LogicLoop and Unit21

LogicLoop and Unit21

LogicLoop has been helping Unit21 customers get the most out of their investment in fraud tooling. For instance, a large consumer neobank, a web3 wallet and a B2B neobank, have all had issues working with Unit21, and LogicLoop can help.

Before LogicLoop

Fintechs typically onboard Unit21 to manage compliance and fraud workflows. However, as their business grows, they need more: 

  • They spend months integrating and maintaining Unit21, involving expensive data engineering, product and engineering resources. And when their data schema changes, they have to spend a lot of time re-integrating. A large neobank we spoke with actually ended up having 2 analysts full-time write SQL translations from their schema to Unit21.
  • They cannot experiment on rules easily, or run analyses outside of what Unit21’ s low code interface supports. This is typically beneficial for teams that do not have data experience, but for teams that are analytically-driven, can become a huge source of frustration, leading “I can write this in 3 lines in SQL, how on earth can I do this here?!”
  • They did not have a flexible case management system that let a risk or dispute operations covers standard use cases, but if your compliance and fraud officers need custom views, you’re stuck building it out yourself. 

We see that fintechs have a huge dilemma here. Stick with Unit21 and spend more engineering resources maintaining it or have operations do manual workarounds, or build in-house entirely, which is also very expensive. This is where LogicLoop comes in.

Introducing LogicLoop

‍LogicLoop was inspired by one of Stripe’s most popular internal tools, that a single risk analyst could use to save the company millions per quarter. LogicLoop can help read across business data, write rules that create Unit21 tickets, or write feature tables back to databases that can be ingested into Unit21 to write rules. LogicLoop can work to fill in the gaps with your Unit21 experience, so your risk analyst and operations team have a smooth end-to-end experience: 

Problem with Unit21 adoptionSolution with LogicLoop
Need months of engineering time to integrate and maintainConnect across business data and transform it directly before piping it to Unit21
Cannot write rules flexibly Write rules on your data directly using SQL with no vendor lock-in or learning a new language
Cannot manage cases in a custom interfaceUse LogicLoop’s ticketing system to create custom dashboards, group tickets and track rule analytics

Using and Integrating LogicLoop

What ‍types of rules can you write with LogicLoop? Basically anything as long as you’ve got the data around it. See a list of fraud and risk monitoring templates here.

‍Customers have found that LogicLoop was easy to integrate and onboard (in weeks not months), gave their analysts more control than any existing vendor without having to build themselves.  

LogicLoop is able to reduce review time by 75% and hence headcount, detect fraud within minutes that reduces losses per attack 5x and increases the pace of product delivery. 

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