Bci Miami is the U.S. branch of Banco de Credito e Inversiones, a Chilean bank that has been in the industry for over 75 years. It is the largest Chilean-based bank to operate in the United States. The Bci Group has personal and corporate clients in Chile, Peru, Colombia, Mexico, Brazil, and the United States. They continue to expand their presence worldwide.
With the diverse geographic locations of their clients, Bci had significant challenges with regard to Customer Due Diligence. In addition to having to assess risk for clients in nations with differing political climates, they also needed a solution to effectively onboard international clients without needing them to come in to branch locations. In order to meet these requirements, Bci needed a solution with sophisticated risk-rating that could also be used by account reps in various nations all over Central and South America.
Bci greatly benefitted from Global RADAR’s customizable risk-rating module. Having the majority of their clients in South America, a traditionally higher risk region, it was important that they had the ability to set custom parameters so the risk of their clients was accurate and not overstated. Thanks to Global RADAR’s ability to onboard clients remotely, Bci’s account reps were able to meet with their clients at their convenience; and without needing their clients to come into a branch.
"As an international banking group, Global RADAR’s flexibility has been invaluable. We now have the ability totally customize the risk rating parameters for our clients in various nations—something we could never do before. We now have far more accurate ratings with fewer false positives. In addition, we can provide much better service to our customers without needing them to be physically present at one of branches. Both our compliance department and our clients have been enjoying the benefits since we started using Global RADAR."
~ Michele Fernandez
Head of Compliance
Bci Miami
Global RADAR gave Bci the tools they needed to provide their clients personal assistance in places that would otherwise be impossible. We also gave them the freedom to do risk-rating in a customized way that fits their institution best. Now that Bci is better able to manage clients from all over the globe, they are free to continue their goal of expanding worldwide.
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