Vigilance

Vigilance is software that guards a company against payment fraud. It takes the payment batch files produced by an accounting or payroll system and examines the bank accounts attached to each proposed payment.

The program uses algorithms and artificial intelligence to compare those accounts. Anything odd is flagged for the appropriate authoriser or business owner, so a person can look into it before money leaves the account.

What Vigilance offers

• Batch file import — reads payment files from accounting and payroll systems.
• Bank account comparison — checks the accounts behind each payment against one another.
• Alerts — highlights suspicious items to authorisers or owners.
• Pre-payment review — lets staff investigate before payment is made.

Who it works with

Companies that make supplier or payroll payments from batch files and want a check on payees' bank details.

Key facts

• Category: financial fraud detection software
• Method: algorithms and AI