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October 2021 Issue

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Clari5 Launches Real-time Enterprise Fraud Management System on TCS BaNCS Marketplace

Clari5 partnered with TCS to showcase its category leading real-time financial crime management solution on TCS BaNCS Marketplace. TCS BaNCS provides comprehensive set of solutions across Banking, Insurance and Capital Markets. Clari5 Real-time Financial Crime Management solution is now available on TCS Bancs Marketplace.

UAE Central Bank Issues New Anti-Money Laundering Guidelines

The Central Bank of the United Arab Emirates (CBUAE) has recently issued new guidance to help Licensed Financial Institutions (LFIs) with their Anti-Money Laundering (AML) and Combatting the Financing of Terrorism (CFT) statutory obligations under the legal and regulatory framework in force in the UAE.

As the CBUAE embarks on this complex and crucial task of enhancing its national AML and CFT framework, Clari5’s Real-time Anti-money Laundering system provides the right solution to support LFIs on their journey to compliance with their AML and CFT obligations.

World FinTech Report 2021

Covering banking in the FinTech era, the World FinTech Report 2021 from Capgemini and Efma explores how successful FinTechs have breached the profitability barrier and analyzes alternative options for banks to alleviate the competitive threat. Discover how banks can implement digital-only subsidiaries with the “right-field” approach to be successful in the FinTech era.

What Got You Here Won’t Get You There

Even as regulators step up their scrutiny of bank compliance, fraud and money laundering schemes are getting more and more sophisticated. Banks therefore have no choice but to elevate their crime-detection and crime-fighting capabilities. Defence mechanisms will increasingly include more powerful analytical models, AI and the aid of financial crime regtech specialists.

September 2021 Issue

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Free Webinar – The Need for Real-time Cross Channel Intelligent Fraud Detection in the Digital Era

Machine Learning and AI have long resonated with the tech savvy, but how can your bank leverage these technologies to strengthen your bank’s defences against financial crime? Clari5 brings this webinar to help you gain insights from the experts and discover ready-to-deploy solutions that can be integrated easily and cost effectively. Discover how to deal with the new realities in a post-pandemic world. Register now!

Clari5 Launches Real-time EFM and AML Apps on Finastra’s FusionFabric.cloud

Clari5 Real-time Enterprise Fraud Management System (EFM) and Real-time Anti-Money Laundering System (AML) applications are available for purchase through Finastra’s FusionStore. The category leading enterprise applications provide banks and financial institutions with the finest solutions for Real-time financial crime management.

Tackling Money Mule Frauds During Covid- 19

There’s a rise in fraudsters taking advantage of the socio-economic conditions created by the COVID-19 pandemic, to pull off money mule scams. Besides stealing economic stimulus payments and unemployment benefits, money mule fraudsters are flourishing on opportunities during the crisis.

An Innovative Approach to Loan Early Warning System

Given the slackening pace of growth preceded by a spike in quantitative easing and flush liquidity in many countries, severely impacted corporate borrowers’ debts servicing, and consequently, there’s a higher potential for loan defaults. This whitepaper examines critical early warning indicators and scenarios, why multidimensional inputs are crucial to LEWS efficiency & the need for an innovative approach to it.

August 2021 Issue

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Clari5 Launches Real-time EFM and AML Apps on Finastra’s FusionFabric.cloud

Clari5 Real-time Enterprise Fraud Management System (EFM) and Real-time Anti-Money Laundering System (AML) applications are available for purchase through Finastra’s FusionStore. The category leading enterprise applications provide banks and financial institutions with the finest solutions for Real-time financial crime management.

Uganda’s second largest bank Activates Real-time AML Reporting with Clari5

dfcu bank wished to automate and streamline their AML compliance to stay compliant with existing and emerging AML/CFT regulatory compliance mandates. Read how Clari5 helped the banking leader achieve regulatory compliance.

Combating Money Laundering from the Cloud. Are Banks Ready?

Until recently, ‘the cloud’ used to be a bugbear for the banking industry. Banks were hesitant to move vital data and information from in-house environments to the cloud, least of all for financial crime risk management.

Clari5 Clarified

Learn how Clari5 can help your bank stay ahead of the fight against financial crime. Frequently asked questions about the category leading Banking Enterprise Financial Crime Risk Management Product.

Clari5 Launches Real-time Enterprise Fraud Management and Anti-Money Laundering Apps on Finastra’s FusionFabric.cloud

Posted on by Clari5

London, 09 July, 2021: Clari5, the unified real-time, cross-channel platform for bottom-line protection and top-line growth, today announced that its Real-time Enterprise Fraud Management System (EFM) and Real-time Anti-Money Laundering System (AML) applications are available for purchase through Finastra’s FusionStore. The category leading enterprise applications provide banks and financial institutions with the finest solutions for real-time financial crime management.

Going live on FusionStore marks the final stage of the app development journey for firms using Finastra’s open development cloud platform, FusionFabric.cloud. The FusionStore marketplace enables Finastra’s customers worldwide to access, test, purchase and deploy certified apps on top of Finastra core systems, helping them quickly realize the benefits and deliver added value to their customers. Read More

July 2021 Issue

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Uganda’s second largest bank Activates Real-time AML Reporting with Clari5

dfcu bank wished to automate and streamline their AML compliance to stay compliant with existing and emerging AML/CFT regulatory compliance mandates. Read how Clari5 helped the banking leader achieve regulatory compliance.

World Fintech Report 2021

Covering banking in the fintech era, the World Fintech Report 2021 explores how successful fintechs have breached the profitability barrier and analyzes alternative options for banks to alleviate the competitive threat. The report also reveals how banks can implement digital-only subsidiaries with the “right-field” approach to be successful in the fintech era.

Clari5 Loan Early Warning System

Given the slackening pace of growth preceded by a spike in quantitative easing and flush liquidity in many countries, corporate borrowers have been severely impacted in servicing their debts and consequently, there’s a higher potential for loan defaults. A robust Loan Early Warning System helps interpret vital insights from key indicators and activates the signals well in advance.

19 Ways Covid-19 Is Reshaping Banking

Notwithstanding the new normal, banks are learning as they go and applying what they learn, to sustain the trust that customers have placed in them. With consumers’ increasing comfort levels with technology, the pandemic has been accelerating the pace of change. Here’s a quick look at 19 things that have been changing during the crisis.

dfcu Bank, Uganda Activates Real-time AML & goAML Reporting with Clari5

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Uganda’s second largest commercial bank wished to automate and streamline their AML compliance initiatives to stay compliant with existing and emerging AML/CFT regulatory compliance mandates – domestic, as well as global. Read how Clari5 stepped up to the challenge and helped dfcu Bank automate their regulatory compliance program.

June 2021 Issue

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Combating Money Laundering From The Cloud. Are Banks Ready?

Until recently, ‘the cloud’ used to be a bugbear for the banking industry. Banks were hesitant to move vital data and information from in-house environments to the cloud, least of all for financial crime risk management.

Automated Payments Fraud Reporting to RBI

Indian Issuer Banks and PPI Issuers can now ensure comprehensive, transparent and auditable Payments Fraud Reporting to RBI in an automated, unified and integrated fashion. Clari5’s single-point modular fraud reporting platform synchronizes with all data source channels and streamlines the entire RBI reporting process end-to-end, right from data upload through to report generation.
 

eBook: Top 10 Fraud Threats Impacting Banks

“Prevention is better than cure” is an enduring maxim that applies equally well to the banking industry combating fraud. Read the Clari5 eBook to know the top 10 threats afflicting banks, the symptoms and the curative measures.

Dealing with Digital Friction in Uncertain Times

The pandemic put certain critical aspects of the banking universe in the spotlight, including that of customer experience – a vital factor during extreme times. Imperative therefore to re-visit how customers’ digital experiences can be made frictionless during an exceptionally difficult phase.
 

May 2021 Issue

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Automated Payments Fraud Reporting to RBI

Indian Issuer Banks and PPI Issuers can now ensure comprehensive, transparent and auditable Payments Fraud Reporting to RBI in an automated, unified and integrated fashion. Clari5’s single-point modular fraud reporting platform synchronizes with all data source channels and streamlines the entire RBI reporting process end-to-end, right from data upload through to report generation.

Fino Payments Bank wins Celent Model Risk Manager Award 2021!

The Celent Model Risk Manager Award is a distinguished recognition of project excellence and winners are determined based on best practices use of technology in financial risk management, operational risk management, cross risk, and financial crime. Fino Payments Bank won the premier award for flawlessly implementing + quickly going live with Clari5 Enterprise Fraud Management, despite the challenging Covid situation.
 

Clari5 Clarified

Learn how Clari5 can help your bank stay ahead of the fight against financial crime. Frequently asked questions about the category leading Banking Enterprise Financial Crime Risk Management Product.

Ciao Dear Cheque!

With digital payments rapidly creating a cashless economy, the cheque has begun heading for the exit door. But there are vast populations that still rely on cheques for transferring funds, so a complete shift to a paperless economy & society is still a little away.
 

Clari5 Customer Fino Payments Bank Wins Celent Model Risk Manager Award 2021!

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9 March 2021, Boston. Clari5 customer Fino Payments Bank won the prestigious Celent Model Risk Manager Award 2021 for the ‘Remote implementation of Enterprise-Wide Fraud Management During the Pandemic’. Fino Payments Bank implemented a modern, AI-enabled enterprise-wide fraud solution from Clari5 across all its channels.

This project is one of the first benchmark success stories of a mission-critical real-time, cross-channel Enterprise-wide Fraud Risk Management (EFRM) solution being activated in Asia Pacific amidst a never-before-of-its-kind crisis situation (the total national lockdown in response to the COVID-19 pandemic) and that was managed and innovatively implemented in a 100% remote fashion. The solution is currently processing transactions of over 1.7 mn+ customers across 200,000 banking points. The EFRM solution also ensured comprehensive compliance with stringent regulator guidelines for early detection / reporting of fraud.

About Celent and Model Risk Manager 2021 Award

For over 20 years, Celent has helped senior executives make confident decisions around their technology strategies to execute at scale. As the financial services industry rapidly evolves, there is more complexity, with new regulations, startups, technologies, and applications to stay on top of and prioritize. Celent helps connect this ever-changing puzzle by offering objective advice and clarity, backed by a database of thousands of solutions and award-winning global best practice use cases.

Every year, Celent recognizes excellence in the usage of technology through their Model Insurer, Model Bank, Model Risk Manager, and Model Wealth Manager Awards. The awards recognize a financial institution’s effective use of technology in different areas, often representing a best practice, and are designed to answer the deceptively simple question: What would it look like for a firm to do everything right with today’s technology? Of course, no firm is a “Model” firm across the board. Therefore, Celent focuses on specific real-world examples of individual technology initiatives. Case studies for the winning initiatives are presented through the annual reports detailing how and what they did to succeed.

The Model Risk Manager Awards recognize best practices use of technology in different areas critical to success in financial risk management, operational risk management, cross risk, and financial crime. Read More

April 2021 Issue

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Fino Payments Bank Wins Celent Model Risk Manager Award!

The Celent Model Risk Manager Award is a distinguished recognition of project excellence and winners are determined based on best practices use of technology in different areas critical to success in financial risk management, operational risk management, cross risk, and financial crime. Fino Payments Bank won this premier award for flawlessly implementing + quickly going live with Clari5 Enterprise Fraud Management solution, despite the challenging Covid situation. Clari5 is pleased to have endured the strides along with Fino Payments Bank Ltd during this entire journey.

Clari5 Continues to be a Category Leader for Enterprise Fraud Management

Chartis Research’s latest market update positions enterprise fraud solution providers with specialist capabilities in case management and anti-fraud analytics. The report positions vendors as ‘best of breed solutions’, ‘point solutions’, ‘enterprise solutions’ and ‘category leaders’, based on market potential and completeness of offering. Clari5 is once again positioned among category leaders for enterprise fraud solutions in the RiskTech Quadrant® for Enterprise Fraud Solutions, 2021.
 

Tackling Money Mule Frauds During Covid- 19

There’s a rise in fraudsters taking advantage of the socio-economic conditions created by the COVID-19 pandemic, to pull off money mule scams. Besides stealing economic stimulus payments and unemployment benefits, money mule fraudsters are flourishing on opportunities during the crisis.

Striking 2 Birds with 1 Stone: How To Grow Revenue While Preventing Fraud, Using The Same System

An intelligent system that studies customers’ behavioral patterns to detect fraud, is also creating precise personas for the bank’s marketing teams to target campaigns to. The same real-time, context-aware logic/approach used to combat cross-channel fraud can also help enable intelligent, hyper-precise targeted and contextual customer engagements.