Clari5 Enterprise Financial Crime

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Overview

Clari5 Enterprise Fraud Management Solution is a real-time solution that synchronizes and synthesizes contextual insights from across all of the banks channels to prevent fraud in real-time, within the short transaction window itself. Clari5 monitors suspicious activities in real-time, and takes the right decision at the precise moment when it matters most, as opposed to end-of-day reporting and analysis. Clari5 is designed to completely meet the fraud detection, investigation, prevention, monitoring compliance and audit needs of banks end-to-end.

Key Features

• Extremely real-time with very short response times within the transaction window itself.

• Draws intelligence from all channels with Core Banking as pivot, as opposed to other solutions which focus on individual channel silos and try to stich it together.

• Manages fraud across all channels including Branch, Payment Cards, Internet Banking and Mobile Banking for all lines of business using a ‘segment of one’ approach, as banking captures the ‘soul’ of the customer (because the entire life of the customer has gone through it). When this soul is summoned for every transaction in real-time, it makes every interaction a highly contextual, segment of one.

• Silo-breaker User, Account, Customer and Bank-centric cross-channel and cross-product intelligence. • Pre-packaged Channel and Product specific detection and scoring models.

• Inbuilt easy-to-use GUI tool that enables banks' business users to create, edit or delete scenarios themselves (no programming knowledge required). • Dynamic Behavior Profiling algorithms for Customer, Accounts and Channels (e.g. preferred ATMs, preferred Beneficiaries, preferred Channels).

• Multi-layered event enrichment based intelligence for reduced false positives. • Enterprise Case Management with a unified view across Channels and Products including access to real-time Dashboard and Reports. • Runs on commodity hardware thus significantly lowering the TCO.

• Unified real-time intelligence platform for managing both Fraud Risk and Money Laundering.

• Fully real-time Anti-Money Laundering solution. • Integrated RPA capabilities for advanced and faster investigation process.

• Features pre-built integration adapters for banking systems leading to quicker implementation. Clari5 goes typically live in 4-6 months.

Key Benefits

1. Protects The Bank’s Bottom Line Clari5 protects the bank’s bottom line by reducing fraud losses with effective cross channel fraud management, protection against revenue leakage, reducing cost of compliance, proactive regulatory reporting and managing process compliance. Customers report over $30 million/year of savings to their bottom line 2. Enhances The Bank’s Top Line Clari5 improves the bank’s top line revenue. A benefit of real-time fraud management is that the bank can convert fraud management into a revenue generating activity by using positive cases post fraud assurance in real-time – this could also include real-time 24x7 revenue recovery. One customer generated over $25 million/year using this approach. 3. Boosts Bank’s Overall Productivity The cross-pollinated intelligence can be used to dramatically improve people productivity. Banks have reported significant month on month savings with respect to TAT (turnaround time) of agents, fraud investigators, branch staff and relationship managers.