surfacing patterns of unusual behavior that a human would never find.

Unbiased

Discover trends and risks otherwise unnoticed in your most important data, free from external influence and bias.

Scalable

Process hundreds of millions of rows, offering greater risk coverage and overcoming traditional data volume challenges.

Explainable

Transparent AI and clear documentation provides credible results, creating trust in your most critical financial data.

A unique ensemble AI approach

By leveraging multiple techniques simultaneously, enhance your ability to identify errors and anomalies, resulting in broader risk detection and coverage.

CHALLENGES

Traditional financial controls are antiquated and inflexible

Finance and audit teams can no longer keep up with the volume and velocity of data changes caused by digital transformation programs.

The challenge is multiplied by the ever-changing risk and regulatory compliance landscape. Companies struggle to keep up with the velocity of change.

SOLUTION

Adaptable transaction oversight with AI-powered financial controls

Choosing MindBridge for anomaly detection offers quicker deployment, ongoing support, and proven effectiveness. This allows your team to leverage a robust, trusted solution without needing specialized machine learning expertise, enabling them to focus on higher value-added work.

Shortcomings of Traditional Approaches

MindBridge aims to tackle issues derived from traditional approaches by using modern technology to supplement professional judgment and increase speed through a data-driven approach.

Finance, Accounting, Operations

Errors in month-end close

Inaccurate budget forecast

Inefficient manual processes

Regulatory non-compliance

Unknown emerging risk

Control, SOX, Risk, Compliance, ERM

Lack of process automation

Ineffective controls testing

Subjective risk assessment

Manual control reliance

Limited scope

Internal audit, Investigations

Reactive IA planning

Limited detection coverage

Missed fraud indicators

Highly manual workload

Inconsistent results

Leveraging the MindBridge AI™ platform

Specify data set

MindBridge ingests complex and voluminous transactional data sources, including all relevant fields for analysis.

Algorithms you can trust

Ensemble AI leverages out of the box control points that combine your business rules, statistical models, and unsupervised machine learning.

MEDIUM

Flow Analysis

$12.91M

Flags transactions with monetary flows that are not commonly found in the dataset.

HIGH

Suspicious Keyword

$913.81M

Flags entries containing words that may be indicative of potential suspicious activity.

LOW

2 Digit Benford

$5.27M

Flags entries with amounts that do not align with the expected distribution of amounts.

MEDIUM

Rare Account for the Vendor

$12.91M

This control point detects whether the interaction between a given vendor and a given general ledger account are typical or not.

MEDIUM

Atypical Volume for the Vendor

$12.91M

This control point counts the number of payments made on a given check date to detect surges of activity for the given vendor.

LOW

Unusual Quantity for the Product Code

$12.91M

This control point detects any unusual quantities purchased for a given product code.

HIGH

Atypical Changes in the Amount for the Customer

$34k

This control point detects the sudden peaks/falls in amounts for the customer.

MEDIUM

Unusual Total Hours Worked by the Employee

$35.01M

This control point detects whether the total hours worked by the employee are unusual.

Augmenting digital transformation

To grasp the significance of AI and ML in finance and accounting, it’s essential to understand their capabilities.

What our customers say about us

MindBridge automates and pinpoints what to look for, turning this random process into something targeted and efficient.”

Jessica Helms

Partner, Cherry Bekaert

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Ryan Mitchell

Head of Sales, Chevron

By combining KPMG’s in-depth industry expertise with MindBridge’s advanced technologies, we continue to digitally transform the audit, providing increased quality and value to clients and enhancing public trust.”

Sebastian Stöckle

KPMG Global Head of Audit Innovation

With the amount of data we process, we enable our staff to be data literate, to handle the data in a way that drives insights and independence. This was an innovative approach that was implemented to address scale.”

Jeremy Beltgens

Sr. Manager Assurance Innovation at MNP

Instead of doing a little bit of everything at one of our divisions or subdivisions, we can locate the areas of highest risk and focus our time on them.”