A modern approach for FIs to fight fraud and automate AML at the speed of fraudsters
Unit21, a global risk and compliance platform that proactively mitigates risks tied to fraud, money laundering, and other financial crime, unveiled its new suite of Anti-Money Laundering (AML) features to help financial institutions (FIs) like banks, credit unions and sponsor banks report fraud faster while maintaining FinCEN compliance at this week’s American Bankers Association Risk and Compliance Conference in Indianapolis.
These AML features complement Unit21’s fraud offering to provide a holistic, purpose-built platform to enhance FI legacy systems. Unit21’s transaction monitoring and case management offerings in one customizable, no-code platform represent a major leap forward in advancing risk and compliance measures within Financial Institutions.
“Financial institutions are inundated with increased criminal activity, multiple reporting and detection tools, and ever-changing regulatory requirements that are causing significant burnout within risk and compliance teams. They shouldn’t have to choose between flexibility and compliance,” said Trisha Kothari, CEO and co-founder at Unit21. “Our platform provides FIs with a simplified yet modern approach to combating fraud and AML that breaks down silos and increases response rates with unmatched speed and clarity.”
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Using Unit21’s fraud prevention and AML automation technology, financial institutions can now monitor, report and deflect criminal activity at the speed of fraudsters from a unified platform.
- Speed with Control: Real-time and near real-time alerts mean FIs can shut down threats as they happen, not after the damage is done. Launch rules or adjust thresholds in minutes, no engineering help needed. Manage and monitor all fraud and AML programs from a single platform.
- Explain with Conviction: Gain full trust of auditors, investigators, and regulators. No black boxes. Unit21 makes every AI-driven decision traceable and audit-ready. With explainable machine learning, crystal-clear risk scores, and human-readable alert reviews, it means FIs have faster resolution times, defensible decisions, and smoother audits.
- Automate with Confidence: Fully automate, file, and format CTRs, SARs, STRs, 314(a), and watchlist checks all within Unit21. Reduce errors, cut down manual work, and stay compliant effortlessly. Get back time to stop what matters: financial crime.
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