Vigilant Eye uses software which facilitates a direct connection into your financial institution to pull your data directly from the source.
When registering new accounts, users are directed to an external portal to connect accounts. Your credentials are not seen or maintained in any way by Vigilant Eye.
No. Vigilant Eye only has the ability to view and pull transaction and balance data.
Vigilant Eye is billed on a monthly basis and there is no contract. It can be cancelled at anytime.
Vigilant Eye for Business is an oversight tool designed for business owners. No matter the level of trust you have in your staff, your Vigilant Eye account should remain under your sole control.
Vigilant Eye will automatically pull transactions 3-5 times a day and update analytics to provide continuous oversight.
All monthly reports include a total sum of all income and spending. The report can then be customized to display total spending on specific classifications, month over month change, and specific classification as a percent of total income. Additionally all flags for the month will be listed.
Every Vigilant Eye for Boards account will be provided with three full access (oversight) accounts, and a limited access (transparency) account for every member. Each of the oversight accounts will be issued by Vigilant Eye and cannot be restricted by the administrator. The administrator will have the ability to approve all transparency accounts, issue new transparency accounts, and suspend or terminate transparency accounts.
A transparency account is the term we use at Vigilant Eye to describe the level of access granted to general members. This account includes access to a dashboard for each connected account showing balance and spending data as well as access to a transaction summary page showing aggregate spending by merchant name and merchant classification. The only information these accounts do not have access to is detailed individual transaction information.
No. Vigilant Eye is strictly taking the bank transaction data once connected and does not record or share bank account numbers or names on accounts.
Vigilant Eye uses proprietary analytics designed to identify flags developed from years of experience investigating incidents of fraud and embezzlement. In general the software categorizes every transaction and uses the aggregate spending per merchant category, spending per merchant, and merchant frequency, to perform complex computations that result in unprecedented scrutiny.
Well that depends on your level of involvement. We do not want to replace your accounting software. The problem is that most business owners rely on someone else to manage their accounting software. Especially over time that role becomes complicated and the longer you are away from it, the more foreign it becomes. This results in the owner losing financial oversight. Even accounting software that makes direct links to your bank accounts have an override function, which is a necessity to accomplish its designed task, managerial accounting. With Vigilant Eye, the bank data cannot be altered in anyway. We are not designed to do your accounting; we are designed to detect and prevent fraud and theft.