Case Study: Bakkt Achieves a 15% False Positive Rate with Unit21

Bakkt cuts SAR filing time by 75% with Unit21

Bakkt, a digital asset platform, faced significant challenges in scaling its fraud detection and anti-money laundering (AML) compliance processes following rapid post-IPO growth. With a goal of expanding from 500,000 to 9 million users, its compliance team was strained by manual processes and the high complexity of monitoring diverse digital asset transactions. They turned to Unit21 for a scalable transaction monitoring and regulatory filing solution.

By implementing Unit21, Bakkt achieved a false positive rate of just 15%, far below the industry average of 90-95%. The solution automated their monitoring and drastically streamlined operations, reducing the time required to file a Suspicious Activity Report (SAR) by 75%, from over 90 minutes to just 20 minutes. Unit21 provided the robust, automated system Bakkt needed to support its massive growth securely and efficiently.

Bakkt