‍Pioneering risk and compliance platform brings innovative fraud prevention solutions to financial institutions

San Francisco, CA (November 12, 2024) – The American Fintech Council (AFC), the premier industry association representing responsible fintech companies and innovative banks offering embedded finance, today announced the addition of Unit21 as its newest member. Unit21 offers a no-code, AI-powered risk and compliance platform that empowers financial institutions to effectively monitor transactions, manage compliance, and prevent fraud. As a member of AFC, Unit21 aligns with a community of responsible innovators dedicated to creating a secure and efficient financial ecosystem.

“Unit21’s approach to risk management exemplifies the qualities we value at the American Fintech Council—responsible innovation that helps us build and enable a more inclusive, secure, and transparent financial system,” said Phil Goldfeder, Chief Executive Officer of AFC. “We are proud to welcome Unit21 and look forward to collaborating with them to drive forward-thinking financial solutions that protect customers and institutions alike.”

Unit21’s customizable tools allow banks and fintechs to proactively identify and prevent financial crimes. The platform offers a holistic view of risk, enhancing operational efficiency while maintaining compliance with regulatory standards.

“We’re excited to join the American Fintech Council and work with like-minded companies on the prevention of financial crimes,” said Trisha Kothari, CEO of Unit21. “Similar to the mission of our Fraud Consortium, we believe that in order to fight and win against fraud, industry players need to work collaboratively. This partnership with AFC will do just that. Together, we can create safer, more resilient financial systems that consumers can trust and rely on.”

A standards-based organization, AFC is the premier trade association representing the largest financial technology (Fintech) companies and innovative banks offering embedded finance systems. AFC’s mission is to promote a transparent, inclusive, and customer-centric financial system by supporting responsible innovation in financial services and encouraging sound public policy. AFC members foster competition in consumer finance and pioneer products to better serve underserved consumer segments and geographies.

About Unit21

Unit21 is on a mission to unite the world’s fraud fighters and AML heroes to see the financial ecosystem restored to the pathway of opportunity it was meant to be. We specialize in solutions that don’t just identify but proactively mitigate risks tied to money laundering, fraud, and other illicit activities. Uniquely positioned to solve the problem of financial crime and well-funded, we have raised close to $100 million from Google, Tiger Global, and other leading VCs. Follow us on LinkedIn and visit Unit21.ai to learn more.