This SG regtech firm uses AI to thwart financial crime

More: Better Bite Ventures invests in 4 alternative protein startups in APAC. [Read from your browser]( Daily Newsletter --------------------------------------------------------------- Welcome to Tech in Asia's free Daily Newsletter! Get full access to our subscribers-only Daily Newsletter and other insightful analysis on the big and messy topics of Asia’s tech and startup community by [registering here](. --------------------------------------------------------------- IN FOCUS In today's newsletter, we look at: - [How this SG regtech firm leveraged AI to win over StanChart and HSBC]( - GXS Bank's latest credit product for underserved consumers in Singapore - Other newsy highlights such as Better Bite Ventures investing in 4 alternative protein startups in APAC --------------------------------------------------------------- Hello {NAME} As artificial intelligence gradually filters through to daily life, monumental shifts await the job market. In short, millions of jobs will become obsolete as the era of AI takes shape, while demand for talent in machine learning, data analysis, and robotics will spike. However, I believe that AI will eventually be a boon for human society as it frees up workers to focus on more creative, strategic, or high-level tasks. That said, humans don’t stand a chance against AI in certain tasks because the tech analyzes and interprets large amounts of data in real time, helping businesses make more informed decisions and improve efficiency. Martin Markiewicz, CEO of Singapore-based Silent Eight, goes as far as saying that organizations incorporating his regtech startup’s AI-powered solution to fight financial crimes produces similar benefits to hiring “thousands” of human analysts overnight. With big-name backers like Standard Chartered and HSBC as well as US$40 million in the bank from a series B round last month, perhaps Markiewicz’s claim isn't an exaggeration. Today’s premium story charts Silent Eight’s origin, how the startup is tackling financial crime, and why better times lie ahead. The featured piece also provides an inside look at the firm’s revenue and profitability targets. -- Shravanth  ---------------------------------------------------------------  THE BIG STORY [How an SG regtech firm won over Standard Chartered and HSBC with ‘ChatGPT for banks’]( Established by three Polish serial entrepreneurs, Silent Eight uses AI to deal with financial crimes. --------------------------------------------------------------- TRENDING NEWS [GXS Bank launches credit product for underserved SG consumers]( GXS FlexiLoan combines credit line and installment loan features while allowing customers to align repayments with the date they receive their salaries. [Better Bite Ventures invests in 4 APAC alternative protein startups]( The VC firm’s First Bite program injects US$50,000 into each selected startup in the region. [A 10-year-old interviews a tech expert about AI and database management]( Time to throw out the jargon. [SG’s Endowus officially expands to Hong Kong]( Endowus says that it’s the first fee-only, non-commission-based digital wealth management platform in Hong Kong. ---------------------------------------------------------------  VISUAL STORY [SEA tech ecosystem report]( All you need to know about Southeast Asia's startup scene in five minutes. ---------------------------------------------------------------  PRESS PEEKS The following press releases were published as they were received, without any editing from the Tech in Asia team. You too can publish your own press release on Tech in Asia by simply filling in [this form](. 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