Wayne-based QuantaVerse has added Banco de Credito e Inversiones, the largest Chilean bank operating in the U.S., to its growing list of customers, writes Michelle Caffrey for the Philadelphia Business Journal.

The fintech company that uses its software to detect financial crimes has signed a three-year agreement with Miami-based BCI. The deal gives QuantaVerse access to the South Florida market, where the geography creates unique challenges.

“It opens us up to a huge opportunity in both South Florida and Latin America,” said founder and CEO David McLaughlin.

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The company’s software analyzes large amounts of data from various sources, including the open, deep, and dark webs for possible suspicious behavior, while taking into account hot spots of unlawful financial activity. The results are then forwarded to an investigator, along with a recommendation on whether further investigation is required.

According to McLaughlin, the company’s product frees up hours of investigators’ time, a bonus as financial investigators are difficult to find and keep.

“Not only does this create efficiencies in their existing business, it allows BCI to grow in a much more scalable and sustainable way,” he said.

Read more about QuantaVerse in the Philadelphia Business Journal here.

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