NASHVILLE, TN - June 10, 2013 - Confirmation.com, the creator and world's leading provider of secure audit confirmation services, announced today that it has joined the British Bankers' Association (BBA) as a professional associate member. As the leading trade association for the UK banking and financial services sector, the BBA represents more than 200 banks and 70 associate member firms.
Confirmation.com is an online service that allows banks to respond audit confirmation requests in a fraction of the time it normally takes with the current paper and mail process. When a bank uses Confirmation.com, they are able to control their audit confirmation process, provide quicker responses, and streamline workflow.
"Over the last 18 months, we have expanded our international footprint because our multinational banking clients wanted a global solution to improve processes and productivity for their account verification services," said Dave Malone, vice president of Confirmation.com. "We are very pleased to be an associate member of the BBA and look forward to providing a more efficient and secure audit confirmation solution for their member banks."
Financial institutions usually consider the process of responding to audit confirmation requests a very low risk, but notable frauds such as Olympus, Satyam, and Parmalat illustrate that not having control of the audit confirmation process creates unnecessary risk for any bank.
"Auditors and financial institutions around the world use our service because the propensity for fraud on a global scale is increasing," said Chris Schellhorn, CEO of Confirmation.com. "As a global solution, we operate from the same rigorous security standards as our international clients, and as a result recently achieved an ISO 27001 certification of our Confirmation.com service. This certification, which is the leading international security standard, proves our commitment to security and operational excellence."
"The BBA is pleased and welcomes Confirmation.com as a Professional Associate member," said Jason Cole, commercial director of the BBA. "We are proud to have an eclectic mix of organisations that support the banking industry, and as the provider of secure audit confirmation services, Confirmation.com will be a valuable addition to our overall membership portfolio."