CASE STUDY

Audit-Ready In Just 2 Days With Unit21 Rather Than 2 Weeks

Case Management Screenshot

Audit Ready

Reduced audit prep time from 2 weeks down to 2 days

Self-Sufficient

Independently build & adjust compliance rules

Customization

Highly customizable alerts for a unique fintech aggregator use case
UNIT21 PRODUCTS USED
Transaction
Monitoring
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Regulatory Filing
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“Our prep time for an audit using Unit21 went from 2 weeks to 2 days! This operational efficiency gives us great peace of mind!”
Max Ramsey
Director of Banking Operations, Sila
THE PROBLEM
Manual, Time-Consuming Transaction Monitoring Held Back Growth
Sila, a leading aggregator in the fintech industry, partnered with Unit21 to streamline its compliance processes. 

Before Unit21, Sila dealt with manual transaction monitoring with heavy reliance on spreadsheets and database queries. This process was not scalable and required significant manual effort.

Sila struggled with maintaining full visibility into transactions, creating their own tracking systems without an automated solution, which was not sustainable as they grew.

“We needed a transaction monitoring system that eliminated the manual effort and would grow with us.”

TLDR: Problems

  • Manual Workload: Sila initially handled compliance through labor-intensive manual processes.
  • Scalability Challenges: The existing manual system was incapable of supporting customer growth.
  • Compliance Visibility: Limited visibility with banking partners heightened operational workload.
WHY UNIT21
Flexibly Able To Accommodate a Unique Fintech Aggregator Use Case  
Unit21 helped automate Sila’s transaction monitoring, significantly reducing the manual workload and streamlining daily operations. The setup process was seamless and tailored to Sila’s unique use case, ensuring a smooth transition. 

With Unit21 in place, Sila quickly realized improved scalability, more efficient compliance with banking partners, and a simplified monitoring process that supports ongoing growth.

TLDR: Why Unit21

  • Customizable Rule Creation: The ability to build tailored rules facilitated operational adaptability.
  • Effective Data Integration: Integrated well with Sila's existing systems and unique use cases.
  • Enhanced Compliance Ease: Simplified interactions with banking partners and regulators.
  • Responsive Product Team: Unit21's openness to feedback supported continuous improvement.
“I love the control and visibility Unit21 gives our unique use case and the self-sufficiency I gained to create and manage all our own rules.”
Max Ramsey, Director of Banking Operations, SILA
THE RESULTS
Reducing Audit Prep Time From 2 Weeks to 2 Days
With Unit21, Sila transformed its compliance operations, eliminating manual workloads and enabling the team to manage higher transaction volumes with significantly less effort. The platform’s flexibility in rule creation empowered Sila to tailor monitoring to the unique needs of its diverse fintech partners—something that wasn’t possible with traditional tools.

By streamlining reporting and compliance workflows, Unit21 reduced the time required for key processes, such as transaction monitoring validation reports, from weeks to just a few days. Combined with an intuitive, user-friendly interface and highly customizable alerts, Sila was able to scale efficiently, meeting the complex requirements of both customers and bank partners with confidence.

TLDR: Results with Unit21

  • Audit-ready in 2 days rather than 2 weeks
  • Streamline compliance processes to satisfy banking partners
  • Enable creative solutions for unique operational use cases
  • Facilitate efficient rule creation and alert management
  • Reduce manual workloads significantly through automation
  • Enhance system understanding and usability through UI improvements
“With highly customizable alerts, Unit21 allows us to meet the complex requirements of our customers and bank partners alike.”
Max Ramsey, Director of Banking Operations, SIla
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