June 2021 Issue

Combating Money Laundering From The Cloud. Are Banks Ready?

Until recently, ‘the cloud’ used to be a bugbear for the banking industry. Banks were hesitant to move vital data and information from in-house environments to the cloud, least of all for financial crime risk management.

Indian Issuer Banks and PPI Issuers can now ensure comprehensive, transparent and auditable Payments Fraud Reporting to RBI in an automated, unified and integrated fashion. Clari5’s single-point modular fraud reporting platform synchronizes with all data source channels and streamlines the entire RBI reporting process end-to-end, right from data upload through to report generation.
“Prevention is better than cure” is an enduring maxim that applies equally well to the banking industry combating fraud. Read the Clari5 eBook to know the top 10 threats afflicting banks, the symptoms and the curative measures.
The pandemic put certain critical aspects of the banking universe in the spotlight, including that of customer experience – a vital factor during extreme times. Imperative therefore to re-visit how customers’ digital experiences can be made frictionless during an exceptionally difficult phase.