Standard Chartered invests in Silent Eight's AI tool to fight financial crime

Tuesday 20 October 2020 11:09 CET | News

Silent Eight, a global technology company using Artificial Intelligence (AI) to combat money laundering and terrorism financing, has completed a new round of early-stage funding.

The investment round was led by OTB Ventures, the largest dedicated VC firm investing in technology businesses originating from Central and Eastern Europe, bringing the company’s total capital raised to USD 15 million. It was also supported by the fintech investment and ventures arm of Standard Chartered Bank.

Founded in 2013, Silent Eight aims to help solve the human cost of financial crime, using machine-learning technology to screen financial transactions against sanctions lists, criminal records, court cases, and other public and private data. The fundraise doubles Silent Eight’s valuation from the company’s 2019 Series A funding, according to the official press release.

Silent Eight’s solutions are deployed by companies in over 70 countries. With a team of professionals in New York, London, and Singapore - together with a tech R&D centre in Warsaw - Silent Eight has launched an on-demand cloud-based AI solution to support continuous real-time name, entity, and transaction screening.

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Keywords: Standard Chartered, Silent Eight, funding, AI, terrorism financing, risk management, compliance, financial crime, banking, transaction monitoring
Categories: Fraud & Financial Crime
Countries: World
This article is part of category

Fraud & Financial Crime

Industry Events