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DataSnipper Reaches $1B Valuation with $100M Funding

Banking

Discover how banks like Morgan Stanley and Barclays use intelligent automation to ensure regulatory compliance, maintain data accuracy, and mitigate risks

Major Banks use DataSnipper

Navigating key challenges

Manual tasks

Manual data entry and reconciliation is time-consuming and error-prone

Data accuracy

Manual work can introduce errors, leading to inaccuracies in reporting

Regulatory demands

Keeping up with ever-evolving regulations is challenging and time-consuming

Insights from DataSnipper customers
+94%
up to 94% efficiency gain when using Document Matching in testing procedures
570
hours saved when processing 36,000 datapoints with Form Extraction
3,000
hours saved within 10 month period for financial statement procedures with FSS
One platform to drive collaboration across audit and finance teams
Internal Audit
Efficiently evaluate and improve the effectiveness of risk management and control processes
Financial Control & Reporting
Analyze balance sheets, income and cash flow statements to assess financial health and performance
Fund Services & Administration​
Reduce manual effort by automating financial statement reviews. Correct inconsistencies, improving accuracy and quality
USE CASES

Mitigate risks, ensure data accuracy and compliance in financial reports

Verification of Interest and Fee Calculations

Review account statements and contracts with OCR. Ensure interest and fees align with product specifications and customer agreements.

Review of Payment Processing Integrity

Automate transaction data comparison between payment systems and bank statements in Excel to ensure payment process integrity and security.

Verification of Customer Onboarding

Verify customer ID and link with account data in Excel, ensuring all checks are completed.

Expense Reports Audits

Extract details from expense reports and receipts, and validate with corporate expense policies.

Compliance with Lending Criteria

Analyze loan applications and approval records. Verify with lending standards and credit policies.

Teams leveraging DataSnipper's Intelligent Automation

“Since we’ve implemented DataSnipper it has greatly reduced the time spent documenting and reviewing workpapers. We are constantly evaluating ways to leverage DataSnipper for SOX testing and Operational Audits. Looking forward to the increased time savings as we continue to integrate the use of the tool.”
Victoria Sporn
Audit Manager – SOX & Financial, MarketAxess
“DataSnipper helps us ensure that every attribute is captured in our testing. The ability to create templates has played a huge role in time savings as preparers. It enhances efficiency in controls testing, potentially cutting time in half with pre-built templates for future tests.”
Ariana Balda
Auditor, The ODP Corporation
“Using DataSnipper introduced an agile approach in our auditing and helped our team of auditors transform their previously traditional mindset and embrace innovation.”
Ziad Frangie
Lead Auditor EMEA, Air Products & Chemical Incorporated
“DataSnipper offers me a great solution to automate and simplify audit work related to annual accounts, data analytics, and interim work that seamlessly ties in with our vision to transform the audit.”
Ivo Mengelers
IT Auditor, Diggle
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