HSBC signs for Silent Eight compliance tech

HSBC has inked a multi-year deal with Silent Eight, recruiting the regtech startup in its efforts to fight financial crime.

Silent Eight’s Alert Resolution uses AI to investigate and resolve cases in the same way an analyst would, but, claims the vendor, with greater speed, precision and consistency.

Following a trial, HSBC will roll out the technology within its global compliance organisation to provide case adjudications that are explained and auditable.

Matt Brown, group head, compliance services, HSBC, says: “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.”