MindBridge – Reducing uncertainty by providing key insights into the financials of the business

Anomaly detection is the ability to identify rare items or observations that don’t conform to normal or common patterns found in data. These outliers are important within financial data because they can indicate potential risks, control failures, or business opportunities. Moreover, they usually represent critical areas that need further examination or scrutiny. Consumers and businesses lose millions of dollars annually due to hackers’ never-ending cyber onslaughts. However, investing in and retrieving stolen funds costs financial organizations billions more. As attacks become more sophisticated, money-handling organizations must incorporate strong fraud-prevention techniques into their plans to safeguard their clients and themselves from excessive expenses. Anomaly detection is a powerful technique for detecting fraudulent transactions and behaviors, thanks to financial institutions’ ever-increasing amounts of data.

MindBridge is a global leader in financial risk discovery and anomaly detection that helps financial professionals' access better ways of working by identifying, surfacing, and analyzing risk across broad financial datasets. The application combines audit and finance expertise with data science and AI ingenuity to support professional judgment and serve the human need for financial transparency. MindBridge’s patented platform uses a unique set of risk detection and exposure techniques to build trust in your numbers and reduce uncertainty by providing key insights into the financials of the business. As the volume and variety of financial data grow, MindBridge is the only solution that can scale for hundreds of millions of transactions with greater analytics performance and responsiveness, turning data into useful information for quicker decision making.

MindBridge is recognized by the World Economic Forum as a Technology Pioneer, and by Forbes as a Top 50 AI Firm to Watch for its contribution to transforming accounting and financial professionals’ ability to analyze data. Its technology was the first to receive a comprehensive audit and green status by UCLC across all four categories of privacy, explainability, robustness, and bias while operating as designed for algorithm audit and safety. MindBridge was the first Audit and Financial Analysis Software tool to have gone through the rigorous evaluation methodology of the ICAEW Technology Accreditation Scheme and is the first private sector signatory to the Montreal Declaration for a Responsible Development of Artificial Intelligence.

Ensemble AI

MindBridge provides data-driven analytics with the most effective and highest quality insights, enabling your team to focus on critical business issues. Having sight into riskier transactions and data anomalies allows your team to focus their efforts where it matters most. MindBridge heightens your compliance with risk assessment standards by complementing your existing audit methodologies. MindBridge assists with improved performance allowing auditors to engage in data-driven procedures, and enhanced risk identification and assessment. These advantages put a firm in a winning position against competitors, and unlock the insights needed to focus on better audit quality.

 Ensemble AI, the intelligent risk analysis solution is a sum of its parts. It isn’t just one method or algorithm, but many. Ensemble AI combines insights from several algorithms to produce a holistic, detailed risk assessment.

How does it really work?

MindBridge compares your data across 40 capabilities to identify the level of risk for 100% of transactions. They call these capabilities ‘control points’. The MindBridge control points help build an ensemble that is relevant to your data set.

What is unique about MB is the way they identify existing patterns in the general ledger or your data set. They use a variety of risk intelligence tests that are included in your ensemble and provide deeper data understanding at a granular level of detail you can’t get elsewhere. With Ensemble AI, they reduce the noise your organization spends too much time on, by surfacing results that can only be achieved by running each capability together.

MindBridge is designed for auditors to analyze entire volumes of data to surface patterns and connections between transactions, and across sub-ledgers and accounts. MindBridge delivers insights in a fraction of the time it takes to manually uncover risk using traditional methods and is flexible to work within your internal audit framework. The team of CPAs constantly tests their product to make sure they meet your expectations, and give feedback to help us improve. On top of that, their Customer Advocacy Program captures consistent data to help their team deliver on their promises. The company keeps pace with the latest data protection and cybersecurity practices to make sure that their AI auditing platform and solutions are resilient, compliant, and fully secure. MindBridge is certified SOC 2®, SOC 3® and complies with the American Institute of CPAs Security Organization Controls (SOC).

Leyton Perris | President and CEO

Leyton is a growth expert with over 20 years of experience in the software and services space. Prior to MindBridge, Leyton held the position of CRO at Softomotive, which was later acquired by Microsoft. He has held high-level growth roles with several organizations, including CRO at OLR Retail and SVP of Revenue at SunGard Data Systems.

Mr. Perris holds dual bachelor’s degrees in Commerce and Arts, respectively, in the fields of Management Science & Information Systems and Labor Market Economics.

"MindBridge helps financial professionals access better ways of working by identifying, surfacing, and analyzing risk across broad financial datasets."