Tailor-Made Rules Create a Customized BaaS Partner Program

As i3 Bank dove into building a Banking as a Service (BaaS) business line, they leveraged a middleware provider that provided traditional transaction monitoring.  

A year into overall BaaS strategy, i3 Bank analyzed the potential benefits of taking control of transaction monitoring in-house, particularly if there were control and flexibility it required to manage and tailor specific rules for each specific fintech partner. 

After learning of and initially evaluating Unit21, the capabilities and modernization of the Unit21 platform were immediately evident, and particularly scalable for BaaS monitoring activities.

i3 Bank knew they needed a reliable transaction monitoring system to support their plans for growth in BaaS. “To grow our BaaS business, we knew we needed our transaction monitoring software in-house,” recalls Tim Clark, President of i3 Bank.

i3 Bank looked at a handful of the standard transaction monitoring systems, but Unit21 significantly stood out based on its flexibility and customization. 

“The more traditional vendors typically allow you to make edits within their standard criteria, but our critical business need was to be able to make partner-specific rules and workflows–anything but standard.” 

i3 Bank was working against a very tight timeframe for implementation, working towards a Go-Live early in the New Year. Unit21 was able to deliver during the most critical stage of data integration, and performed a 3.5 week technology roadmap project to appropriately incorporated data, and allowed the Go-Live to ultimately be completed timely. 

“Gaining access to the right data is always a challenge in a scenario like this, but I was shocked at the dedication and speed at which the Unit21 team worked. Regardless of the data challenges, Unit21 was the leader in ensuring we were able to get up and running. Our BaaS monitoring capabilities and support to the overall business would not be where it is today without the dedication of Unit21’s implementation and success team. They simply stepped up and got it done–whether easy or hard.”