Automatic transaction monitoring with a baseline of 15% false-positive rate, instead of industry averages of 90 - 95%
"We engaged with Unit21 because we were trying to solve every problem from a transaction monitoring perspective. We needed to have a system that isn’t relying on our eyes when reviewing accounts. We need to be able to set up rules and automatically get alerts on our 500,000 customers. So 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.
I think Unit21 is going to be a huge help with our first-ever AML Audit. Pulling data is going to be so easy. From a time perspective and how we document things, it’s going to be very nice for the auditors. They will like how everything is in one system and how everything is easy to pull. It’s just going to make my life so much easier. There’d be no way to monitor transactions without Unit21. With the sheer number of transactions and accounts — we’d be done for. Without Unit21, we would be nailed in the audit by the regulators who would say we have nothing in place to prevent money laundering.
Unit21 is going to prevent us from getting regulatory fines with their case management and extensive documentation that can easily be pulled. It’s going to help us stay in line with what our regulators expect from a Money Service Business like us."
Second-to-None Customer Service
"I’m the top manager in compliance, and when I first started with the system, I felt like a deer caught in the headlights. We went live and I didn’t know how to get started on a rule. I didn’t know how to create a rule. Then I received excellent training and all kinds of documentation, and I was ready to go. I went from feeling lost to feeling like I was in the know and can manage the system.
Customer service is on top of everything. I don’t have to wait two days to figure out why I’m having an issue. Reps are engaged and reach out to me more than I reach out to them. They are very customer-facing and willing to get their hands dirty. Unit21 asks us if we are having issues, rather than us having to come to them. The customer service is outstanding, and the team is able to answer any question or problem in 10 minutes. We have tons of vendors and I don’t have anyone as responsive.
The other thing I really love is that Unit21 is consistently re-designing the product to be more user-friendly. They take feedback and continuously strive to make changes, adapting their offering based on customer wants and needs, and a lot of companies don’t do this.
Unit21 is truly a blessing and they make my life easier. That’s all I can ask for. The automation is everything I needed, so I’m very happy. I tell my boss we can never get rid of Unit21!"
Recommending Unit21 to Others Is Easy
"If you want a partner who is there for you and one who cares, responds quickly, is on top of it, who makes sure they respond in a timely manner, you want Unit21. If I don’t respond to an email, Customer Support is following up to make sure the solution they proposed to me worked.
I also love the community slack channel and how collaborative it is. All of the different companies who are using it bring ideas to the table. I’ve never seen that before with another vendor. That network of people using the system to get tricks and tips from each other is more valuable than people realize."
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