On February 22, 2024, 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, 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.
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.”
SOURCE: PRNewsWire