Silent Eight & HSBC expand partnership for Transaction Screening

By Gloria Methri

Singaporean RegTech Silent Eight has expanded its relationship with HSBC to implement Automated Alert Closure for Transactions automating investigation and resolution of alerts in real time.

To date, Silent Eight supplied HSBC with name screening and adverse media automation solutions that supported the bank in detecting more financial crime, with less friction. This expansion will further improve the bank’s compliance operations.

Ben Rayner, Regional Head for UKI & EMEA at Silent Eight said, “HSBC has demonstrated its ongoing commitment to operational excellence and innovation within financial crime. We are exceptionally proud of our long-standing relationship with the company and their desire to adopt cutting-edge technology to reach their goals”.

Chris Pratt, Group Head of Transaction Screening, HSBC said, “In the realm of financial transactions, precision is paramount. Working with Silent Eight is not only about driving efficiency in screening but ensuring accuracy. Our further investment in Silent Eight technology underscores our strategy to deliver safe automation and improved outcomes for our customers”.

Silent Eight is a technology company that partners with financial institutions to create solutions by leveraging artificial intelligence. Its solution automates the alert screening investigation and closure process by replicating human reasoning and decision-making based on historical case data and continuous learning.

In this manner, Silent Eight enables financial institutions to reduce false positives, increase accuracy, and enhance the auditability of their compliance operations.

The RegTech company works with some of the largest banks and insurance companies in the world, including Standard Chartered, HSBC, and First Abu Dhabi Bank. It is headquartered in Singapore and has offices in New York, London, Warsaw, and Bangalore.