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Banco de Credito e Inversiones (Bci) has signed a three-year agreement with AI solutions vendor QuantaVerse for its Miami branch.

Bci Miami Branch selected the QuantaVerse AI Financial Crime Solutions as an additional tool to mitigate risk, automate investigations and meet anti-money laundering (AML) compliance requirements.

“Bci Miami Branch is committed to serving our customers while working with regulators to continue to maintain a strong, compliant AML program. By deploying the QuantaVerse AI Solutions, we now have a more efficient risk management strategy in place,” said Michele Fernandez, Head of Compliance for Bci Miami Branch and Regional Compliance Officer for the U.S. operations.

“We identified and evaluated several companies that offer AI solutions for financial crime, but unlike the others, QuantaVerse had proven solutions ready to deploy at scale in our production environment,” explained Fernandez. “We were also particularly impressed with QuantaVerse’s comprehensive Financial Crime Report which provides our institution with a quality standard and consistency for SAR reporting obligations by streamlining the process for our investigators.”

“We are pleased to welcome Bci Miami Branch to the QuantaVerse anti-financial crime family,” explained David McLaughlin, CEO and Founder of QuantaVerse. “There are extraordinary operational outcomes that will be realized by streamlining their AML investigation processes, but the greatest outcome will be the Branch’s ability to more effectively and efficiently use their resources to identify financial crimes.”

by Alex Hamilton
Alex is Senior Reporter at IBS Intelligence, follow him on Twitter or contact him at: alexanderh@ibsintelligence.com
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