ComplyAdvantage vs Unit21
Looking for a ComplyAdvantage Alternative?
In the risk & compliance space, many companies like ComplyAdvantage have been selling their enterprise software for years. But long support ticket wait times, product inflexibility, and unreliable SAR reporting automation might be a deal-breaker for you.
If you want a ComplyAdvantage alternative that allows you to:
- Ingest any type of data into a central location to streamline investigations
- Update rules without vendor intervention
- File SARs to FinCEN and goAML using automation
Then you should take a look at Unit21’s infrastructure for risk & compliance teams. With Unit21, you can:
- Visualize all your ingested data for efficient investigations
- Create, test & launch new rules within minutes
- Make fast decisions without logging into multiple systems
Schedule a demo to see how Unit21 compares.
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How Unit21 Compares to ComplyAdvantage
Data Ingestion
Data ingestion via API
Data flexibility: Ingesting of all your data including custom and standard fields
Single Pane view of all your transaction, KYC/KYB alerts and any 3rd party data
Transaction Monitoring
Out of box rules for transaction monitoring
Self-serve administration of rules: create and launch rules by yourself
Shadow Mode for comprehensive testing of rules before launch
Fraud detection models to assess ATO, card fraud & fraud rings
Case Management
Adverse media screening
Alert Prioritization: Using Machine Learning to identify true positives
Automated SAR Filing
Link Analysis to detect fraud rings
Team & Alert Reporting
Agent Queues
Unit21’s Superpowers
Ingest Data with Ease
Unit21 allows you to ingest all of your data, including any custom data or data from 3rd-party providers, into our system using a simple API. Once added to the infrastructure, users can easily visualize transactions, KYC/KYB information, and more in a single pane view. This gives teams a 360-view of their risk & compliance program without having to log out to make a decision.
Monitor Transactions and More
Today’s risk & compliance teams need to monitor more than just transactions to uncover instances of fraud, money laundering, or other financial crimes. Many non-monetary data sources can provide more context into transactions that are not often captured, such as behaviors and device information.
Unit21’s data monitoring allows teams to see beyond transaction data to make informed decisions. Our flexible system can be customized by risk & compliance teams themselves, without help from engineers or vendor intervention. Unit21 also offers machine learning-powered tools like alert scoring to help teams prioritize the most meaningful alerts, reducing backlogs and improving efficiency.
Streamline Investigations
Unit21 streamlines investigations with a highly customizable and automated system of record for customer risk and reviews. To make it simple, the solution also automates SAR e-filing directly to FinCEN.
Connected to both Onboarding Orchestration and Data Monitoring, our integrated case management solution enables risk & compliance teams to conduct their investigations in a single location Unit21 also enables teams to visualize how users are connected to others using network and link analysis.
Reduce False Positives
Within Unit21’s risk & compliance infrastructure, teams can test their rules using shadow mode: a feature that allows rules to be backtested against historical data or forward-tested against current data for model validation. Testing rules before deployment allows you to uncover any possible issues with rule functionality so it can be adjusted as needed.
This leads to reduced false positive rates and more effective rules. Unit21 also creates feedback loops via tagging and data labeling, so that agent reviews can inform rule logic to increase true positive rates and reduce repetitive reviews.
Why Choose Unit21 Over ComplyAdvantage?
ComplyAdvantage offers the basics for AML & Fraud transaction monitoring, but we’ve heard from customers who have made the switch to Unit21 that ComplyAdvantage falls short in key areas like investigation, eliminating false positives, and regulatory filing.
Effectively stopping bad actors requires risk & compliance teams to view all data in a single pane, test rules before deployment to reduce false positives, be able to update rules quickly without vendor assistance to catch evolving fraud schemes, and efficiently submit regulatory reports.
Flexible Rules
- Input your own custom data and create rules specific to your organization.
- Create, update, and optimize rules all without the help of engineering support or vendor assistance.
- Use your own fraud signals to write rules on anything from devices to emails to IP addresses.
Reporting
- Pre-population of SAR form (including Narrative templatization)
- Reporting to banking partners
- Audit trail for any action on any rule, alert, case, or SAR filing
Centralized Data
- Ingest any type of data into a central location to streamline investigations
- Visualize all your ingested data for efficient investigations
- Use your data to analyze users’ interactions or overlaps with others
Trusted By Leading Fintechs, Banks, Lenders, Credit Unions, Crypto Companies, and More
Trusted by startups and the world's largest companies
"We qualified every solution possible. The flexibility and automation of the Unit21 platform made the decision simple. Unit21 is extremely data agnostic, which means we don't need to wait for months to integrate."
reduction in false-positives
within 90 days of using
Unit21
“When rules are capturing fraud fast, you’re creating a good impact for your customers. We’re also able to empower our fraud team so they feel more confident and creative. They aren’t manually looking for alerts and can push the limits of their capabilities."
reduction in fraud loss
and cut investigation
time by 75% with Unit21
“Unit21’s platform is actually built with the customer in mind. Unit21 was also very easy to integrate. We easily saved months of engineering effort if we built this on our own. The case for ‘buy’ has never been more straightforward.”
reduction in alert
investigations times
"Unit21 is solving our biggest problem by monitoring hundreds of thousands of customer accounts. And the best thing is that we have been able to achieve a steady 15% false positive rate. That is a huge deal in an industry where 90 - 95% is the norm."
false-positive rate
achieved with Unit21
and reduced SAR filing
time by 78%
"To create a rule/model on our prior system took a matter of days, from ticket submission through implementation. With Unit21, it takes approximately 1-2 hours to compose the rule syntax, run the validation, and implement."
reduction in rule validation/deployment
time and cut alert
investigation time by 66%
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can help bolster your risk & compliance operations