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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.”

Silent Eight CEO Martin Markiewicz says the company is honoured to receive the #ACCELERATE RegTech pitch fest award.

“This award endorses our proven proposition in helping financial institutions to leverage AI to combat money laundering and terrorist financing,” he says.

“We strongly believe that innovation in AI technology has a transformative effect on banking services and we look forward to working closely with banks in Australia so they can benefit from our powerful technology.”

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