AI flags fraud before failure

Startup Transparently.AI has developed a pioneering technology that detects accounting manipulation and fraud using artificial intelligence (AI), predicting the risk of corporate collapse almost instantly.

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This can help a bank make informed decisions about a loan application, an asset manager to evaluate their portfolio risk, or an investor to prevent financial losses by shunning a business that is about to fold soon.

“Imagine if you could predict the collapse of Enron or Wirecard three years before it happened,” Mauro Sauco, chief technology officer (CTO) and co-founder of Transparently.AI, told Singapore Business Review. “Imagine having models that could tell you that — that’s what we do.”