Rabobank and Circit form strategic partnership to elevate audit standards

Source: Circit.io

Circit, a leading platform for audit confirmations and Open Banking, proudly announces a strategic partnership with Rabobank, a global leader in sustainable financial services. Together, they are introducing an innovative embedded audit solution that enables real-time access to verified financial data from Rabobank customers.

This collaboration marks an important step toward digitalisation and increased efficiency in the accountancy sector. By creating direct integrations between banking data and audit platforms, financial audits become more reliable, faster, and more secure.

Addressing key challenges in the sector

The accountancy industry has long faced two major issues:

• A growing shortage of skilled personnel
• Increasing pressure on audit quality

The joint solution from Rabobank and Circit tackles both challenges. By enabling real-time data access, manual work is significantly reduced, errors are minimised, and audits can be conducted more efficiently, without compromising quality.

What makes this partnership unique

• Real-time financial data access: Circit allows auditors to retrieve verified data directly from Rabobank.
• Secure and independent: Circit is directly regulated under PSD2 for Open Banking, ensuring auditors can trust the independence and security of the data.
• API integration by Rabobank: Rabobank has developed an embedded service that enables access to batch transaction data directly via API, saving time and reducing risk. This embedded service is now available on Circit’s platform.
• Customer convenience: Rabobank clients can securely share their financial information at any time, with ease.

“This partnership makes it easier than ever for clients to share financial data, while laying a solid foundation for reliable, future-proof audits,” said Frans van der Lugt, proposition manager embedded services at Rabobank.

Jaap de Waard, vice president business development at Circit, added: “We are delighted to announce the partnership with Rabobank.

“The addition of batch transaction details makes it simple for auditors to collect the highest quality audit evidence as a data source for AI, to increase the effectiveness of audit analytics and make compliance work, such as WWFT checks, much easier. This all contributes to lowering the administrative burden for corporate Rabobank customers.”