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News

Unit21 announces new AI-Powered features

Friday 8 March 2024 10:25 CET | News

Unit21, a fraud and anti-money laundering solutions provider, has announced its new AI-powered features at Fintech Meetup.  


As per the official announcement, the Ask Your Data and AI Copilot tools are designed to significantly enhance the decision-making capabilities and operational efficiency of fraud analysts, compliance officers, and risk managers. 

Ask Your Data is the market-first AI-driven data analysis tool purpose built for the financial crime sector. With its conversational interface, users are able to query their data in plain English, making complex data analysis accessible and actionable.

Unit21, a fraud and anti-money laundering solutions provider has announced its new AI-powered features at Fintech Meetup.

From identifying transaction patterns to predictive analytics, Ask Your Data aims to facilitate a deeper understanding of trends in an organisation's data and the health of their risk program.  

AI Copilot is designed to help fraud and AML analysts resolve alerts with efficiency. By offering contextual guidance, suggesting decisions, and providing transparent explanations, the AI Copilot serves as an omniscient mentor that seeks to enable analysts to quickly determine what data should be considered in their decisions. This allows analysts to address risky alerts effectively, while spending less time on false positives. 

About Unit21 

Unit21 is on a mission to unite the world's fraud and AML fighters to see the financial ecosystem restored to the pathway of opportunity. The company specialises in solutions that don't just identify but proactively mitigate risks tied to money laundering, fraud, and other illicit activities. Positioned to solve the problem of financial crime, Unit21 has raised close to USD 100 million from Google, Tiger Global, and other VCs. 

In October 2023, Unit21 launched Real-Time Monitoring to help users identify potential fraud. Its Real-Time Monitoring solution was designed to help financial institutions using real-time payment systems, such as FedNow, RTP, Zelle, and others, where low latency is critical. Real-Time Monitoring equips fraud prevention teams with improved capabilities to monitor transactions in real-time, thereby enabling proactive fraud prevention and resulting in substantial reductions in fraud-related losses. 

Source: Link


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Keywords: artificial intelligence, product upgrade, fraud detection, fraud prevention, AML
Categories: Fraud & Financial Crime
Companies: Unit21
Countries: United States
This article is part of category

Fraud & Financial Crime

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Unit21

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