CustomerXPs' Clari5 lauded Best Fraud Detection Product by Operational Risk Magazine at the 2016 OpRisk Awards

CustomerXPs' Clari5 lauded Best Fraud Detection Product by Operational Risk Magazine at the 2016 OpRisk Awards
21.06.2016 03:30 pm

CustomerXPs' Clari5 lauded Best Fraud Detection Product by Operational Risk Magazine at the 2016 OpRisk Awards

Risk Management

CustomerXPs' Clari5 Enterprise Fraud Management product has been named winner of the prestigious 'Best Fraud Detection Product Award’ in the annual Operational Risk Awards held by Operational Risk magazine and Winners were selected by OpRisk’s editorial staff following a series of in-depth discussions with industry participants.

The OpRisk Awards recognizes excellence in operational risk management in the financial sector and rewards exceptional companies that have demonstrated innovative thinking and have provided solutions to effectively address operational risk management challenges faced by the global financial industry.

Operational Risk is considered the leading journal for operational risk professionals in financial services institutions worldwide. In print for over a decade, the magazine equips heads of operational risk and operational risk managers with information about cutting edge approaches to modeling, mitigating and managing risks. Operational Risk is part of the family of magazines, digital information services, events and training.

Mark Pengelly, Risk Management Editor of, said: “Patterns of fraud are often hidden under a deluge of seemingly innocent transactions or interaction data. This year, our judges chose to honor Customer XPs' Clari5 for its role in addressing this issue by interpreting patterns and links in disparate data sets to identify activities ranging from banking enterprise fraud to anti-money laundering.”

Rivi Varghese, Founder & CEO, CustomerXPs added, “In today’s world of financial crime, finding the smoking gun is not enough; industry and regulators now require that we either catch the blazing gun or disable it before the deed. This is what Clari5 does as an extreme real-time cross channel, cross pollinated enterprise fraud management product. CustomerXPs receiving the OpRisk Best Fraud Detection Product award is a strong industry validation that advanced anti-fraud detection and prevention technologies such as Clari5 help global financial institutions stay future-proofed.”

CustomerXPs' Clari5 Enterprise Financial Crime Management (EFCM) solution combats sophisticated fraud and money laundering with real-time, actionable insights. It monitors suspicious activities in real-time, and takes the right decision at the right time as opposed to end-of-day reporting and analysis. Clari5 EFCM is designed to meet the fraud detection, investigation, prevention, monitoring compliance and audit needs of banks.

Clari5 is a highly-scalable enterprise fraud and compliance solution with a capability suited to enterprise-wide deployment for global financial institutions. It uses advanced statistical and analytical techniques to identify patterns of unusual and suspicious behaviours hidden deep within a bank’s data. The product provides a single view of customers and their known associates across an organization’s entire portfolio of products and brands. Clari5's differentiated approach deploys a 'central nervous system' in banks with the ability to stop fraudulent transactions with real-time, actionable insights

Related News

LexisNexis Risk Solutions Positioned as a Leader in Risk-Based Authentication Report

LexisNexis® Risk Solutions is honoured to announce it is named as a... Read more »

Wolters Kluwer Updates OneSumX for Regulatory Reporting and Signs ING in China

Wolters Kluwer’s Finance, Risk & Reporting (FRR) business has released an update for its OneSumX for Regulatory Reporting solution to allow clients to meet... Read more »

iPaytotal launches complete banking and payment solutions for high risk businesses

iPayTotal is very proud to introduce its Tier 3 Package to all clients, including but not limited to Company Registration, Registered/Virtual Office Address, Global IBAN/SWIFT... Read more »

West African Development Bank (BOAD) selects Wolters Kluwer’s OneSumX Software to manage risk

West African Development Bank (BOAD) has selected Wolters Kluwer’s OneSumX... Read more »

Eventus Systems wins Best Trade Surveillance Solution for Dodd-Frank Act at 2020 RegTech Insight Awards

Eventus Systems, Inc., a leading global trade surveillance and risk management software... Read more »

Wolters Kluwer Continues PPP Educational Series With Loan Forgiveness Webinar

Wolters Kluwer Compliance Solutions is continuing to prove its industry leadership,... Read more »

Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel