Closely observing the scenario, a group of expert programmers, mathematicians, and due diligence consultants set the goal to optimize the entire CDD process leveraging AI, which ultimately led to the inception of Silent Eight—a venture-backed, RegTech company providing an AI-powered solution to help financial institutions combat money laundering and terrorist financing while managing their compliance and risk obligations. “We understand that it is impossible for a financial organization to keep on recruiting employees for achieving the precision and efficiency that they want in the CDD process. To this end, our solution promises to facilitate the time-consuming CDD process through AI while significantly lowering down the chances of inaccuracies,” comments Matthew Leaney, Chief Revenue Officer, Silent Eight.
As opposed to inefficient legacy systems that have limited learning capability, Silent Eight’s AI-powered solution can analyze petabytes of data and provide the human workforce with more relevant information. This allows employees to focus on more complicated alerts that require human intervention.
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Our solution promises to facilitate the time-consuming CDD process through AI while significantly lowering the chances of inaccuracies
Coupled with this, Silent Eight well understands the need for data security when it comes to the highly regulated financial sector. Their product operates within customers’ network, and data can never go out of the firewall. Leaney, in this context, mentions, “When we go into our customer’s networks, we integrate with every single data source that human analysts can use. The more data one can give the platform, the better it can perform.” Not stopping there, Silent Eight also has a cloud offering that benefits for companies working on a cloud-based case management solution.
Honing such capabilities, Silent Eight nurtures an overwhelming global customer base that includes many world-class banks and financial institutions. For instance, the company has helped Standard Chartered, one of the leading financial services organizations to successfully run their anti-money laundering initiatives with cutting-edge machine learning and natural language processing techniques.
Scripting many such success stories, Silent Eight has made a comprehensive roadmap for the coming years. The company is on a mission to bolster its global presence with its cutting-edge solution. “The needle is moving toward where we are. This year, we are to bring in a couple of global customers and continue to evolve our offering to suit their needs. Our entire organization is excited to drive the project toward phenomenal success,” Leaney concludes.
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Company
Silent Eight
Headquarters
Singapore
Management
Matthew Leaney, Chief Revenue Officer
Description
Silent Eight—a venture-backed, RegTech company providing an AI-powered solution to help financial institutions combat money laundering and terrorist financing while managing their compliance and risk obligations. As opposed to inefficient legacy systems that have limited learning capability, Silent Eight’s AI-powered solution can analyze petabytes of data and provide the human workforce with more relevant information. This allows employees to focus on more complicated alerts that require human intervention. In essence, by allowing the human mind and technology to work in liaison, Silent Eight drives a better outcome and enhances the security of transactions.