In the News

See how Silent Eight is transforming the financial industry across the globe.
News | 2020-07-17
Fintech Friday: Silent Eight

Martin Markiewicz, CEO of Silent Eight, discussed his company’s origins and top global clients with Efma’s Boris Plantier. What led to the creation of Silent Eight? Silent Eight was founded by a team of engineers and data scientists who are passionate about combating money laundering and terrorist financing to make the world a safer place.  In…

News | 2020-06-12
We will see global champions coming out of Southeast Asia, Wavemaker Partners’ Paul Santos says

In the second episode of Venture Matters TV discussed deep tech startups, the importance of Singapore for the ecosystem, and “zero to one” moments. “Nothing galvanizes like success.” Paul Santos knows what he’s talking about. His firm Wavemaker Partners sold four companies in the past year, creating about USD 400 million in enterprise value. “We…

News | 2020-05-31
SG-based Silent Eight Launches On-Demand AI that solves KYC alerts to support firms during COVID

Singapore – MAS announced in late April the establishment of an accelerator grant to enable growth in the sector and promote digital innovation in smaller Financial Institutions and Fintechs. The accelerator program supports the adoption of digital tools and system upgrades that facilitate business continuity by offering subsidies of up to 80% for Fintechs and FIs…

News | 2020-05-29
COVID-related financial crime nears two million global cases, but AI could help

As the pandemic first spread across the globe, it left behind a trail of financial trauma, enticing financial and cyber criminals to crawl out of the woodwork to capitalize on the damage. According to financial insight provider Refinitiv, the number of global cases of financial crime have risen to 1,880,591 as of the end of…

News | 2020-05-29
Silent Eight Uses AI to Fight Financial Crime

COVID-19 continues to spread in Singapore with now more than 30,400 confirmed cases and over 20 deaths, according to the latest data from the John Hopkins University. Though the numbers continue to rise, with 614 new cases of COVID-19 infection being unveiled just on May 22, the government is planning to further ease restrictions starting next month. On the economic front,…

News | 2020-04-29
Silent Eight: AI in Due Diligence: A New Era for Financial Entities

Being at the core of Anti-Money Laundering (AML) and Know Your Customer (KYC) initiatives, customer due diligence (CDD) processes help banks and financial institutions verify their customers and reduce risk factors associated with any transaction. However, some rudimentary challenges emerge during the CDD process owing to data quality, the lack of a centralized KYC database,…

News | 2019-11-14
Standard Chartered Invests in RegTech Startup Silent Eight

Standard Chartered’s innovation, fintech and ventures unit, SC Ventures, has participated in a Series A funding round for regtech Silent Eight. The AI-powered anti-money laundering and counter-terrorism financing startup raised an oversubscribed US$6.2 million in the round, with OTB Ventures and Wavemaker Partners also participating. The capital will be directed at new hires, with plans…

News | 2019-11-14
Regtech Startup Silent Eight Raises $6.2M in Oversubscribed Series A Round

SINGAPORE-HEADQUARTERED regulatory technology (regtech) startup Silent Eight has raised an oversubscribed US$6.2 million Series A round, it said on Wednesday. Capital raised will be used to hire new employees to support its pipeline of customers in banking and insurance. It has almost 50 people employed globally with 20 in Singapore, and plans to double global…

News | 2019-08-28
ADGM Launches FinTech Awards and Prizes for MENA FinTech Community as Part of FinTech Abu Dhabi 2019

ABU DHABI, UAE, Aug. 28, 2019 /PRNewswire/ — Abu Dhabi Global Market (ADGM), the International Financial Centre in Abu Dhabi, is pleased to launch the inaugural FinTech Abu Dhabi Awards. The awards will be decided by an independent panel of industry experts and will recognise the contributions of leading figures in the FinTech ecosystem. ADGM welcomes nominations for the…

News | 2019-03-29
Big banks are using AI to keep out of trouble

Hong Kong (CNN Business) – Doing business with the wrong kind of client can be extremely costly for banks. HSBC (HBCYF) had to pay $1.9 billion in 2012 to settle allegations that it allowed international drug cartels to launder billions of dollars across borders. ING (ING) took a $900 million hit in September after admitting criminals had moved money through…