• Leading financial institution in MENA region selects AI-based platform to process and resolve customer screening alerts related to anti-money laundering and sanctions requirements.

• Silent Eight’s groundbreaking platform allows financial institutions to reduce manual  workloads and risk while maintaining sustainable growth plans.

DUBAI, UAE and SINGAPORE, May 8, 2024 /PRNewswire/ — Mashreq, a leading financial institution in the MENA region, today announced that it has selected Silent Eight to provide Name Screening and Adverse Media Alert Adjudication automation capabilities related to sanctions and anti-money laundering regulatory requirements.

Silent Eight is a pioneering RegTech company whose artificial intelligence-based platform offers solutions across the compliance workflow. This strategic partnership will allow for Mashreq to maintain its innovative solution offerings, reduce workflow and resolution times for compliance alerts, and identify true risks in a faster and more efficient way.

Under the partnership announced today, Silent Eight will provide Mashreq with a solution for Alert Adjudication, in which alerts related to potentially risky or proscribed customers are evaluated, false positives are quickly investigated and closed, and potential true positive alerts are more quickly escalated to Mashreq analysts. Through the efficiency gains offered by Silent Eight’s platform, Mashreq will easily be able to improve its processing rates and reduce friction at the time of customer onboarding.

The multi-year partnership aligns with Mashreq’s core strategy of leveraging digital tools and other innovations in order to enhance convenience for customers and also significantly reduces the bank’s environmental footprint. Thanks to the power of Silent Eight’s AI platform, Mashreq’s compliance and risk professionals will be able to easily identify and investigate alerts that represent genuine financial crime risk.

“Mashreq has stood out amongst financial institutions in the Middle East and North Africa for its commitment to innovative banking solutions, as well as strengthening the overall safety of the global banking system,” said Ben Rayner, Regional Head of UK & EMEA for Silent Eight. “Our Name and Adverse Media Adjudication Platform is perfectly tailored to the compliance and business needs of fast-growing financial institutions, and we’re excited to help support Mashreq’s current and future ambitions.”

“At Mashreq, we are committed to maintaining the highest standards of compliance and regulatory adherence as well as leveraging cutting-edge solutions, and our partnership with Silent Eight is a testament to this commitment,” said Scott Ramsay, Group Head of Compliance & Bank MLRO, Mashreq. “With increasing regulatory requirements surrounding sanctions and anti-money laundering, it is crucial for us to adopt innovative technologies that can effectively and efficiently identify potential risks. Silent Eight’s automation capabilities and AI-driven approach will enable us to stay ahead of evolving threats, ensuring compliance and safeguarding our customers’ interests.”

About  

Silent Eight
Silent Eight is a RegTech company that partners with financial institutions to create solutions  blending the best of humans and the best of technology, leveraging artificial intelligence. SilentEight’s solution, automates the alert screening, investigation and adjudication process byreplicating human reasoning and decision making based on historical case data and continuouslearning. Silent Eight enables financial institutions to reduce false positives, increase accuracy,and enhance auditability of their compliance operations. Silent Eight works with some of thelargest banks and insurance companies in the world, including Standard Chartered, HSBC, FirstAbu Dhabi Bank and Emirates NBD. Silent Eight is headquartered in Singapore and has officesin New York, London, Warsaw, and Bangalore. For more information, visit www.silenteight.com.

About Mashreq

Mashreq is a more than half-century old bank, yet proudly thinks like a challenger, startup, and innovator. Mashreq pioneered key innovations and developments in banking, starting with entry-level digital-first customers, all the way to powering some of the region’s most prominent corporations and wealth accounts.

The bank’s mandate is to help customers find their way to Rise Every Day, partnering through the highs and lows to help them reach fulfillment, achieve financial goals, and unlock their vision of success.

Reassuringly present in major financial centres of the world, Mashreq’s home and global HQ remains in the Middle East, offering services whenever and wherever opportunity takes its customers.

Find your way to Rise Every Day at www.Mashreq.com/RiseEveryDay.

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In a remarkable achievement, QuantPower, the most innovative AI-enabled trading platform, has secured the prestigious title of Best Trading Platform in India for the second consecutive year. This milestone reaffirms QuantPower’s position as the preferred software for Indian investors, offering an unparalleled suite of features that consolidate various trading tools into one comprehensive solution.

Under the umbrella of Wisdom Tree Ventures Pvt. Ltd., QuantPower.tech has revolutionized the trading landscape by providing a unified platform that caters to diverse trading styles. By seamlessly integrating advanced features such as Strategy Builder, Algo Bots, and Backtesting for algorithmic traders, alongside Advanced Charting, Trading from Charts, and Chart Alerts for manual traders, QuantPower empowers investors to make informed decisions with confidence.

Deb Mukherjee, the Group CEO of Wisdom Group, also celebrated the recognition of Wisdom Tree Ventures as the Top Fintech Company of the Year 2024 by Entrepreneur India. This dual triumph underscores Wisdom Tree Ventures’ commitment to innovation and excellence in the fintech sector.

Reflecting on the achievement, Mukherjee emphasized the importance of providing a platform that caters to all trading styles, from algorithmic to manual, while navigating the dynamic regulatory landscape. He highlighted the company’s focus on sustainable profitability, revenue diversification, and cost optimization strategies, which have been instrumental in brand building and delivering value to customers and stakeholders.

QuantPower’s comprehensive suite of features goes beyond basic trading functionalities, offering insights into options contracts, futures markets, and real-time market data. With customizable alerts, MTM Stop Loss/Target, Position Tab, and Order Book, QuantPower ensures a seamless trading experience, enabling investors to optimize their portfolios with ease. It also supports all the major brokers and traders don‘t need to switch between broker and platform as it provides everything from orderbook, position tab, portfolio section as a one stop solution provider. This highly agile software is available in web, android and IOS app respectively.

As the fintech landscape continues to evolve, WisdomTreeVentures.com remains committed to driving innovation, financial inclusion, and sustainability. Mukherjee envisions a future where AI technology plays a significant role in enhancing efficiency and decision-making capabilities, further cementing QuantPower’s position as the leading trading platform in India.

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