May 6, 2020   SOURCE: PR NewsWire

Silent Eight Launches On-Demand Cloud-Based AI to Meet Growing AML Needs in Midst of Pandemic

NEW YORK, May 6, 2020 /PRNewswire-PRWeb/ -- Silent Eight today announced the immediate availability of their alert solving AI as a cloud based, on-demand service. The AI is traditionally custom built for large banks to solve name and entity alerts; but now, for the first time, is available to a broader market as a means of supporting alert solving during the COVID-19 pandemic. The custom AI is configurable in as few as two (2) weeks and offers a new way for banks and other financial institutions to solve alerts.

"Unprecedented times really do demand unprecedented responses by businesses. It's an obligation, really, as a business owner to not just protect our employees, but to consider how we can help the community at large," says Martin Markiewicz, CEO and co-founder of Silent Eight.

"How can a RegTech help during a global health crisis? That's not an easy answer, but we can do our best to make our product more broadly available. We can enable institutions to make the world just a little bit safer right now and in this way help others in their fight against financial crime and terrorist financing," says Markiewicz.

Features and benefits of the AI include: 

    --  Fully customized; learns from your institutional AML process and
        experience
    --  Military-grade encryption
    --  Deployable in as few as 2 weeks
    --  No limit on geographies, or hits per alert
    --  Covers any type of alert: AM, PEP, Sanctions, Internal

The on-demand AI will be available starting May 4, 2020, with pricing as low as $10/alert. The unprecedented commercial structure allows customers to only pay for the alerts solved, without any annual commitment. For more information on Silent Eight's on-demand name/entity screening AI visit http://www.silenteight.com.

About Silent Eight: We are a Singapore-based technology company whose mission is to enable financial institutions to fight global crime with the use of our AI. Our name screening solution works with a client's existing due diligence process to solve every alert and reduce regulatory risk. We are currently used by top tier banks around the world.

SOURCE Silent Eight