Tech Talk: Wayne-based QuantaVerse lands major customer
After quietly putting its AI-powered software to work detecting financial crimes for more than a dozen global banks over the past two years, Wayne-based QuantaVerse announced Tuesday a noteworthy customer — the largest Chilean bank operating in the United States.
The three-year agreement with Banco de Credito e Inversiones’s, or Bci’s, base in Miami is a major get for the startup for a few reasons, write Michelle Caffrey at bizjournals.com.
The biggest is the access QuantaVerse will have to the south Florida market, where he said the geography creates “unique” financial crime challenges that the company is eager to face.
“It opens us up to a huge opportunity in both South Florida and Latin America,” said founder and CEO David McLaughlin, noting an old joke that criminals graduate into southern Florida. “It’s very complex. It’s going to be great to prove ourselves [in the region.]”
McLaughlin said its product frees up hours and hours of investigators’ time that they would previously spend doing menial searches for potential red flags. Cutting back on that work can significantly improve the bank’s efficiency as financial investigators are difficult to find, hire and keep, he said.
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