Press Releases

Capital Confirmation Introduces New Confirmation Types for Confirmation.com

14 Oct 2009 - 2 minutes read

Last Updated: 10/14/2009 NASHVILLE, TN – October 14, 2009 – Capital Confirmation, Inc., the creator and leading provider of secure audit confirmation services, unveiled today the ability to process seven new confirmation types with its latest product release for Confirmation.com. In addition to asset and liability confirmations, an auditor can use Confirmation.com for a wider range of confirmations including:

Securities Held with Broker
Securities Held with Custodian
Line of Credit
Bond Issue
Escrow Account
Cutoff Statement
Signature Card

“Adding these new confirmation types to Confirmation.com gives auditors a centralized resource for managing all of their confirmations,” said Brian Fox, chief marketing officer for Capital Confirmation. “This is extremely helpful for auditors who use our secure online service for asset and liability requests, but have had to use the paper confirmation form for their investment, line of credit and other types of confirmations. Now it’s a single solution for all financial institution type confirmations.” Expanding Confirmation.com to process these additional confirmation types is also beneficial to financial institutions with Safekeeping, Investment, Corporate Trust and other departments that respond to audit confirmation requests. This new functionality is designed to streamline and simplify the current manual audit support process. “Over the last 18 months, as financial institutions look for greater operational efficiencies, we have seen an increased utilization of Confirmation.com for responding to cash and debt balance confirmation requests,” said Chris Schellhorn, chief executive officer of Capital Confirmation. “Expanding the confirmation types we process allows more departments within a financial institution to experience reduced costs and increased efficiencies."