Unit21

07/27/2023

🏦💸 The recent string of bank failures and associated financial crises has brought the importance of risk management in banking into sharp focus.

As banks facilitate the creation and management of money, unnecessary risk-taking can lead to significant financial losses that can slow down or even stall local and global economies.

In this post, we'll cover everything you need to know about risk management in the banking industry:

Discover what risk management in banking is, and why it’s important. Learn about types of risks banks have to manage, and some tips for doing so effectively.

07/17/2023

🏋️‍♀️🏋️Unfortunately, with the fast pace of today’s digital society, keeping up with new financial crime schemes—and the regulations meant to block them—is an enormous task.

⚡💡That’s why many FIs are turning to RegTech: technology that helps streamline (and even automate) compliance-related tasks.

🤔✏️ This guide will cover in detail what RegTech is, what FIs are specifically using it for, where it helps FIs the most, and what experts are saying to look for in RegTech in the near future:

Learn what Regtech is and how it’s related to similar classes of technology. Discover what Regtech is being used for in finance, and what its future may hold.

06/30/2023

🔍 Seeking to strengthen your company's compliance risk management?

Internal audits are vital to catch and fix deficiencies before external agencies do.
Check out this insightful article on conducting internal audits for regulatory compliance operations.

It offers critical insights and the "5 Cs" framework for effective audits. Discover the importance of internal vs. external audits and gain valuable knowledge on improving operational efficiency. 💼🔒

Read it here:

Learn what internal audits are and why they’re performed. Then discover the steps a company should take to internally audit its compliance risk management program.

06/27/2023

Digital payment systems have become increasingly popular over the past few years. With the COVID-19 pandemic ushering in a new era of contactless payments, the use of digital payment systems has surged.

‍However, with the increase in popularity comes an inevitable increase in fraud. In this article, we will explore whether FedNow will be safer than Zelle with regard to fraud.

💦 Dive in here:

With the increasing popularity of digital payment systems, the risk of fraud is growing. This begs the question: which is safer, FedNow or Zelle? Here, we'll explore the pros and cons of each to give you a detailed comparison.

06/26/2023

🕵️‍♀️ Tired of false positive alerts overwhelming your fraud detection team?

We've explored a new approach to transaction monitoring in our latest blog post. By focusing on entities instead of individual transactions, we can significantly enhance efficiency and effectiveness.

Dive into the full story here: https://hubs.li/Q01VLmb40

06/21/2023

Ever wondered how sponsor banks view ? 💭🏦 Check out our latest interview with fraud fighters from WebBank!

Gain insights into collaboration and privacy-preserving data sharing in .

Don't miss out!🚀🔒 👉

We sat down with Barry Currah and Matthew McQueen to discuss fraud fighting from a sponsor bank perspective, the Fintech Fraud DAO, and the benefits of collaboration in fraud mitigation. Read the interview.

06/16/2023

🏃In today's fast-paced world, there is a growing need for real-time payment methods.

In this article, we will expand upon the various real-time payment methods, their benefits, differences, and drawbacks. 💡

Read it now:

Real-time payment methods offer fast and secure payment options for users. In this post, we'll cover the differences and benefits of each of these payment methods, and how to select the best option for your needs.

05/08/2023

🏦💻 Staying compliant is crucial for banks to safeguard their reputation and operational integrity.

Learn about the different types of compliance, benefits of compliance, and consequences of non-compliance in this must-read article.

Check it out now:

This guide to bank compliance will cover what it involves, why it’s important, how to build a compliance program, and what compliance risks banks may face in the future.

05/03/2023

💵 is rising, causing headaches for merchants, consumers, and financial institutions.

That's why it's essential to identify different types of payment fraud and have both internal and external controls in place to detect and prevent it.

Learn how in this post here:

Learn what payment fraud is and why it’s problematic for FIs, merchants, and consumers. We’ll discuss some common forms and what FIs can do to detect and prevent them.

05/01/2023

Looking to shift your fraud mindset from a reactive approach to a preventative one?

See how Metal Pay made this transition a reality by joining the Fintech Fraud DAO!

With the DAO's free fraud signals, Metal Pay was able to gain valuable insights into their customers' behavior and activities, allowing them to make more informed decisions and prevent fraud more effectively.

😎 Read about Metal Pay's experience with the Fintech Fraud DAO in this case study:

Metal Pay uses Unit21's Fintech Fraud DAO to prevent 50% more fraud. Read the details in this case study exploring how to go from fraud detection to fraud prevention using consortium data.