Banks in the GCC region are being targeted for various kinds of Frauds, as we are seeing numerous instances on how hackers are trying innovative & targeted attacks to breach the existing security systems. To counter this, banks nowadays must evolve beyond the current silo based channel centric approach to fighting financial frauds and crime, and use the collective insight about every customer to bring it to act in the split second when a transaction occurs; to influence, modify or stop the transaction across channels in real-time. It’s now become essential therefore to have a ‘central nervous system’ approach that makes a ‘segment of one’ contextual decision in real-time.
Finesse has been in forefront in understanding this pain area among many banks in GCC and through its partnership with CustomerXps, we are pleased to introduce Clari5 as an Enterprise wide Real-time Fraud Monitoring and Prevention platform for banks. This solution has been endorsed Best Fraud Detection Product by Risk.net and featured consistently in Chartis’ RiskTech100. The solution harnesses the combined power of Automation, AI, Machine Learning, Decision Sciences and Real-time Decisions, Clari5 processes over 6bn transactions, manages over 500mn accounts and secures 4% of the global population’s banking transactions.