DATE:
AUTHOR:
Unit
Monthly Recap

Product Update: March 2024

DATE:
AUTHOR: Unit

Wire Workflow. We’ve built an automated workflow that streamlines fraud and risk reviews for outgoing wires. If an end-customer initiates a wire that meets specific risk parameters (as determined by your bank partner), the workflow assigns callback, review, and approval tasks for you and your bank partner directly via the Dashboard. The workflow includes a clear audit log of completed tasks and decisions, visible in real-time to all bank partners and Unit customers. We’ll share more details with our clients and bank partners as we roll out the new workflow in the coming weeks.

Dynamic Clearing Period for Check Deposits. You can now set the number of days it takes for your customer’s check deposit to clear and for funds to become available in their bank account. It’s a powerful way to protect against potential losses with additional risk-based logic. To learn more about enabling this feature, contact your Customer Success Manager. (docs)

Deposit Account Control Agreement (DACA). We now offer support for DACAs, which are legal agreements that are signed between third-parties (e.g., lenders) and you or your customers. In a typical scenario, if a borrower doesn’t make the required loan repayments, DACAs enable the lender to gain control of the borrower’s bank account and the funds in it. This further secures the loan and can enable better terms and/or larger amounts. For our bank partners, this update makes it easier to manage DACAs at the account level via the Dashboard. (docs

Rainforest integration. Your customers can easily accept card payments from their customers with this integration. They can also quickly send online payments to their deposit accounts on Unit. (docs)

rainforest integration

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