MindBridge News

MindBridge Celebrates Record Year of New Certifications, Awards, and Growth

Mar 30, 2022

Originally published here.

Triple-digit growth and outstanding customer engagement position MindBridge to capture the emerging global AI financial risk discovery market with more than 35 billion entries analyzed to date

OTTAWA, ON, March 30, 2022 /PRNewswire/ -- As the world has worked on containing the global pandemic since 2020, organizations have picked up momentum in 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 operations to support ever-increasing demand for its industry-leading platform. Over the past two years, MindBridge has:

  • Experienced an increase of more than 300% uplift in both customer usage and analysis from 2020 to 2021
  • Attained ISO 27001 Certification and 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 financial data analysis
  • 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 and New York 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 meet the requirements of internal audit and financial departments of enterprises, enabling them to be proactive in identifying risk in their financial records
  • Implemented the MindBridge Experience — an employee-centric, robust benefits offering — for employees. It enables people to feel valued, supported, and primed to succeed. MindBridge recognizes the importance of the employee experience whilst addressing employee wellbeing in a more personalized, dynamic, and competitive way. The offering includes global RSPs, equity, incentive compensation, affordable health/life/dependent/etc. coverage, referral programs, years of service PTO enhancements, and parental leave programs, to name a few.

To date, more than 35 billion rows of financial entries from a diverse set of financial data of more than 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."

About MindBridge
MindBridge, a provider of the world's leading financial risk discovery platform, helps auditors, accountants, and financial professionals become more efficient and profitable. From transactional risk assessment to organizational process improvements, users are provided with the AI-embedded tools, visualized analytics, and in-depth resources they need for stronger analysis, assessments, and advisory services. Artificial intelligence and industry expertise set the MindBridge platform apart to surface errors, intentional or not. The organization has been recognized by the World Economic Forum as a Technology Pioneer in 2020 and by Forbes as a Top 50 AI Firm to Watch in 2021 for its contribution to transforming accounting and financial professionals' ability to analyze data. Founded in 2015 in Ottawa, Canada, MindBridge serves customers in audit and advisory, enterprise, government, and financial institution segments around the world.

CONTACT: Madeline Knapp

SOURCE MindBridge