Silent Eight, a leading Regtech firm specializing in partnering with leading financial institutions to drive efficiency, greater accuracy and adaptability within their programs against financial crimes, today announced the expansion of its relationship with HSBC to implement Automated Transaction Alert Closure that automates the investigation and resolution of alerts in real time.
To date, Silent Eight has provided HSBC with name detection and adverse media automation solutions that have helped the bank detect more financial crime, with less friction.
This expansion will further enhance the bank’s compliance operations. Silent Eight solutions support HSBC’s dedication to advancing automation and digital enablement.
Ben Rayner , Regional Director for UKI and EMEA at Silent Eight , said: “HSBC has demonstrated its continued commitment to operational excellence and innovation in financial crime. We are exceptionally proud of our long-standing relationship with the company and its desire to adopt cutting-edge technologies to achieve their objectives.
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Chris Pratt , Group Director of Transaction Detection at HSBC , said: “In the realm of financial transactions, accuracy is paramount. Working with Silent Eight is not just about driving efficiency in detection, but also ensuring accuracy. “Our increased investment in Silent Eight technology underscores our strategy to deliver safe automation and better outcomes for our customers.”HSBC Holdings plc, the parent company of HBCE, is headquartered in London. HSBC serves clients around the world from offices in 62 countries and territories. With assets worth $3,021 billion as of September 30, 2023, HSBC is one of the largest banking and financial services organizations in the world.
Silent Eight is a technology company that partners with financial institutions to create solutions that combine the best of humans and the best of technology, leveraging artificial intelligence. Silent Eight’s solution automates the alert detection 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 improve the auditability of their compliance operations.
SOURCE: PRNewswire