The agreement continues the use of the QuantaVerse Financial Crime Investigation Platform to support its financial crime compliance efforts for Bci Miami, which is the US arm of Banco de Credito e Inversiones of Chile.
This is an extension of a 2018 agreement whereby Bci Miami selected the QuantaVerse Advanced Detection solution and the QuantaVerse Automated Investigations solution to help the bank reduce false positives, mitigate risk, automate investigations, and more efficiently meet AML compliance requirements.
During this time, Bci Miami investigators used QuantaVerse’s Financial Crime Investigation Reports (FCIRs) which present critical information such as transactional relationships, negative news, money laundering typologies, as well as risk scoring.
Bci Miami’s use of QuantaVerse FCIRs led the bank to explore the adoption of the QuantaVerse High-Risk Entity Report (HRER) to improve the accuracy and consistency of its high-risk entity review program. The QuantaVerse HRER is an entity-specific FCIR that assists financial institutions in conducting periodic risk reviews required by regulators.
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