PerfectAudit Uses Encryption Standards Recommended and Used by Many Financial Inst

Aug. 17, 2016 - PRLog -- PerfectAudit, Powered by Ocrolus, uses encryption standards recommended and used by many financial institutions. PerfectAudit accomplishes the same tasks a one-third of the cost. By automating the most tedious portions of bank and credit card statement analysis, PerfectAudit allows for a lean best-practice work product.

PerfectAudit, is a FinTech platform that eliminates the need to review bank and credit card statements manually. The system analyzes PDF statements from all US financial institutions allowing users to quickly and confidently make financial determinations. PerfectAudit extracts the transactions into an interactive, exportable database for the reviewer to search and analyze. All files, regardless of format and quality, are digitized with over 99% accuracy.  Clients access the platform through the cloud-based application, or connect directly to data via API integration.

PerfectAudit's proprietary backend combines transaction detection OCR technology, crowd-sourced data validation, and algorithmic reconciliation. This innovative approach enables PerfectAudit to leverage machine learning, continually enhancing automation while accelerating analysis time. The PerfectAudit API will be available beginning in September and includes analytics such as average daily balance, number of days of a negative balance per month, number of interbank deposits, and number of deposits from outside sources.

Summary statistics are automatically generated, and transactional data can be instantaneously searched. PerfectAudit eliminates the need to manually audit bank and credit statements. E-statements, originals, photocopies, faxes and even documents with pen marks or coffee stains are all acceptable.  Users can instantly find transactions of any defined value and are automatically alerted of potentially missing statements and transfers between accounts. Every transaction is linked via SNAPSHOT to its precise location on the source document. PerfectAudit does not require the applicant to provide bank login credentials whereas many do require this.

PerfectAudit (www.PerfectAudit.com) goes to great lengths to protect clients' private information. All files are encrypted at rest with AES-256 bit encryption, and TLS 1.2 is supported for communications. User data is stored with Amazon Web Services, the same platform used by the National Security Agency and the Department of Defense.  Amazon's ultra-secure facilities are monitored 24/7 by security guards and accessible only by biometric scanning. This infrastructure meets the requirements of an extensive list of global security standards, including: ISO 27001, SOC, HIPAA / HITECH, FedRAMP, and the PCI Data Security Standard. PerfectAudit guarantees the highest level of data protection.

For new users, the system is completely free to use for 250 pages.  Thereafter the pricing starts at $0.40 per page. Follow PerfectAudit on Twitter at @Ocrolus.