HSBC and Silent Eight Expand Machine Learning Partnership

Silent Eight announced an extension to its existing partnership with HSBC to tackle financial crime. The new service will cover the deployment of Negative News Screening that leverages machine learning to identify individuals who pose a greater risk for money laundering, fraud or terrorist financing. As financial crime continues to present a challenge, banks need to pivot to an increased use of Machine Learning within compliance, and move away from manual processes or alert scoring. Silent Eights' solution provides a more effective approach to address true matches and resolve the issue of false identifications. With this expansion, Silent Eight will be solving name screening matches across every risk type within HSBC.