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Perfios Announces Strategic Acquisition Clari5

Bengaluru, February 05, 2024 – Perfios, India’s largest B2B SaaS TechFin, today announced the strategic acquisition of Clari5 (CustomerXPs), a category leader in banking financial crime management. Clari5’s real-time platform empowers banks to detect, investigate, and prevent fraud. Its product suite encompasses three critical areas, i.e. fraud mitigation, risk management, and anti-money laundering (AML).

The strategic acquisition further strengthens Perfios’ fraud and risk management (FRM) capabilities, driving product-led synergies that will fuel the company’s aggressive growth trajectory. This move solidifies Perfios’ leadership in the financial sector in its home market, India, while also strengthening its presence across its key global markets, including the Middle East, North Africa (MENA), and Southeast Asia (SEA).

Commenting on the development, Sabyasachi Goswami, CEO, Perfios said, “We are thrilled to welcome Clari5 into the Perfios family. The acquisition of Clari5, a leader in EFRM & AML, marks a significant milestone in our journey to build the most comprehensive fraud and risk management ecosystem.” He added, “Clari5’s real-time financial crime management platform, trusted by marquee financial institutions worldwide, perfectly complements Perfios’ mission to deliver secure, scalable, and tech-first solutions. Together, we are set to redefine fraud prevention, risk intelligence, and AML compliance, empowering financial institutions to stay ahead of evolving threats while powering financial security to billions across the globe.”

Rivi Varghese, Founder & Chairman, Clari5, said, “Joining forces with Perfios marks a new chapter of growth and innovation for Clari5. With Perfios’ deep expertise in the financial technology ecosystem and our advanced real-time financial crime management platform, we are creating a powerful synergy to redefine fraud prevention, risk intelligence, and AML compliance at scale. This partnership enables us to expand our reach, accelerate product innovation, and strengthen our ability to help financial institutions combat evolving financial crime with unmatched speed and precision. Perfios’ scale, global presence, and stability position us to serve the largest banks worldwide, enabling us to deliver impactful solutions to financial institutions of all sizes and complexities.

About Clari5:

Clari5 is a category-leading innovator in banking financial crime management, empowering mission-driven banks to combat the global $4 trillion fraud challenge. Trusted by marquee banks worldwide, Clari5 processes over 10 billion transactions monthly, manages more than 1 billion accounts, and serves customers across 15 countries. With 340 million+ accounts at a single site, Clari5 has powered some of the largest fraud management deployments globally.

About Perfios:

Founded in 2008, Perfios is a global B2B SaaS company serving the Banking, Financial Services and Insurance industry in 18 countries, empowering 1000+ financial institutions. Through their pioneering software platforms and products, Perfios helps financial institutions to take big leaps by shaping their origination, onboarding, decisioning, underwriting and monitoring processes at scale and speed. Perfios delivers 8.2 billion data points to banks and financial institutions every year to facilitate faster decisioning, and significantly accelerates access to credit and financial services for their clients’ customers. Headquartered in Bangalore, Perfios offers a comprehensive suite of 75+ products and platforms, providing clients with a robust, end-to-end technology backbone they can rely on.

To know more, visit Perfios.com and follow them on LinkedIn, Facebook, Instagram, YouTube.

Media Contact:
Head of Communications:
Garima Kaul
+91 93158 35850
garima.kaul@perfios.com

PNB Becomes the First Bank to Go Live with Clari5’s Cutting-Edge, Real-Time NCRP Integration Solution!

In a landmark achievement, Punjab National Bank (PNB) has become the first bank in India to go live with Clari5’s NCRP Integration Solution, setting a new standard in fraud prevention and complaint management. This state-of-the-art solution, built in alignment with the I4C National Cybercrime Reporting Portal (NCRP), enables automated, real-time, and end-to-end processing of complaints across all retail banking channels, marking a transformative leap for the Indian banking sector.

Key Highlights

A Milestone in Fraud Prevention

Clari5’s innovative integration solution is not just a tool but a game-changer in fraud management, empowering banks to act quickly, efficiently, and securely. PNB’s implementation of this solution is a testament to its commitment to innovation and customer security.

Rivi Varghese, CEO of Clari5, commented:
“We are truly honored to partner with PNB in achieving this groundbreaking milestone. This first-of-its-kind integration sets a benchmark for the entire banking industry, and it wouldn’t have been possible without PNB’s visionary leadership and unwavering commitment to innovation and customer security. We also extend our heartfelt thanks to I4C for their guidance and collaboration in shaping a solution that aligns with their vision for secure, real-time complaint handling. Together, we are paving the way for a safer and more secure financial ecosystem in India.”

Transforming Fraud Management for the Future

As the first movers in this space, Clari5 is proud to lead the way in delivering advanced fraud management solutions that align with I4C’s vision of a secure financial ecosystem. The success of this implementation at PNB lays a strong foundation for expanding this transformative technology across other banks in India.

For more information about the Clari5 NCRP Integration Solution or to explore how it can be deployed at your bank, please contact us at connect@customerxps.com. Together, let’s set new standards in fraud prevention.

Gijima and Clari5 join Forces to Help South African Banks Combat Financial Crime in Real-Time

Gijima, leading South African ICT company partners with Clari5 to jointly help African banks combat real-time cross channel enterprise crime management. Through this strategic partnership, Gijima and Clari5 will provide solutions to African banks to counter enterprise-wide fraud and money laundering risk. Banks across Africa can now benefit from the unparalleled advantages of Clari5’s extreme real-time, cross channel, enterprise fraud risk management capability.

The partnership between Clari5 and Gijima, strengthened by the integration of IBM Mainframe/LinuxOne Z systems, represents a significant advancement in the technological capabilities available to South Africa’s banking sector. Integrating Clari5’s innovative solutions with Gijima’s extensive ICT services and the power of IBM Mainframe/LinuxOne Z systems allows banks to leverage state-of-the-art technology for enhanced operational efficiency, security, scalability, and reliability, offering an unparalleled platform for high-volume transactions and sensitive data processing.

This strategic alliance highlights a commitment to delivering cutting-edge solutions that meet the evolving needs of the banking industry, emphasizing customer-centric approaches and the importance of digital transformation in today’s financial landscape.

Clari5 Positioned Category Leader in Chartis Research RiskTech Quadrant® for FRAML Solutions, 2023

As concerns around financial crime escalate, financial institutions and regulators are placing greater emphasis on combined fraud and anti-money laundering (FRAML) solutions. Chartis Research’s latest report uses the RiskTech Quadrant® to explain the structure of the market for FRAML solutions.

The RiskTech Quadrant® employs a comprehensive methodology of in-depth independent research and a clear scoring system to explain which technology solutions meet an organization’s needs. The report positions FRAML solution vendors as ‘best of breed solutions’, ‘point solutions’, ‘enterprise solutions’ and ‘category leaders’ based on market potential and completeness of offering.

Clari5 is positioned among category leaders for FRAML solutions. Download the report

Clari5 Recognized Among Top 100 Risk Technology Providers in the World Once Again!

Chartis Research RiskTech100® is the most comprehensive independent study of the world’s major players in risk and compliance technology. RiskTech100® is globally acknowledged as the go-to place for clear, accurate analysis of the risk technology marketplace. Together with its accompanying awards, the RiskTech100® ranking provides a valuable assessment and benchmarking tool for all participants in risk technology markets.

Change and choice are the main themes in the technology landscape outlined in the Chartis Research RiskTech100® 2024 report. The report discusses some of the risk technology options available for financial firms and what they might mean for the future of the landscape. The report also considers changes that are shaping risk and analytics markets.

The companies in RiskTech100® are drawn from a range of risk technology specialisms, and meet the needs of financial and non-financial organizations. They share a number of qualities that rank them among the world’s top 100 risk technology providers. The RiskTech100® report only includes companies that sell their own risk management software products and solutions. Clari5 has been recognized among top 100 risk technology providers in the world once again. Download the report

CedarIBSI Podcast: Evolving Fraud in the Digital Payments World

Increasing adoption of digital payments solutions by financial institutions has led to rising levels of frauds. Robin Amlôt, Managing Editor, IBS Intelligence chats up with Gopal Sharma, Chief Product & Technology Officer, Clari5 on the evolving fraud in digital payments and the precautions required as the threat surface expands. Listen