What’s new in MindBridge?
MindBridge's Transaction Risk Analytics ("TRA") — previously known as MindBridge Flex — is transforming the way financial professionals gain insight, make decisions, and navigate confidently through complex financial landscapes. This release, we're thrilled to introduce a host of new offerings, including a new configuration, new control points, and a new dashboard that you can use to sift through your data.
- Risk segmentation now available in TRA
- New configuration for Revenue analytics
- New algorithms for prior period data
- General improvements
New capabilities for Q3
MindBridge releases 4 updates a year with both new and improved capabilities and features.
Risk segmentation now available in TRA
With greater granularity and filtering capabilities, the Risk segmentation dashboard offers a flexible way to slice and dice your data and enables you to understand categorical risk in ways that are meaningful to you. Now, you can create unique segments to help analyze relevant risk, perform analytics-driven risk assessment, and export key insights uncovered in the data — like transaction data that needs a human touch to test and verify.
Start moving effortlessly from risk assessment activities to viewing underlying entries and transactions responsible for driving risk
Learn about risk segmentation in MindBridge and how to use this dashboard
New configuration for TRA analysis
Revenue streams can be affected by various factors both within and outside your control, making them difficult to review and even more so to predict. Plus, new revenue recognition rules have added complexity to these processes, and simply comparing revenue data to previous periods is no longer sufficient.
Cue Revenue analysis! With a unique set of control points related to revenue analytics to help you identify opportunities and risks across key customer segments. This new purpose-built analysis allows you to quickly surface changes in behavioral trends, see surges of activity, find interesting or unusual payments, and much more.
Learn more about Revenue analysis
New algorithms for period-over-period data
Start leveraging your prior period data to improve the accuracy of risk scoring in your analysis, and gain insight into shifts in trends
- Value Out of Prior Range can determine whether values in the current period are typical or not, based on historical data.
- Volume Change From Prior Range detects period-over-period changes to the volume of activity, and can be used to identify surges or decreases in activity, and to define the expected range for the current period.
These new algorithms can be added to any TRA configuration in MindBridge — reach out to your Account Manager or MindBridge Customer Success Manager today to see how you can start leveraging these new analytics.
Learn about the Value Out Of Prior Range algorithm
Learn about the Volume Change From Prior Range algorithm
General improvements
Usability
- Added new menu to the control point list on the Risk overview dashboard to surface High risk, Medium risk, or Low risk control points in GL analyses
- Augmented available conditions with ability to target specific High risk, Medium risk, or Low risk control points when creating library filters and populations, when using the filter builder, and when creating analysis populations via the Data table dashboard and from within the analysis settings
- Admins can now export a complete user list via the User management tab in the Admin settings
- Currency codes should now be specified when creating analyses via the API
- Updated colors and contrast in API reference documentation to meet WCAG AA accessibility guidelines
Explainability
- Refined contextualization and labelling used in expanded entry details graphs
- New progressive risk score normalization techniques available when configuring TRA analyses
- New dynamic methods for determining risk range thresholds available when configuring TRA analyses
- Updated “Triggered control points” column label to “High risk control points” in the Summary of transaction risk report
- New “Library name” column for additional context in Activity report exports
Scalability
- Added ability to import French language QuickBooks® files via direct connector
- Data table results can now be exported via the MindBridge API
Anything else on your mind? Chat with us or submit a request for further assistance.