Silent Eight Pte. Ltd. offers a customer screening and transaction monitoring platform called Silent Eight. It leverages artificial intelligence technology to help financial institutions manage their compliance and risk obligations and prevent the occurrence of financial crime. The company's vision is to create is to fully optimize the most time-consuming part of a bank’s due diligence process. Silent Eight won the FinTech Abu Dhabi Innovation Challenge, the Monetary Authority of Singapore’s 2017 Fintech Hackcelerator award and it recently won the top FinTech/RegTech award in Australia.
Silent Eight is a Singapore based RegTech firm, backed by leading venture capitalist from Singapore and Silicon Valley. With Artificial Intelligence at our heart, we pioneer a groundbreaking solution for customer screening and transaction monitoring powered by Machine Learning and Natural Language Processing which enable banks and financial institutions to combat Money Laundering and Terrorism Financing.
PRODUCTS & SERVICES:
The platform enables users to search and get relevant information from their systems and applications in an enterprise through machine learning and natural language processing. The company offers its product to banks and financial institutions to combat money laundering and terrorism financing. The live transaction screening solution provides analysts with instant smart alerts that are augmented with easy-to-understand graphical interpretation. The client screening system can acquire data from all available sources and analyze many petabytes and provide faster results.
It's technology uses machine learning algorithms to screen client entities against sanctions lists, criminal records, court cases and other public and private data, effectively doing the work of analysts and freeing up their time to focus on individual cases that require human review. It helps banks to reduce investments in headcount and internal systems, make fewer mistakes and ultimately reduce the risk of fines related to money laundering and terrorism financing.