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

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

Clari5 Stars in CeFPro™ Top 50 Global Fintech Leaders Report 2021!

2 February 2021, New York. Global category leaders in real-time financial crime systems for banking, Clari5, has been featured among the world’s Top 50 service providers in the latest Center for Financial Professionals (CeFPro) Global Fintech Leaders 2021 Report. The report was unveiled at CeFPro’s International Fintech Leaders Convention & Awards today.

Clari5 is recognized as one of the Top 50 Fintech Leaders for Enterprise Fraud Management and AML solutions, as well as for Customer Experience and Due Diligence.

Fintech Leaders is the only research program of its kind, relying on responses and votes from industry end-users to establish the market leaders, trends, priorities, challenges, and investment opportunities within the fintech ecosystem.

CeFPro’s senior analysts formulated the report after gathering nearly 1,800 respondent votes and opinions across surveyed finance, technology, operations, risk, legal, and compliance professionals, and the independent expert views and interviews from the members of their 60+ Fintech Leaders Advisory Board. One of the most comprehensive and wide-reaching reports on the status of the fintech industry, the report features interesting findings reflecting current conditions and significant changes in the fintech sector.

“Clari5 product impacts about 1 in 20 persons across the globe, with 50 plus banks including super large banks across 15 countries. This recognition by CeFPro among the world’s top 50 is a recognition of the same”, said Rivi Varghese, CEO, CustomerXPs. “The recognition is special, also because it not only recognizes our sustained growth during Covid times, but also inspires us to grow bigger in the post-Covid world.”

“Clari5’s inclusion in our global Fintech Leaders 2021 report, ranked in the top 50, is recognition of the work that they are undertaking,” said Andreas Simou, Managing Director, CeFPro. “The ever-increasing challenges to combat financial crime requires new approaches, to stay ahead of a moving target, with CustomerXPs’ Clari5 solution providing innovation in the marketplace.”

About CeFPro and Fintech Leaders Report

The Center for Financial Professionals, CeFPro™, is an international research, events, and media company. CeFPro is the focal point for financial risk, technology, and regulatory professionals, advancing the profession through renowned thought leadership, knowledge sharing, unparalleled networking, industry solutions, and lead generation.

CeFPro’s annual Fintech Leaders Report provides a comprehensive examination of the opportunities, investment priorities, key obstacles, and main benefits of the fintech industry. Findings are based on the views of the extensive international end-user survey and the 60+ Fintech Leaders Advisory Board. Now in its third year, Fintech Leaders is increasingly recognized as the go-to resource, delivering unparalleled research and knowledge. For further information, visit www.cefpro.com and www.fintech-leaders.com

Fino Payments Bank and CustomerXPs Win IBSI Global Fintech Innovation Awards for Best Project Implementation in Risk Management!

IBS Intelligence has been the world’s trusted source of Financial Technology News, Research & Advisory Services for almost 3 decades and their research reports are consumed by global banks, suppliers and investors. The IBSI Global Fintech Innovation Award is a distinguished recognition of project excellence and winners are determined based on solution originality, project impact, program complexity, adaptability of concept, speed to market, governance, best practices and tools adopted. This year’s edition of the awards had global participation from 220 banks and technology vendors across 52 countries. Fino Payments Bank, along with CustomerXPs bagged this premier award for flawlessly implementing + going live with Clari5 EFM solution despite the challenging Covid situation – a testimony to our shared vision of execution excellence. Read more

Clari5 Featured Again Among Top 100 Global Risk Technology Vendors!

Chartis Research’s RiskTech100® 2021 report is the most comprehensive independent study of the world’s major players in risk and compliance technology. The RiskTech100® ranking provides a valuable assessment and benchmarking tool for vendors in risk technology markets

Successive regulations and accountancy standards, have forced financial institutions to examine and redesign their technology operations in new ways. In some areas of RiskTech – notably credit risk and GRC – digitalization and the transformation of analytics have caused deep structural changes to operations, processes and systems, changes that will have profound implications for FIs and vendors alike.

The companies in RiskTech100® are drawn from a range of risk technology specialties, 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 once again been featured among Top 100 global risk technology vendors. Download the report

Clari5 Among Top 5 Fraud Analytics Firms

[two_third_last]The larger the digital economy, the more the need for smarter fraud risk management solutions. AIM lists 5 five new-age firms with advanced analytics-based solutions to fight fraud and business risk. Read More

Clari5 Positioned Category Leader for AML Solutions in Chartis Research Report on KYC/ AML Software Solutions

Chartis Research’s latest report provides an overview of trends in financial crime compliance systems that include KYC and AML capabilities.

A key takeaway is the growing number of vendors in the space, and the increasing number of category leaders, as a result of specialist vendors emerging and consolidating their position in the AML space, and the growth of competitors challenging the dominant players. For challengers, the key capabilities are typically transaction monitoring and case management. Vendors in the category leader quadrant also represent a wider variety of geographies.

The report positions the AML 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 as a ‘Category Leader’ in the RiskTech Quadrant for AML solutions, 2020. Download the report