Case Study: Bakkt cuts SAR management time 75% and holds a 15% false-positive rate with Unit21
Key results
The challenge
Following its IPO, Bakkt, a digital-asset platform, needed scalable fraud and AML systems as it grew toward a goal of 9 million users from a base of 500,000. Its compliance team was responsible for both fraud and AML across hundreds of thousands of accounts with diverse transaction types, and existing processes lacked the automation to support that growth.
The solution
Bakkt adopted Unit21's transaction monitoring and regulatory filing platform to automate alerts, case management, and SAR documentation across all customer accounts.
“Unit21 is monitoring hundreds of thousands of customer accounts. And the best thing is that we have been able to achieve a steady 15% false-positive rate.”
KKKailey KleinCompliance and AML Officer at Bakkt
The results, in context
Bakkt reported a 75% reduction in SAR management time and a steady 15% false-positive rate while monitoring hundreds of thousands of customer accounts. The figures are documented in Unit21's Bakkt customer story.