Singapore-based AI startup Silent Eight has won the top spot at the RegTech Association Australia's inaugural pitch fest this year. Silent Eight's artificial intelligence-based tools help financial institutions combat money laundering and terrorism financing. According to Silent Eight's website, it has a passion for AI and a relentless drive to revolutionise the science of due diligence. "To that end, we have invented a groundbreaking system with Artificial Intelligence at its heart, powering through with Machine Learning. Our system has proven so effective, we are working with a number of larger banks and financial institutions to give them a powerful tool to combat Money Laundering and Terrorism Financing."