Silent Eight has announced the expansion of its relationship with HSBC to implement Automated Alert Closure for Transactions automates investigation and resolution of alerts in real time.
Silent Eight is a Regtech firm specialising in partnering with major financial institutions to drive efficiency, increased accuracy and adaptability within their financial crime programs.
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Silent Eight to improve HSBC’s compliance operations
To date, Silent Eight supplied HSBC with name screening and adverse media automation solutions that supported the bank to detect more financial crime, with less friction.
This expansion will further improve the bank’s compliance operations. Silent Eight’s solutions underpin HSBC’s dedication to advance automation and digital enablement.
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, commented: “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.”
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By GlobalDataSilent Eight is a technology company that partners with financial institutions to create solutions blending the best of humans and the best of technology, leveraging artificial intelligence. Silent Eight’s solution, automates the alert screening investigation and closure process by replicating human reasoning and decision making based on historical case data and continuous learning.
Silent Eight enables financial institutions to reduce false positives, increase accuracy, and enhance auditability of their compliance operations. Silent Eight works with some of the largest banks and insurance companies in the world, including Standard Chartered, HSBC, and First Abu Dhabi
