HSBC taps Silent Eight for multi-year compliance deal to fight fraud

January 6, 2021

Having closed a $15m funding round in October, Silent Eight has kicked off 2021 by inking a multi-year partnership with HSBC.

The deal will see the RegTech support the bank in enhancing its industry-leading compliance operations and to reduce the risk of financial crime and fraud.

“Given the growth in alert volumes, and unpredictable spikes driven by global volatility, we saw an opportunity with Silent Eight that would give us the ability to close alerts quickly and accurately,” said Matt Brown, HSBC’s group head of compliance services.

Martin Markiewicz, CEO and co-founder at Silent Eight, added, “We’re delighted to find a partner that shares our focus on eliminating financial crime. HSBC’s dedication to this project is just one aspect of their tireless commitment to improvement, and to helping drive AI innovation across the industry. We’re proud to partner with them on their mission to make the world safer.”