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New CaseWare IDEA® Banking Apps Detect Fraud and Errors in Loan and Deposit Accounts

Ottawa, Canada, April 18, 2016 — CaseWare Analytics has released two new banking apps that run on CaseWare IDEA Data Analysis software, and offer banks and other financial institutions assurance by automatically detecting errors and possible fraud schemes related to loan and deposit accounts. Available on the IDEA Marketplace, these apps monitor 100% of any electronic data associated with deposit and loan accounts, protecting the bank’s and the customer’s assets.
 

The Account Manager Activity and Loan Examiner apps are ready-to-use data analytics tests for CaseWare IDEA that are proven to detect fraud, errors, omissions, internal control gaps and compliance violations in only minutes. Once an exception is detected, it is reported to the appropriate stakeholders and guidelines for remediating the issue are provided.

 

These banking apps are valuable tools for banks and other types of financial institutions, which are under increasing regulatory pressure to strengthen their risk management efforts and better manage their business processes. Financial institutions often lack the capacity to audit and monitor their loan and deposit accounts for anomalies and exceptions, and rely on prepackaged reports generated from core banking systems. CaseWare Analytics’ banking apps offer an easy, affordable and efficient way for banks and financial institutions to expand their audit coverage and detect high-risk fraud scenarios that may have gone undetected due to lack of knowledge or expertise.

 

In addition, auditors and other risk professionals can now leverage the convenience of the Account Activity Manager and Loan Examiner apps to free up time and resources that can then be dedicated to investigating and reporting on any high-priority issues that have been identified.

 

The Account Activity Manager and Loan Examiner apps help banks and other financial institutions quickly and efficiently identify, respond to and reduce:

  • Internal and external fraud risk
  • Regulatory compliance risk
  • Financial statement risk
  • Operational and transactional risk
  • Financial loss
  • Credit risk
  • Reputational risk

 

The banking apps perform a variety of analytic tests. A complete list can be found on the CaseWare Analytics blog.

 

To purchase the Account Activity Manager or Loan Examiner apps, visit the Marketplace, or for more information contact us at salesidea@caseware.com.