Unit21’s December Product Update: Empowering Banking Compliance with QA, CTR and More!

December 5, 2023

At Unit21, our continuous commitment to our banking customers takes center stage in our December product update. With 18 product releases in November, we are excited to introduce three key features that showcase our dedication to enhancing compliance and streamlining data integration: QA (also known as Quality Cycles), CTRs (Currency Transaction Reports) and Conditional Mapping in FFIP (Flat File Ingestion Pathway). 

📣 Key Feature Announcements

QA Functionality: Streamlining AML Processes

Customer Problem: 

QA procedures in Anti-Money Laundering (AML) often involve a time-consuming system review and assessment of alert investigations. Legacy QA processes are prone to inefficiencies, leading to unclear insights and difficulties in forecasting the required analyst resources. 

Our Solution: 

Our QA functionality addresses the key challenges associated with manual and time-consuming processes. 

The three essential features include:

  • Classified Queues: These queues are confidential and the content within them are invisible and inaccessible throughout the application, including areas such as prior activity logs, search functions and audit trails. 
  • Checklists with Computable Scores: These checklists allow you to generate exported reports of quality scores for comprehensive assessment
  • Random Sampling: In this new tab, QA managers can generate random samples of alerts, cases and/or filings for review. Filters help narrow down sample size, or you can select sample percentages per agent. 

Introducing CTR Filing with Enhanced Efficiency

Customer Problem: 

Filing Currency Transaction Reports (CTRs) is a mandatory and time-consuming process for Financial Institutions. Managing CTRs efficiently is a significant challenge with stringent deadlines and record-keeping requirements. 

Our Solution: 

Unit21’s CTR solution enhances efficiencies across your entire team. 

  • For Admins: Admins now have the ability to configure alert and case workflow buttons for seamless filing. 
  • For Managers: Managers can efficiently review all CTR filings, reassign them if necessary, and export CTRs individually or in bulk directly to FinCEN.
  • For Agents: Agents can easily create a CTR from an alert or case, search for entities and transactions and autofill information to streamline the entire process. 

Conditional Mapping in FFIP: Empowering Integration 

Customer Problem: 

Integration becomes challenging without a mechanism to map origin to destination fields within the Data Mapping UI.  

The Solution: 

This new feature empowers our customers to:

  • Conditionally map from origin to destination fields within the Data Mapping UI
  • Reduce the number of times needed to modify data before sending it to Unit21
  • Accelerate the implementation process and simplify the integration with Unit21. 

Keep fighting the good fight and know that we’re here to support you every step of the way. 

Contact us (link to support@unit21.ai) anytime with questions or support needs.

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