Question: Do you know of a solution that can help us automate budgeting, controlling, and reporting while preventing fraud?

Nasdaq Verafin is a financial crime management system that collects data from hundreds of financial institutions in the cloud. It combines machine learning and consortium analytics to spot payment pattern anomalies, manage anti-money laundering (AML) and counter-terrorism financing (CFT) and flag high-risk customers. It also offers a secure 314(b) information sharing system for financial institutions to share information without fear of false positives and to streamline investigations.

For a more general financial operations system, HighRadius offers an autonomous finance platform to support the Office of the CFO. It automates financial operations like Order-to-Cash, Treasury, Record-to-Report and Accounts Payable. HighRadius integrates with many ERPs and other third-party systems to help improve working capital, accelerate financial closes and increase productivity.

Another good choice is Flagright, an AI-native AML compliance and fraud prevention system. It offers automated case management, AI-based risk scoring, real-time transaction monitoring and customer risk assessment. Flagright's AI algorithms are trained to spot complex patterns to help improve compliance and fraud detection, and it cuts manual task hours and false positives.

Last, Lucanet offers a financial management system that automates financial consolidation, planning and reporting. It integrates with more than 300 systems and offers compliance-ready financial and ESG reports. Lucanet is highly usable and supports global financial operations with multi-currency conversions, ensuring data is accurate and reliable while following industry standards for security and data protection.