About

Unit21 provides transaction monitoring and case management services aimed at risk analysis for financial institutions, including banks, fintech companies, payment service providers, and cryptocurrency platforms. The platform utilizes a no-code approach, enabling teams to configure and test scenarios before deployment, which helps reduce false positives and enhances fraud detection. It allows for real-time risk assessment and the ability to block risky transactions, preventing fraud losses proactively. Additionally, Unit21 offers case management features that streamline case handling, automate processes, and prioritize alerts based on risk. This adaptability to changing risk scenarios and compliance requirements sets Unit21 apart from competitors. The company's goal is to safeguard organizations while ensuring a secure experience for their customers, ultimately providing value through reduced investigation times and increased efficiency.

Simplify's Take

What believers are saying

• Growing demand for real-time payment fraud prevention boosts Unit21's market potential.
• Increased interest in no-code platforms enhances Unit21's appeal to financial institutions.
• Unit21's AI-powered tools improve fraud detection and compliance efficiency.

What critics are saying

• Competition from RegTech firms like IDVerse and Kroll may impact Unit21's market share.
• Reliance on AI may lead to biases and inaccuracies in fraud detection.
• Evolving regulatory requirements could increase operational costs for Unit21.

What makes Unit21 unique

• Unit21 offers a no-code platform for risk management, enabling quick adaptation.
• The platform provides real-time risk assessment and blocking of risky transactions.
• Unit21 leverages Generative AI for proactive fraud prevention and risk monitoring.

Help us improve and share your feedback! Did you find this helpful?

YesNo