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Unit21 Overview

Unit21 primarily focuses on risk management related to financial crimes, including fraud and Anti-Money Laundering (AML) systems. Their solutions are designed to provide risk assessment and compliance management support across various industries such as financial institutions, fintech companies, marketplaces, neobanks, payments companies, and crypto platforms.

Unique Value Proposition and Strategic Advantage

• End-to-End Custom Solutions: Unit21 distinguishes itself with a no-code, customizable platform, allowing users to design and execute tailored solutions without engineering expertise. This approach supports quick adaptations to evolving threats and regulations, especially beneficial for fintech and compliance teams.

• Proactive Fraud Prevention: Their system transitions organizations from traditional after-the-fact transaction monitoring to proactive measures, empowering users to detect fraud instances in real time, thus preventing them before they unfold.

• Holistic Risk Monitoring: They offer comprehensive data monitoring rather than just transaction monitoring, integrating diverse data sources to better identify risks across the customer lifecycle while reducing false positives dramatically.

Method of Delivering Their Value Proposition

• Real-Time Monitoring: Leveraging API-based systems for swift responses, Unit21 aids organizations in blocking or allowing transactions instantaneously to mitigate fraud losses, especially crucial in real-time payment systems.

• AI-Driven Capabilities: Automation of routine, repetitive tasks through AI, such as Level 1 AML operations, allows teams to focus on significant risk areas. This includes features like automated SAR filings and enrichment of external data for comprehensive transaction analysis.

• Integrated Case Management: Provides a consolidated view for efficient investigation and resolution of alerts. Their solution centralizes multiple data sources in a user-friendly dashboard, enabling swift decision-making and insights into customer behavior.

• Fraud Consortium: A collaborative approach where members share de-identified data to gain better insights into potential fraud activities, thereby fostering a community to combat financial crimes effectively.

• Customizable Rule Creation: Facilitating rapid deployment and testing of fraud detection rules via an intuitive, no-code interface. Teams can adapt quickly to new fraud patterns without engineering dependency, ensuring agility and speed in rule deployment.

Overall, Unit21's strategic focus is on providing flexible, user-driven solutions that streamline risk management processes across verticals by leveraging advanced technology in a customizable platform. This approach is geared toward minimizing operational overhead and enhancing fraud prevention efficacy while maintaining compliance with financial regulations.