IBM (April 21) has launched updated capabilities for IBM Watson designed to help build trustworthy Artificial Intelligence (AI) technology. Relating specifically to audit is the development of new data privacy management capabilities through IBM OpenPages with Watson.
IBM said the update was designed to help firms deal with the increasing and evolving “data privacy challenges”. The new capability helps automate the reporting of personally identifiable information which improves accuracy and reduces audit time.
Circit (April 27) have added new functionality to their audit confirmation platform by using Open Banking technology. The Circit Platform can now automatically verify in real-time 100 percent of company bank transactions.
Dublin fintech start-up Circit acquires Audapio
Circit’s David Heath, Elaine McCaffrey, Clodagh Vance and Harry Largey. Image: FTI Consulting
The two start-ups will bring their financial auditing technology together and pursue new markets.
Dublin fintech start-up Circit has acquired Audapio, a UK business that builds data analytics tools for financial auditing and fraud monitoring.
Brighton-based Audapio develops analytics solutions for auditing professionals by leveraging open banking data and artificial intelligence. The company was founded in 2019 by Dudley Gould, a chartered accountant formerly of KPMG.
Circit, which was founded in 2017, develops its own platform for managing financial auditing and is used by the likes of banks, solicitors and brokers. It is cleared by the Central Bank of Ireland to operate under PSD2, the EU regulation that makes open banking and the integration of data across financial services firms possible.
Circit acquires Audapio
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Circit acquires Audapio to further automate the financial audit and reduce costs for auditors through its Open Banking regulated platform
Circit, the audit automation and confirmation platform, has expanded its analytics capabilities with the acquisition of Audapio’s data analytics solution.
Circit is a financial audit management platform that provides real-time visibility of audit confirmations as well as the verification of business transactions through its integrated network of banks, solicitors, brokers and fintech services.
Founded in 2019 by Dudley Gould, a Chartered Accountant formerly with KPMG and MKS, Audapio has been at the forefront of leveraging Open Banking data and AI to improve audit quality with analytics solutions for fraud detection and revenue completeness testing.
News Category Global Banking & Finance Reviews
Product & Software Development Agency Altar.io Partners with Audapio to Disrupt the Audit Market in the UK
Product & Software Development Agency Altar.io Partners with Audapio to Disrupt the Audit Market in the UK
LISBON, Portugal, Jan. 6, 2021 /PRNewswire-PRWeb/ Altar.io, one of Europe s leading product & software development companies for entrepreneurs, has collaborated with Dudley Gould to create Audapio, an accounting platform that revolutionises the auditing process with Open Banking.
Dudley is an industry expert in audit data analytics – and has experience working in both audit and analytics teams at Big 4 & Top 20 firms.
As a former auditor, Dudley felt the hurdles of traditional accounting and audit processes firsthand, stating:
Product & Software Development Agency Altar.io Partners with Audapio to Disrupt the Audit Market in the UK
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Most auditing methods are outdated, inefficient, and in many cases, unreliable. Industry expert Dudley Gould partnered with Altar.io to build a platform that brings innovation to the industry, enabling accounts to work with complete and accurate bank transactions obtained directly from the clients’ bank.
Altar.io - Product & Software Development Company
Outdated auditing practices are not only inefficient, but they can also lead to vital audit evidence being completely missed. A problem Audapio is here to solve. LISBON, Portugal (PRWEB)