Standard Chartered invests in AI-powered RegTech Silent Eight

November 15, 2019 | RegTech
Written by FinTech Alliance
Standard Chartered invests in AI-powered RegTech Silent Eight

The funding comes from SV Ventures, the bank's innovation and FinTech unit

In Brief:

  • Silent Eight has raised an oversubscribed $6.2mn in its Series A round
  • The start up uses AI for anti-money laundering and counter-terrorism services
  • Standard Chartered is Silent Eight’s largest client - it has implemented its sanctions screening process in over 40 markets.

What this means

Banks find themselves in a constant digital battle with criminal elements and AI-driven RegTech has a big part to play in helping them protect their systems and their customers.

Read more here

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