VEON partners with MindBridge on AI-driven audit shift

VEON has agreed a strategic collaboration with MindBridge to change how it governs financial data across its markets, using artificial intelligence to analyse all transactions rather than audit samples.

The Nasdaq-listed digital operator said it will deploy MindBridge's Central Insights Factory as a single platform across its operating companies. VEON said the system will review 100% of financial transactions in real time. The approach marks a move away from sample-based methods used in internal audit and controls.

VEON operates across five countries and said it serves nearly 150 million connectivity customers and more than 140 million digital users. The company has expanded beyond telecoms into digital services, which has increased the volume and variety of data in its finance function.

Governance focus

VEON said the collaboration will apply standardised approaches for verifying financial and operational data. The company linked the programme to transparency and risk management across finance, internal controls, and internal audit.

MindBridge positions its platform around the use of AI models that flag anomalies and risks in accounting and operational datasets. VEON said it expects more consistent insights across its markets from a shared platform, rather than relying on different processes in each operating unit.

The companies described the platform as producing "explainable" insights. They framed this in the context of internal stakeholders such as finance leaders and auditors, and external scrutiny from regulators.

VEON also tied the initiative to its broader AI strategy, which it calls AI1440. The company has used the programme name to describe the use of AI throughout daily operations.

Internal controls

The collaboration centres on MindBridge's Central Insights Factory, which VEON described as a single platform for risk and control insights. The company said it expects the system to generate consistent results across markets, rather than outputs shaped by varying local processes and sampling choices.

In traditional audit approaches, teams select a subset of transactions and test them for compliance with policy and accounting standards. VEON and MindBridge said their approach instead ingests all transactions. They said this gives the finance and audit functions a different view of risk and control performance.

Industry interest in continuous auditing has risen alongside wider corporate investment in AI tools for finance. Companies in regulated sectors have also faced pressure to demonstrate stronger controls and clearer documentation around financial reporting. The two companies presented their collaboration as a response to those operational demands.

"VEON manages extraordinary data complexity across multiple industries and markets," said Kaan Terzioglu, Group CEO, VEON. "As we expand our digital services portfolio across multiple consumer service verticals in all our markets, scalable solutions that support our data governance are a strategic imperative. Our collaboration with MindBridge helps us achieve this ambition as a Nasdaq-listed company. It also aligns strongly with our AI1440 vision - empowering our organization with AI to strengthen transparency, accountability, and confidence in our controls, and ultimately helping us serve our customers better."

MindBridge said it expects a single view of financial risk to shape day-to-day work across finance, risk, and internal audit teams. The company described this as a shift away from isolated analytics projects that sit in specific departments.

"For organizations operating at VEON's scale and complexity, trust is built on visibility and consistency," said Stephen DeWitt. "By bringing all financial transactions into a single AI-driven insights platform, VEON is creating a shared source of truth across finance, risk, and internal audit. This collaboration demonstrates how AI can move beyond isolated analytics to deliver trusted, enterprise-wide insights that strengthen controls, support transparency, and enable better decisions across the business."

Rollout plans

VEON said the deployment will span its markets and operating companies. The companies did not disclose financial terms, a timetable for completion, or whether VEON will consolidate its data into a central environment as part of the rollout.

MindBridge said its platform targets real-time analysis across the full transaction population. That implies changes in data pipelines, access controls, and the way finance teams manage exceptions and follow-up work, particularly in groups that operate across multiple jurisdictions and business lines.

The collaboration also raises questions about how VEON's internal audit function will adapt its planning and testing, and how it will integrate AI outputs into reporting for senior management and audit committees. The companies said they expect outputs that auditors and regulators can assess, given their emphasis on explainability.

VEON said it expects the initiative to sit alongside its wider AI1440 programme as it embeds AI in internal processes across the group.