PR Newswire
11 Oct 2022, 15:00 GMT+10
LONDON, Oct. 11, 2022 /PRNewswire/ -- Silent Eight announced an extension to its existing partnership with HSBC to tackle financial crime.
The new service will cover the deployment of Negative News Screening that leverages machine learning to identify individuals who pose a greater risk for money laundering, fraud or terrorist financing. As financial crime continues to present a challenge, banks need to pivot to an increased use of Machine Learning within compliance, and move away from manual processes or alert scoring.
Silent Eights' solution provides a more effective approach to address true matches and resolve the issue of false identifications. With this expansion, Silent Eight will be solving name screening matches across every risk type within HSBC.
"HSBC is dedicated to drive AI innovation in the financial services field, and with Silent Eight's capabilities, we continue our focus on tackling financial crime more effectively and make the industry safer. We are excited to see the value that they will create by integrating Negative News screening into our platforms," said Mark Turkington, Group Head of Financial Crime Detection.
Silent Eight CRO, Matt Leaney, said, "Working with a technology leader like HSBC who is embracing machine learning within compliance is a pleasure for us. It is a true partnership of shared goals and interests, we look forward to deepening our relationship and supporting their goals for many years to come."
About Silent Eight:
Silent Eight makes crime bad business and with its banking, insurance and payment partners is responsible for stopping bad actors accessing the financial system Silent Eight leads the world in Artificial Intelligence solutions for the compliance challenges of today and tomorrow. Spanning customers and transactions, covering Sanctions, Adverse News, PePs and monitoring Silent Eight ensures all potential risks are investigated and decided quickly, accurately and consistently.
SOURCE Silent Eight Pte. Ltd.
Get a daily dose of Asia Pacific Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Asia Pacific Star.
More InformationDHARAMSHALA, India: The Dalai Lama turned 90 on July 6, celebrated by thousands of followers in the Himalayan town of Dharamshala,...
HONG KONG: China has fired back at the European Union in an escalating trade dispute by imposing new restrictions on medical device...
Chinese FM calls for joint efforts in finding right way for China, U.S. to get along China and the United States should work together...
New Delhi [India], July 12 (ANI): In a remarkable decision taken at the 47th Session of the World Heritage Committee, India's official...
How the Wests recklessness is testing Moscows nuclear patience A multipolar world is, by its nature, a nuclear one. Its conflicts...
The Hague [Netherlands], July 11 (ANI): Italy made history after securing qualification for the 2026 Men's T20 World Cup in India and...
WASHINGTON, D.C.: A federal rule designed to make it easier for Americans to cancel subscriptions has been blocked by a U.S. appeals...
BASTROP, Texas: In a surprising turn at Elon Musk's X platform, CEO Linda Yaccarino announced she is stepping down, just months after...
NEW YORK CITY, New York: Former British prime minister Rishi Sunak will return to Goldman Sachs in an advisory role, the Wall Street...
LONDON, U.K.: Physically backed gold exchange-traded funds recorded their most significant semi-annual inflow since the first half...
AMSTERDAM, Netherlands: Some 32 percent of global semiconductor production could face climate change-related copper supply disruptions...
NEW YORK, New York - U.S. stocks rebounded Tuesday with all the major indices gaining ground. Markets in the UK, Europe and Canada...