Circit | Verified Transactions | Open Banking connections

Faster Turnaround Time

Staff time reduced by an average of 2.5 hours per bank account, with a range of 20 minutes to 16 hours depending on the use case and the number of transactions. Tasks automated by using Circit:
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- Requesting statements from client
- Manual typing of bank data into excel format
- Investigating missing transactions
- Re-reconciling of bank accounts
- Ticking and bashing against source docs
- Follow-up with clients for payee/payer details
- Correcting errors on data entry

‘’The Circit Platform has transformed this area of our audit engagements with clients and counter-parties. Confirming balances and arrangements directly with banks and solicitors is now a seamless process, all within one system’’

Gavin Smith

BDO

‘’The Circit Platform has transformed this area of our audit engagements with clients and counter-parties. CThe Circit Bank Confirmations platform has allowed us to move away from spreadsheet trackers and paper requests to one centralised database with digital requests. There is now a standardised approach to all requests and the whole process is now more efficient. Having made the switch in 2019, it has proven to be invaluable during the recent pandemic as clients have seen no interruption or change in the way we work with them through this part of the audit. The platform is very easy to use and even some of our most technology cautious clients have found authorising requests to be straightforward and quick to complete.
confirming balances and arrangements directly with banks and solicitors is now a seamless process, all within one system’’

John Brand

Director of Audit & Assurance

Managing the relationship with our auditors across multiple entities can be a major administrative burden. Circit has completely streamlined many of the most painful processes, and it is simple for my team to use.

Sam Sengupta

Director of Operations for UK & Ireland

Circit has enabled us to transform the audit confirmation process right across our business. Simple and easy to use it gives us a central location from which we can manage all requests to all providers for all our clients. For us it is significantly improving request turnaround times, automating the client authorization process and providing us with the independent audit evidence needed.

Angela Chorlton

Associate Director

The Circit Platform has transformed this area of our audit engagements with clients and counter-parties. Confirming balances and arrangements directly with banks and solicitors is now a seamless process, all within one system

Kevin Foley Partner

Audit and Assurance

AIB continues to look for ways to make our customers’ lives easier through digital transformation. We’re proud to work Circit to enable our business customers to securely authorise audit confirmation requests. Through the time and paper savings that this will create, we’re delighted to provide a more sustainable and efficient way of processing of audits for our customers.” ‍

Peter Vance

Head of Customer Services

"We’re using the Circit platform for all our requests now, and I’m really pleased with how it's working out – the ability to get electronic authorities has been particularly useful given the current circumstances and I love having everything in one place."

Samantha Day

Audit Manager

"Circit has become the backbone of our confirmation request process and we wouldn’t be with out it. Since investing in the platform we have been able to streamline and standardize the end-to-end process significantly saving time and increasing the quality of our client engagements.With Circit we have visibility of all our confirmation requests in one place and we get the independent evidence we need quickly and directly back from our clients’ banks and other providers. It really has transformed the experience for our clients and us."

Vladimir Kolmakov

Managing Partner

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