Author: Clari5

Abu Dhabi, 8 March 2017. Real-time, Cross-channel Banking Enterprise Financial Crime Management software product company CustomerXPs today announced that it will be showcasing their acclaimed product Clari5 at the upcoming MEFTECH event scheduled to be held at ADNEC, Abu Dhabi on 13 & 14 March.

MEFTECH brings together the entire financial technology community from across the Middle East and North Africa (MENA) region. Featuring industry-leading conferences, a tightly focused trade exhibition and much more, MEFTECH is the definitive platform where top decision-makers share insights with technology providers and collaborate to rethink financial services. Year after year, MEFTECH attracts the MENA financial industry’s best and brightest minds, serving as a conduit for innovative ideas and thinking.

Voted Best Fraud Detection Product by Risk.net and positioned as Enterprise Solution in Chartis RiskTech Quadrant, Clari5 has the world’s largest implementations and is helping banks in over 8 countries, manage more than 500 million accounts. Clari5 is a non-invasive, real-time, cross-channel system that cross-pollinates intelligence from across all channels and business-critical systems including Core Banking, Loans, Mutual Funds, Cards, POS, ATM Switch, Internet Banking, Mobile Banking, SWIFT, Trade, HR, etc. Its unique architecture ensures horizontal linear scaling using commodity hardware.

Rivi Varghese, CEO, CustomerXPs said, “Banks in MENA are under increasing pressure to quickly detect, prevent and block cross-channel fraud and financial crimes across banking channels, products, and core systems in real-time. The efficacy increases dramatically when the bank unifies all fraud management into a single platform with a ‘central-nervous-system approach’ which ensures that the massive compute and data management is performed in extreme real-time, across all channels and in-line with the transaction itself. I am excited that we have a platform like MEFTECH that allows banks in MENA to discover this whole new approach to fraud management.”

CustomerXPs will be showcasing Clari5 at ADNEC D4, Hall 5 along with Finesse, their premier technology partner for MENA.

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Attributes 191% revenue growth to increased uptake for disruptive, real-time cross-channel Enterprise Fraud Management value proposition

 

Hong Kong, 1 December 2016Subsequent to being ranked among India’s Top 50 fastest growing technology companies, CustomerXPs has now made it to the Deloitte Technology Fast 500™ Asia Pacific 2016, a positioning of the region’s 500 fastest growing technology companies.

The rankings are based on percentage revenue growth over 3 years and CustomerXPs grew 191% percent during this period.

Previously CustomerXPs was positioned as Enterprise Fraud Solution in the Chartis RiskTech Quadrant and the company’s flagship product Clari5 was voted ‘Best Fraud Detection Product 2016’ by Risk.net.

Our Asia Pacific Technology Fast 500 winners demonstrate how new technologies are shaping the way we live and work, using innovative solutions to transform business models and simplify the lives of the consumer, ” said Toshifumi Kusunioki, Deloitte Leader, Technology Fast 500 Asia Pacific.

“Making the Deloitte Technology Fast50 is commendable in today’s highly competitive technology industry,” said Rajiv Sundar, Partner, Deloitte in India. He added, “Being one of the 50 fastest growing technology companies in India is an impressive feat and we congratulate CustomerXPs for making the Deloitte Technology Fast50 India with their phenomenal growth rate”.

CustomerXPs CEO, Rivi Varghese said, “With more than 250 mn accounts passing through us daily at some of the world’s largest implementations, we have emerged category leaders for real-time cross-channel Enterprise Fraud Management for banks. Our differentiated ‘human brain’ based cross-channel approach and our 100% implementation success when combined with a highly localized product ensures banks can go live quickly. This recognition is a validation of the growth in adoption of our disruptive solution.”

About Deloitte Technology Fast500TM Asia Pacific Program

The Deloitte Technology Fast 500 is the pre-eminent technology awards program in Asia Pacific, and now in its 15th year, it includes 9 Asia Pacific locations: Australia, China, India, Japan, South Korea, Malaysia, New Zealand, Singapore and Taiwan. Combining Technological innovation, entrepreneurship and rapid growth, Fast 500 companies – large, small, public and private – span a variety of industry sectors from software to biotech. Fast 500 companies play in the SaaS, cloud computing, data analytics, and mobile sectors and are transforming the way we do business today.

 

About Deloitte Technology Fast500 India Program

The Technology Fast50 India program, which was launched in 2005, is conducted by Deloitte Touche Tohmatsu India LLP (DTTILLP), and is part of a truly integrated Asia Pacific program recognizing the India’s fastest growing and most dynamic technology businesses (public and private) and includes all areas of technology – from internet to biotechnology, from medical and scientific to computers/hardware. The program recognizes the fastest growing technology companies in India based on their percentage revenue growth over the past three financial years. www.deloitte.com/in

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee (“DTTL”), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as “Deloitte Global”) does not provide services to clients. Please see www.deloitte.com/about to learn more about our global network of member firms.

Deloitte provides audit, consulting, financial advisory, risk advisory, tax and related services to public and private clients spanning multiple industries. Deloitte serves four out of five Fortune Global 500® companies through a globally connected network of member firms in more than 150 countries and territories bringing world-class capabilities, insights, and high-quality service to address clients’ most complex business challenges. To learn more about how Deloitte’s approximately 245,000 professionals make an impact that matters, please connect with us on Facebook, LinkedIn, or Twitter.

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Dubai, 24 July. Extreme real-time banking analytics specialist CustomerXPs’ today announced its ‘Clari5 real-time Intraday Liquidity Monitoring Solution‘ – a packaged, ready-to-deploy solution to help banks in the UAE achieve timely compliance with BCBS 248 requirements for Intraday Liquidity Risk Management. Besides mitigating intraday liquidity risk, banks in the UAE can now expect complete compliance with the BCBS 248 regulation in time for the January 2017 deadline. The solution integrates data across all systems in the bank and also provides the flexibility for on-premise or cloud deployment.

In April 2013 the Basel Committee on Banking Supervision (BCBS) had published a set of new regulations for banks – ‘Monitoring tools for intraday liquidity management’ (BCBS 248) – a set of monitoring tools focusing on intraday liquidity monitoring and reporting mandates that mandates banks worldwide to comply with 7 key intraday liquidity monitoring measures. The tools are meant to enable regulators and supervisors to have sufficient information to monitor banks’ intraday liquidity risk and their ability to meet payment and settlement obligations on a timely basis under normal and stressed conditions by assembling necessary data.

The BCBS intended banks to start using the monitoring and reporting tools from January 2015, with full implementation by January 2017. Since then, regulators worldwide have begun setting target dates for BCBS 248 compliance and banks have realized that they need to quickly come to terms with BCBS 248.

Given the time-sensitivity of the new BCBS regulations, the Central Bank of the UAE made a proactive and decisive move towards ushering better compliance and governance in the region. In 2015 the regulator published qualitative and quantitative liquidity management requirements for UAE banks. The quantitative liquidity requirements are categorized into (a) UAE specific: the eligible liquid asset ratio (ELAR) and the advances to stable resources ratio (ASRR) and (b) Basel III: the liquidity coverage ratio (LCR) and the net stable funding ratio (NSFR).

UAE banks can either apply UAE-specific ratios or (with CB UAE approval) Basel III ratios. Banks wanting to apply Basel III ratios must demonstrate that they have the necessary governance, controls and processes frameworks in place and show they comply with qualitative liquidity standards. As an outcome banks have set goals to identify the key issues (in the setup of their current liquidity management practices), compile quantitative regulatory measures and determine development needs in a timely and structured fashion.

The situation also demands that banks in the UAE have available a robust, high-performance solution that enables real-time monitoring of intraday liquidity both from a risk management, as well as a regulatory compliance perspective.

CustomerXPs’ Clari5 BCBS Intraday Liquidity Monitoring Solution equips banks with entity and currency level insights into payments and settlements as well as intraday liquidity in real-time. Besides providing a ‘Monitoring Tool Reporting Platform’, the solution also offers real-time/near real-time monitoring of intraday liquidity position, trend analysis and automated alerts for effectively managing intraday liquidity risk.

Clari5 adopts a non-invasive implementation with minimal disruption by re-using existing data flows and connections and shrinks regulatory compliance timelines from months to weeks. Clari5 is suitable for banks of all sizes, from domestic banks operating via select clearing partners to correspondent-service providers with multiple direct clearing partnerships.

“Clari5 is the central nervous system trusted by large banks globally and in the region. Real-time intraday liquidity management is a module within this theme and like our other Clari5 solutions, this too is a bolt-on system that leverages existing investments and processes, with quicker go live and with a low infrastructure footprint”, said Rivi Varghese, Chief Executive Officer, CustomerXPs

Clari5 BCBS Intraday Liquidity Monitoring Solution also provides a strategic roadmap to complete enterprise liquidity monitoring and management through deployment of additional components from the CustomerXPs Real-time Transaction Architecture. Clari5 BCBS Real-time Intraday Liquidity Monitoring Solution is based on the CustomerXPs Real-time Transaction Architecture, which is common to all CustomerXPs solutions.

Clari5 BCBS Intraday Liquidity Monitoring Solution Highlights:

• In-built rules engine to compute intraday liquidity positions that are required to be reported as per BCBS guidelines
• Comprehensive Intraday Liquidity Pattern Detection Engine with an ability to dynamically add new scenarios & rules and deploy them instantly
• Cross-channel integration with multiple core systems to factor in the entire behavior to help identify suspicious patterns resulting in intraday liquidity risk
• Fully integrated Case Management System to monitor all Intraday Liquidity Monitoring Alerts generated by the system and perform additional investigation
• Regulatory Reporting Workbench to electronically generate and file any report required either by the Central Bank or law enforcement agencies
• Management Reporting Workbench to keep the bank’s senior management in the know about accounts displaying fraudulent behaviour
• Scenario Authoring Tool for configuring out-of-the-box scenarios