What’s new in MindBridge

The Q1 2024 release includes enhancements to Transaction Risk Analytics (TRA), including customizable rules-based control points, a new algorithm for detecting reversing entries, and a control point for identifying new vendors. Updates to the MindBridge API and general usability improvements further enhance platform performance and configurability.

• Introducing customizable rules-based control points in TRA
• New TRA algorithm to detect pairs of reversing entries in your dataset
• New TRA control point to detect your organization’s new vendors
• Enhancements to the MindBridge API
• General platform improvements

New capabilities for Q1

MindBridge releases several updates a year with both new and improved capabilities and features.

Integrate your rules-based controls into MindBridge

TRA now supports the creation of rules-based control points so you can work with MindBridge to customize your analysis based on your existing rules-based tests and methodology. As your organization evolves, having the ability to create new control points will allow you to scale your efforts and incorporate MindBridge into your control activities without sacrificing accuracy or efficiency.

Learn about MindBridge's rules-based controls

Find pairs of reversing entries

“Reversal Pairs” is MindBridge’s newest TRA algorithm, and can be customized to detect pairs of entries that appear to reverse each other within the context of a given category (or combination of categories), so you can surface, track, and manage reversing entries for different use cases in your dataset. Plus, with an adjustable window size, you have control over the timeframe of data available for pair matching.

Reversal Pairs can be added to any TRA configuration. Reach out today to find out how your team can benefit from this new algorithm.

Learn more about the Reversal Pairs algorithm

Surface new vendors in your dataset

MindBridge’s newest control point for TRA, “New Vendor”, compares the current and prior period data to detect instances of vendors that are present within the current period but are absent from the prior period.

By isolating new vendors in your dataset, you can examine unusual vendor patterns, surface and test your most risky vendors, and validate that each new vendor is legitimate. Leverage New Vendor to evaluate the strength of your internal controls and gain greater assurance around reducing the risk of error and fraudulent activity.

New Vendor can be added to any TRA configuration that deals with vendor data, and will run against the data as long as prior period data is provided. Reach out today to find out how your team can benefit from this new control point.

API

Refer to the API reference document for additional details and guidance on the updates below.

API changelog

New API changelog records updates made to the MindBridge API, such as new or updated endpoints, deprecated objects, and more.

Analysis Types

Added the Analysis Type entity, which describes the features of an analysis, as well as the source types used as part of the analysis. This replaces the table of analysis types in the "Analysis" section of the API reference documentation.

• New GET /analysis-source-types/{analysisTypeId} endpoint, which returns an analysis type identified by its analysisTypeId.
• New POST /analysis-types/query endpoint, which queries analysis types given a filter.

Analysis Source Types

Added the Analysis Source Type entity, which describes the required column mappings and steps when ingesting a source with this type. This replaces the table of analysis source types in the "Analysis Source" section of the API reference documentation.

• New GET /analysis-source-types/{analysisTypeId} endpoint, which returns an analysis source type identified by its analysisSourceTypeId.
• New POST /analysis-source-types/query endpoint, which queries analysis source types given a filter.
• MAC_code field label changes to Custom_code if you are using an account grouping that is not based on the MindBridge Account Classification (“MAC”) code system. This is identified by the mindbridgeFieldNameForNonMacGroupings field, which describes which MindBridge field name to use instead.

Analyses

• New POST /analyses/engagement-roll-forward endpoint, which allows you to roll a completed analysis forward into another existing engagement.

Libraries

• New POST /libraries/ endpoint, which allows you to create a new library.
• New PUT /libraries/{libraryId} endpoint, which allows you to update a library.
• New DELETE /libraries/{libraryId} endpoint, which allows you to delete a library.
• New fields added to the Library model, including system and archived, which are queryable.

MindBridge platform improvements

TRA analysis dashboards

• The View by menus on the Risk overview dashboard have been updated for clarity. Now the “Amount” menu is only available if more than one amount type is present in the analysis results.
• Updated content in prior period control point details on the “Expanded entry details” page, accessed via the Data table dashboard.
• Updated the date format used in TRA visualizations.

General ledger analysis dashboards

• Updated default selected date ranges to “Last two months” on the Risk monitoring dashboard in general ledger analyses.
• Resolved an issue that prevented the Risk monitoring dashboard from displaying data for the prior period in a general ledger analysis that uses the periodic time frame and the Not-for-Profit with Funds library.
• Resolved an issue that prevented the Risk monitoring dashboard from generating populations with keyword search terms in a general ledger analysis that uses the periodic time frame.
• Populations created on the Data table dashboard must now use unique names.
• Resolved a filtering issue for populations using the “OR” statement on the Transactions view of the Data table dashboard.
• Improved the legibility of the graph on the Trends dashboard by limiting the number of selectable accounts to a maximum of 10.
• Resolved an issue that prevented the selection and deselection of accounts on the Trends dashboard.
• Resolved conflicting selectable filter options on the Trends dashboard.
• Adjusted colors and text for improved legibility in the Risk by account graph on the Risk overview dashboard.
• Resolved an issue preventing the “Page” column on the Annotations dashboard from showing the correct analysis dashboard source.

Usability

• Updated “Payroll risk analytics” to handle two use cases, so you can customize your TRA configurations to analyze your hourly payroll or your salaried payroll.

• Learn about Payroll risk analytics for salary-based payrolls

  • Learn about Payroll risk analytics for hourly-based payrolls

• Added the ability to export and import libraries that use a custom analysis type.

• Enhanced support for general ledger analyses with multiple periods when using a Not-for-Profit with Fund library.

• Resolved loading issue when generating populations in general ledger analyses.

• Improved e-mail search handling when adding existing MindBridge users to an organization.

• Updated content in invitation and account activation emails for clarity.

• Improved security protocols around selecting a MindBridge account password.

• New look and feel when loading page components on the Audit plan page in general ledger analyses.

Explainability

• Audit plan tasks that are created using the API for general ledger analyses will now appear on the Audit plan page and within exports.
• Resolved an issue preventing the Audit plan page and exported files from displaying updated analysis names in general ledger analyses.
• Updated tooltips on the Data page in TRA analyses.
• Updated error messages for unsupported extensions and file formatting in TRA analyses.
• Updated API error messages for improved clarity.
• Resolved an issue preventing the API’s async result status from reflecting the workflowState of the Analysis Source.
• Resolved an issue preventing the API’s Analysis Source from displaying all elements of the Analysis Source.

Scaling

• Introduced binary and one-hot encoding techniques for enhanced machine learning capabilities in TRA.
• Improved handling of period-over-period analyses in TRA.

Coming soon

• New algorithms and control points for various MindBridge analysis types.
• Improved handling when selecting custom risk scores to export from the Data table dashboard.

Feature phase-out

• In the coming months MindBridge will be ending support for the Audit assertion risk dashboard, currently available for general ledger analyses — your team will be notified well in advance so you can prepare.