Richard J Fateman Development for Ocrolus Makers of PerfectAudit Focuses on Audit Accuracy

September 16 19:51 2016

Richard J. Fateman, Development for Ocrolus, is a professor emeritus and former chair of computer science at the University of California, Berkeley. Fateman received a BS in Physics and Mathematics from Union College, and a Ph.D. in Applied Mathematics from Harvard University. His current research focuses on improving OCR accuracy.

Fateman interests include scientific programming environments; algebraic manipulation by computer (programs like Macsyma, Mathematica, Maple, Axiom, Reduce); distributed computing; analysis of algorithms; programming and measurement of large systems; design and implementation of programming languages; digital document analysis (optical character recognition).

Fateman received a BS in Physics and Mathematics from Union College in 1966, and a Ph.D. in Applied Mathematics from Harvard University in 1971. His thesis work concerned the design and implementation of algorithms for the Macsyma computer algebra system. He taught in the Mathematics department at MIT from 1971 to 1974 and then joined the Berkeley Computer Science faculty. Fateman was instrumental in originating the work on Berkeley’s VAX UNIX system, and led the development of the original Franz Lisp at Berkeley. He served on the Common Lisp design committee and on the IEEE 754 binary floating-point arithmetic standards committee. He served as Berkeley’s Computer Science Chair from 1987 to 1990.

About PerfectAudit

PerfectAudit, is a FinTech platform that eliminates the need to review bank and credit card statements manually. The system analyzes PDF statements from all US financial institutions allowing users to quickly and confidently make financial determinations. PerfectAudit extracts the transactions into an interactive, exportable database for the reviewer to search and analyze. All files, regardless of format and quality, are digitized with over 99% accuracy. 

PerfectAudit’s proprietary backend combines transaction detection technology, crowd-sourced data validation, and algorithmic reconciliation. This innovative approach enables PerfectAudit to leverage machine learning, continually enhancing automation while accelerating analysis time. The PerfectAudit API will be available beginning in September and includes analytics such as average daily balance, number of days of a negative balance per month, number of interbank deposits, and number of deposits from outside sources.

Summary statistics are automatically generated, and transactional data can be instantaneously searched. PerfectAudit eliminates the need to manually audit bank and credit statements. E-statements, originals, photocopies, faxes and even documents with pen marks or coffee stains are all acceptable.  Users can instantly find transactions of any defined value and are automatically alerted of potentially missing statements and transfers between accounts. Every transaction is linked via SNAPSHOT to its precise location on the source document. PerfectAudit does not require the applicant to provide bank login credentials whereas many do require this.

PerfectAudit ( goes to great lengths to protect clients’ private information. All files are encrypted at rest with AES-256 bit encryption, and TLS 1.2 is supported for communications. These encryption standards are recommended and used by many financial institutions as well as the federal government. User data is stored with Amazon Web Services, the same platform used by the National Security Agency and the Department of Defense.  Amazon’s ultra-secure facilities are monitored 24/7 by security guards and accessible only by biometric scanning. This infrastructure meets the requirements of an extensive list of global security standards, including: ISO 27001, SOC, HIPAA / HITECH, FedRAMP, and the PCI Data Security Standard. PerfectAudit guarantees the highest level of data protection.

Follow PerfectAudit on Twitter at @Ocrolus

Media Contact
Company Name: PerfectAudit Powered by Ocrolus
Contact Person: Victoria Meakin
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Phone: (646) 850.9090
Address:44 Wall Street, Suite 703
City: New York
State: NY
Country: United States