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Transparently.AI launches web-friendly version of software to detect accounting fraud

12 Apr 2024 1:55 PM | Anonymous

New self-service offering allows customers to activate anti-fraud solution in minutes with a credit card

Singapore, April 11, 2024 — Transparently.AI, which makes artificial intelligence software that detects accounting fraud, has unveiled a web-friendly version of its product, in a bid to make the tool more accessible in the global battle against financial crime.

With the new self-service offering, customers can now activate their anti-fraud solutions in minutes by purchasing directly from Transparently.AI's website with a credit card. It comes on top of the Singapore-based firm’s high-touch enterprise solution, which has been available for over a year to asset managers, financial firms and auditors.

Self-service customers can choose from different pricing options based on their specific needs and budget. The software can be easily integrated into existing systems, making it a hassle-free solution for companies looking to protect themselves against accounting fraud.

By leveraging the power of AI, the software can quickly and accurately detect fraudulent activities, saving businesses from potential financial losses and reputational damage.

"We wanted to make our anti-fraud solution more accessible to a wider range of companies,” said Hamish Macalister, chief executive officer and co-founder of Transparently.AI. “With this new offering, customers can easily purchase and activate our software without having to go through a lengthy sales process.”

With this launch, Transparently.AI is further solidifying its position as a leader in AI-powered anti-fraud solutions for the financial industry. Asset managers, banks, auditors, exchanges and others can use the product as a tool to filter for suspicious accounting, fraudulent book-keeping and weak corporate governance.

Transparently.AI’s software is trained via machine learning to detect accounting red flags in corporate balance sheets. It produces an A+ to F risk rating, as well as a 0-100 risk score which measures the likelihood and extent to which a company is manipulating its accounts.

The firm already counts one of the world’s largest sovereign wealth funds, a global commercial bank and one of the Big 4 auditors among its customers. The three-year-old AI startup in February announced an investment from U.S. asset-management giant Franklin Templeton, as part of a US$3 million pre-series A funding round.

Early bird discounts for RegTech Association members Transparently.AI is offering The Regtech Association members and network 20% discount to try the tool out! Learn more here.

About Transparently.AI
Founded in 2021, Transparently.AI has developed an AI-based system for the automated detection of accounting manipulation and fraud in companies. The firm was named in the RegTech100 list for 2023, which is an annual list of the world’s most innovative regtech companies. Find out more at transparently.ai.

Press contact:
Darren Boey darren@transparently.ai
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