Endorsed by the American Bankers Association
The paper-based process auditors use to confirm their client's
account balances with a bank is extremely manual, inefficient and
is open to confirmation fraud. Endorsed by the ABA,
Confirmation.com simplifies the audit confirmation process allowing
banks to comply with regulatory standards, increase productivity
and reduce costs.
To request the ABA Due Diligence Report for Confirmation.com,
Controls the Audit Confirmation Process
Designed to comply with your bank's security
requirements, we undergo SOC 1, SOC 2 and SOC
3 examinations every six months, and have received an ISO
27001 certification of our Confirmation.com service. This
ensures integrity of the data and protects your clients' account
information when responding to confirmation requests.
Controlling the audit confirmation process is more than just
protecting client information. It is also about making sure
the responses are received from and sent to an authorized requestor
(i.e. CPA firm) and that only the properly authorized bank
personnel respond to confirmation requests. To do this,
Confirmation.com uses a unique Authentication and Authorization
process to verify the authenticity of the users.
Improves Productivity and Reduces Costs
Sending and receiving audit confirmation requests can put a
strain on any department. While audit confirmations are
necessary, chasing paper is not. With Confirmation.com, your
bank can drive productivity throughout its workforce while reducing
costs. This service streamlines confirmation workflow,
centralizes responses and archives responses
electronically. Plus, your bank can staff appropriately for
Busy Season using the popular Future-Dated™ feature that
allows you to see how many confirmations are in the queue for a
Increases Client Retention
Anticipating client needs, giving them tools to improve business
processes and consistently providing high service levels are
essential for maintaining a long-term relationship with
clients. Because Confirmation.com streamlines the audit
confirmation process, your clients will spend less time helping
their auditor track down lost confirmations. Your clients and
their auditing team will experience quicker responses,
improved response rates, and decreased errors.
Credit Inquiry Solution
If your bank responds to credit rating requests for your
commercial clients, you can automate that process with
Confirmation.com. Instead of processing faxed requests, your
bank can receive and respond to credit inquiry requests directly
from a desktop, letting you respond faster and more
efficiently than ever before.
Supports Green Initiatives
Today, banks are using a variety of green initiatives throughout
their organization as a way to reduce their carbon footprint.
Confirmation.com not only supports your green initiatives by
reducing paper consumption, but storing documents in an electronic
format saves time, money and space.