GSS partners with Silent Eight to deliver sanctions screening for financial services

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Global Screening Services (GSS) and Silent Eight have announced that following a competitive selection process, Silent Eight’s flagship AI technology will make punitive decisions on the GSS platform.

By implementing Silent Eight’s (Iris) machine learning platform, GSS will evaluate false positives and detect real potential risks faster.

The result will be a significant improvement in sanction screening; both to prevent sanctioned individuals from transferring funds and to expedite the millions of legitimate international payments that are delayed each year.

The GSS model offers a significantly simplified process using technology that leverages a centralized filtering platform, including Silent Eight’s artificial intelligence engine, to provide significant benefits in terms of governance. handle the complexity of filtering millions of transactions and duplicating efforts between financial institutions. The GSS platform significantly reduces obstacles for bank customers, speeds up transactions and improves and sets new standards.

“Sanctions screening is both an international security imperative and a material source of friction in the global financial system. Our collaborative solution creates a new standard for transaction processing that improves standards and tackles friction. We’re delighted to be partnering with Silent Eight to bring its adjudication platform into our ecosystem to help address this global challenge.”
Tom Scampion, CEO of GSS.
“We are proud to be joining forces with GSS to help drive a permanent paradigm shift in the global fight to stop illicit payments and financial transfers. Working together, we are striving to detect and stop ‘bad money’ more quickly and efficiently, while speeding the flow of legitimate transactions through the global financial system. This is the promise of GSS and we are delighted to support them in their mission.”
Martin Markiewicz, CEO of Silent Eight.

Global Screening Service (GSS), a RegTech innovator focused on financial transaction screening, has for the past two years partnered with financial institutions around the world to create a collaborative approach new to compliance, initially focusing on sanctions screening. In October, a partnership with SWIFT was announced, which will provide data privacy and security expertise, as well as support specific sanctions.

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