Business travel platform Navan has announced a new Audit Engine, a transaction screening system with over 45 configurable audit checks that incorporate anti-corruption and anti-bribery flags. By integrating global risk intelligence used by top financial institutions, Navan can now protect against high-stakes threats, such as sanctioned and politically exposed individuals, in real time, according to the announcement.
The Navan platform already actively enforces travel and expense policies for its customers. Review millions of transactions against detailed spending policies and automatically approve compliant expenses while flagging those that require attention. All done at the point of purchase. Rapid advances in AI have enabled Navan to further evolve and screen for a wider range of risks across transaction data, receipts, travel and participants, according to the announcement.
“Finance teams typically rely on multiple systems and people to identify risk, fraud, and policy violations,” said Yuval Lehua, chief product officer for payments and expenses. But, he continued, “Securing your business is fundamentally a data and volume problem, and Navan’s AI is uniquely positioned to solve that.”
According to Refua, the audit engine uses multiple large-scale language models to test every transaction against customizable audit checks. “Navan eliminates hours of detective work and allows us to focus on only the transactions that truly require human judgment,” he said.
