“Unit21 allows non-technical teams to write intelligent rules that leverage historical data, like transaction history,” Kothari, who cofounded Unit21 with Clarence Chio, told VentureBeat via email. “Standard transaction monitoring for anti-money laundering can be very rudimentary. Black box machine learning won’t work in the compliance space since it is crucial to demonstrate to regulators that there is no bias … Unit21’s key focus is explainability, in the sense that risk and compliance teams have complete control over thresholds and parameters used to detect suspicious activity and hence can reap benefits of more intelligent rules without losing control.”

https://venturebeat.com/2020/10/19/unit21-raises-13-million-to-turn-ai-into-a-fraud-fighting-machine/