Trustmi launches compliance solution for business payments

Trust Mi announced Sarbanes-Oxley (SOX) compliance solution for corporate payments.

The artificial intelligence-powered solution aims to simplify reporting and ensure compliance with the growing regulatory requirements faced by organizations, the business payments security provider said in a press release Thursday (January 25). stated in the release.

“We are changing the way companies approach compliance by moving from reactive, manual operations to automated business processes,” said Shai Gabay, Trustmi CEO and co-founder, in a release. It’s changing,” he said.

Among other things, the Sarbanes-Oxley Act aims to make corporate disclosures more timely and transparent. The law requires senior management to sign off on the accuracy of financial reports.

According to the release, many organizations struggle with the complexities associated with SOX compliance. Existing tools typically take a reactive approach to SOX reporting, simply identifying past incidents and addressing gaps after they occur.

This approach is no longer acceptable under the Securities and Exchange Commission’s latest rules adopted in July, the release said. These rules require organizations to disclose any significant cybersecurity incidents they experience, as well as information about cybersecurity risk management, strategy, and governance.

To address these challenges, Trustmi’s SOX compliance solution enables organizations to take a proactive and automated approach to compliance audits, following releases. By leveraging AI, the solution provides visibility, continuous monitoring, and real-time reporting, eliminating the need for manual point-in-time audits.

Access to real-time insights and integration with existing systems allows teams to focus on core priorities, according to the release.

Business payments are particularly vulnerable to cyber-attacks, and it is important for businesses to secure all aspects of the B2B payment process to ensure regulatory compliance, the release states.

According to the release, Trustmi’s SOX compliance solution establishes a baseline for payment and approval flows through AI capabilities. By identifying legitimate patterns and highlighting anomalies, organizations can validate compliance requirements, apply controls to new processes, and prevent SOX violations in real-time.

Eli Ben Nun, chief technology officer and co-founder of Trustmi, said in the release: “Trustmi does all the heavy lifting, giving customers confidence in their control and compliance status.”

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