About UsOurs is a story of ‘patterns’; of apparently disjoint events, which when strung together form an incredible pattern. For over two decades, these events have occurred with a purpose, one naturally leading to the other.
Technology & Science Keeps Us Busy
We have diverse interests and are always clued in to our pet subjects – Computer Science, Artificial Intelligence, Mathematics, Logic and Technology, Probability, Set Theory, Statistics, Psychology and Sociology. We are also deeply influenced by books like Blink, The Wisdom of Crowds, Tipping Point, Outliers, Freakonomics and Fooled by Randomness. We figured the best way to be connected to these passions with like-minded people was to turn our collective passion into a business – more specifically a product which can blend these disparate fields into fine art! We even incorporate insights from marketing psychology, sociology and set theory in our product design.
Our Vision: Deliver ‘Human like’ Real-time, Cross Channel Intelligence
We are making products that are more human like – intuitive, contextual, able to work with partial information, thinking learning inferring, and most importantly, functions in real-time. i.e. more of right brain software. Contrast this with today’s transaction oriented left brained approaches, which is causing huge disconnects across the end-customer spectrum. People are craving for the human touch (like in the good old days), where a customer could end every interaction with the satisfaction that she has interacted with her pal. We also make organizations ‘predictable’ in real-time across their core functions. We felt that this is a tough problem to crack, a problem which can keep us passionately busy for a long time, which will require us to blend multiple sciences together to make our journey into unchartered territory.
To create ‘customer centered predictable enterprises’. And we do this by directing intelligence to the heart of every customer interaction. In real-time.
Clari5 Customer Fino Payments Bank Wins Prestigious Celent Model Risk Manager Award 2021!
Fino Payments Bank has won the prestigious Celent Model Risk Manager Award 2021 for ‘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. Read more
Clari5 Stars in CeFPro™ Top 50 Global Fintech Leaders Report 2021!
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 Center for Financial Professionals (CeFPro) Global Fintech Leaders 2021 Report that was unveiled at CeFPro’s International Fintech Leaders Convention & Awards, New York. 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. Read more
Fino Payments Bank and CustomerXPs Win Prestigious IBSI Global Fintech Innovation Awards, 2020 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. Read More
Clari5 Among Top 5 Fraud Analytics Firms
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
Clari5 in Fintech Global RegTech 100 for second consecutive year
Clari5 has been featured once again in the Fintech Global RegTech 100 – a list of 100 of the world’s most innovative RegTech companies that financial institutions need to know about as they develop their RegTech strategies. The selection criteria included key factors such as impact on the problem being solved; growth in terms of capital raised, revenue, customer traction; innovation of technology solution offered; potential cost savings, efficiency improvement and revenue enhancements generated for clients; and how important is it for a financial institution to know about the company.
Vijaya Bank (now Bank of Baroda) and Clari5 Win IBS Intelligence Global FinTech Innovation Award 2019 for Most Innovative use of AI & Machine Learning
Vijaya Bank (now Bank of Baroda) and Clari5 have won the award for Most Innovative Use of AI & Machine Learning at the 1st IBS Intelligence Global FinTech Innovation Awards. For over 28 years IBS Intelligence has been a leader in global banking technology research and this year they decided for the first time to organize an awards ceremony. The 1st IBS Intelligence Global FinTech Innovation Awards had 26 winners and 22 runners-up from banks and suppliers across 15 countries. The competition was fierce with about 150 participants. Nominations were carefully assessed on the basis of key factors such as Program Complexity, Program Governance, Best Practices & Tools Adopted, Originality & Simplicity, Adaptability of Concept, Innovation Excellence and Customer Impact before deciding the winners. Read more
Clari5 Positioned Category Leader for Account-based Enterprise Fraud Risk Management in Chartis Research Report on Financial Crime Risk Management Systems for Enterprise Fraud
As Chartis Research had highlighted in their previous iteration of this report, the landscape for enterprise fraud is increasingly dividing into 2 distinct areas: account-based fraud and payments-based fraud.
The latest market update positions account-based enterprise fraud solution providers who have specialist capabilities in areas such as case management and libraries of anti-fraud analytics. Account-based anti-fraud is also being affected by the drive toward the cloud; by assigning analytics and monitoring capabilities to cloud deployments, firms can tune and manage them within a single remote environment.
The report positions enterprise fraud risk management 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 for account-based enterprise fraud risk management. Read more
IBS Intelligence profiles Clari5 in latest ‘AI in Banking’ report
IBSI’s report explores the opportunities AI presents in banking, investment trends, different use cases banks can employ AI for, snapshots of select suppliers with AI-powered offerings and case studies on successful implementations. A primer on AI and key considerations for banks before implementation, the report features potential areas of application of AI in banking with product examples, use cases of successful AI deployment at banks, strategies and challenges when deploying AI. Read more
Clari5 Profiled in IBS Intelligence RPA Technology in Financial Services Report
In view of the growing adoption of Robotic Process Automation in the global financial services sector, IBSI’s report on ‘RPA Technology in Financial Services’ explores why RPA is now a strategic investment for banks and analyses the key considerations for adopting an RPA solution. The report profiles the major RPA solution vendors and select use cases of successful RPA deployments at banks. Read more
Clari5 Anti-Money Laundering & Watch List Monitoring capability featured in Chartis Research latest report on AML/WLM
Premier banking risk technology research firm Chartis has featured Clari5 in the Point Solutions quadrant in their latest report on AML/WLM. Point Solutions focus on precise component technology capabilities, addressing a critical need in risk technology by solving specific risk management problems with domain-specific software applications and technologies. Point solutions are known for being innovative, as their deep focus on a relatively narrow area creates thought leadership and intellectual capital. Read more
CustomerXPs is a ‘Best-of-Breed’ Vendor in Chartis Research ‘AI in Financial Services, 2019’ Report
Chartis Research has recognized CustomerXPs as a best-of-breed vendor in the premier research firm’s latest ‘Artificial Intelligence in Financial Services, 2019’ Report. We are featured in the RiskTech Quadrants for Analytics and for Packaged Applications. Read more
Clari5 is Winner of ISPMA Product Excellence Award, 2019
The International Software Product Management Association (ISPMA) is an open non-profit association of experts, companies and research institutes with the goal to foster software product management excellence across industries. The SPM (Software Product Management) Excellence Awards celebrate excellence in software management practices and showcase best practices and role models. At a grand ceremony at the IIM Bangalore which was attended by senior representatives from industry, academia and information technology, Clari5 bagged the SPM Excellence Award for innovation, maturity of SPM practices and business performance Read more
CustomerXPs Positioned as Category Leader in Chartis Research Financial Crime Risk Management Systems: Enterprise Fraud Report 2018
CustomerXPs has been positioned as a Category Leader in Chartis Research RiskTech Quadrant in their Financial Crime Risk Management Systems: Enterprise Fraud Report 2018. Category Leaders are the ones who are able to provide a full ecosystem, with developed services and a wide geographical presence and experience in the marketplace. Read more
CustomerXPs finalist for IRM CIR Risk Management Awards 2018
In association with CIR magazine, the Institute of Risk Management (IRM) annual Risk Management Awards recognize individuals, organizations and teams that have significantly added to the understanding and practice of risk management. CustomerXPs is shortlisted for the 2018 Risk Management Awards. Read more
Axis Bank Wins The Asian Banker Operational Risk Technology Implementation of the Year Award 2018
The most prestigious recognition program for risk management in the financial services industry, The Asian Banker Risk Management Awards recognizes outstanding achievements of the best run risk management teams in financial institutions globally. Premier Clari5 customer Axis Bank won the Operational Risk Technology Implementation of the Year Award. Read more
Clari5 Wins Golden Globe Tigers: Best Enterprise Fraud Detection Solution for Islamic Banking
At a gala event at Kuala Lumpur, CustomerXPs received the Golden Globe Tigers 2017 Award for Best Banking Enterprise Fraud Management under Excellence and Leadership in Islamic Banking. Golden Globe Tigers recognizes excellence at organizational and individual leadership levels across technology, business, education, social sector and academia. The awards ceremony is multifunctional, multidiscipline industry focused event. Read more
IndusInd Bank Named Celent Model Bank of the Year for Growing Revenue While Managing Fraud
Clari5 customer IndusInd Bank won the Celent Model Bank of the Year Award for Fraud Management and Cybersecurity for leveraging their investments in fraud management to pay for itself. In the innovation, IndusInd Bank not only implemented the real-time enterprise wide cross-channel fraud and AML management platform, but also began reusing in-memory data to offer simultaneous real-time cross-sell and upsell. Read more
Karnataka Bank Receives ‘Highly Commendable’ Citation at Banking Technology Awards
In a glittering ceremony held at London, attended by luminaries from the global banking industry, Clari5 customer Karnataka Bank received the ‘Highly Commended’ citation for ‘Best Use of IT for Risk Management or Regulation’ at the Annual Banking Technology Awards. Karnataka Bank competed against Top Global Financial Institutions to receive this coveted citation. Read more
CustomerXPs Among 500 Fastest Growing Technology Firms in APAC
After being ranked among India’s Top 50 fastest growing technology companies, CustomerXPs made it to Deloitte Technology Fast 500 Asia Pacific – a listing of the region’s 500 fastest growing technology companies. The rankings are based on percentage revenue growth over 3 years and CustomerXPs grew 191% percent during this period Read more
CustomerXPs Ranked in Chartis RiskTech100 for 3rd Consecutive Year
The RiskTech100 is globally acknowledged as the most comprehensive independent study of the world’s major players in risk and compliance technology. CustomerXPs was once again ranked for its Enterprise Fraud Management capability across the 6 key parameters of Innovation, Strategy, Market Presence, Customer Satisfaction, Functionality and Core Technology. Read more
CustomerXPs Enters RiskTech Quadrant for Enterprise Fraud Technology
Leading provider of research and analysis on the global market for risk technology, Chartis recognized CustomerXPs as an Enterprise Solution Vendor in their RiskTech Quadrant for Enterprise Fraud Technology in the 2016 Financial Crime Risk Management Report. Read more
Founder & CEO
Rivi Varghese co-founded the company after a long stint in the IT products industry. His vision of the need for a ‘human brain’ like central nervous system in banks for fighting financial crime led to the creation of the company’s flagship Clari5 banking product. Under his stewardship Clari5 has been voted ‘Best Fraud Detection Product’ by Risk.net and positioned as an enterprise solution in Chartis RiskTech Quadrant. Rivi has spent over 22 years perfecting the end-to-end art of conceiving, delivering, marketing and selling new products. Rivi has significant international experience across 25+ countries – a rich blend of advanced and emerging markets. He has interacted extensively with the senior leadership of more than 250 banks and was instrumental in opening new markets for these products. During his stint at Infosys’ Finacle as Head of Product Management -Delivery Channels, he conceptualized and delivered 12 pioneering products which continue to be used by leading banks globally –leading to some banks receiving global acclaim. As an omnichannel expert, he has enabled banking in all possible channels. Rivi is an MBA from IIM-Bangalore and a B-Tech from IIT-BHU.
Co-founder & COO
With 22 years of experience in software product development, implementation, business-solutions and operations, Balaji is responsible for client engagement, implementation and operations. He has managed several large-scale application outsourcing and core-banking replacement projects at leading global banks and has significant international experience managing multiple client projects in the Middle East, South-East Asia and India. Previously Balaji managed large application outsourcing projects for major US banks at Accenture. Balaji is a B.Tech and PMP.
Co-founder & CTO
Aditya Lal brings over 22 years of experience in designing, architecting and implementing large scale mission critical business applications in both traditional scale-up systems as well as modern scale-out distributed systems. He spent over 10 years with Infosys’ Finacle Architecture team designing and building resilient and mission critical enterprise software architecture. He then joined Amazon.com as a principal Architect where he architected and delivered Amazon’s Flexible Payment Web Service – an internet scale OLTP payment application over distributed databases with sub-second response time. Aditya is a B.Tech in Computer Science from IIT Kanpur.
Founder & CEO
Rivi Varghese co-founded the company after a long stint in the IT products industry. His vision of the need for a ‘human brain’ like central nervous system in banks for fighting financial crime led to the creation of the company’s flagship Clari5 banking product. Under his stewardship Clari5 has been voted ‘Best Fraud Detection Product‘ by Risk.net and positioned as an enterprise solution in Chartis RiskTech Quadrant. Rivi has spent over 25 years perfecting the end-to-end art of conceiving, delivering, marketing and selling new products. Rivi has significant international experience across 25+ countries – a rich blend of advanced and emerging markets. He has interacted extensively with the senior leadership of more than 250 banks and was instrumental in opening new markets for these products. During his stint at Infosys’ Finacle as Head of Product Management -Delivery Channels, he conceptualized and delivered 12 pioneering products which continue to be used by leading banks globally –leading to some banks receiving global acclaim. As an omnichannel expert, he has enabled banking in all possible channels. Rivi is an MBA from IIM-Bangalore and a B-Tech from IIT-BHU.
Co-founder & COO
With 25 years of experience in software product development, implementation, business-solutions and operations, Balaji is responsible for client engagement, implementation and operations. He has managed several large-scale application outsourcing and core-banking replacement projects at leading global banks and has significant international experience managing multiple client projects in the Middle East, South-East Asia and India. Previously Balaji managed large application outsourcing projects for major US banks at Accenture. Balaji is a B.Tech and PMP.
Co-founder & CTO
Aditya Lal brings over 25 years of experience in designing, architecting and implementing large scale mission critical business applications in both traditional scale-up systems as well as modern scale-out distributed systems. He spent over 10 years with Infosys’ Finacle Architecture team designing and building resilient and mission critical enterprise software architecture. He then joined Amazon.com as a principal Architect where he architected and delivered Amazon’s Flexible Payment Web Service – an internet scale OLTP payment application over distributed databases with sub-second response time. Aditya is a B.Tech in Computer Science from IIT Kanpur.
Chief Product Officer
Jayaprakash (JP) heads Product Management and global Pre-Sales, Alliances and Business Development for the Clari5 product suite. With over 18 years of rich and extensive Fintech experience and deep understanding of business, domain & technologies across products & services, JP is an accomplished banking technology professional with experiential acumen in taking high-tech enterprise products to market. With 360-degree experience in steering products from conceptual stage to category leadership, he has a commendable track record in building, positioning & selling Enterprise Fraud Management and AML solutions. JP has had several C-level conversations, has conducted consulting assignments at prominent global financial institutions and brings deep knowledge of market trends & requirements in the enterprise financial crime management domain. In his previous role at Wipro Technologies, JP led domain-specific consulting assignments for large banks across US, UK and India spanning across Core Banking, Internet Banking, Mobile Banking, Credit Cards, Lending, Payments and Cash Management. At Wipro, he also led business analysis for their Banking Business Solutions CoE. JP holds an MBA from IIT-Delhi and is a B.Tech in Computer Science from Osmania University.
T N Gopal
Chief Delivery Officer
Gopal governs Clari5’s client delivery functions including implementation services, customization, support and engagement. He also works closely with the leadership team in strategy planning / execution and new initiatives.
Gopal carries a rich multi decade’s experience in the IT industry, almost half of which was with Finacle (Infosys). His journey with Finacle spanned the full spectrum of Client Delivery – from learning the ropes of banking, product implementation, customization, solution consulting to leading the Global Professional Services as a Delivery Head for entire Finacle Customers.
At Finacle, Gopal was part of their efforts in scaling up the organization as it grew into newer frontiers, setting newer benchmarks, breaking into newer geographies. All through his career, he has been regarded as a dependable counsel by clients, peers and team members. He has been personally involved and contributed to strategy formulations and execution, operations oversight, team management and client stakeholder management. He has been a member of the organization policy council, client governance committees and the unit management committee.
Prior to Infosys, Gopal worked with organizations in India, Middle East and the US. He also likes to mentor youngsters in their journeys.
Director – Sales
Shyam heads Clari5’s sales for Global Markets. He comes with 21+ years of experience in selling infrastructure, security and application solutions and services to large enterprise clients. He has strong skills in the area of CXO relationships, working in a collaborative environment, managing cross-cultural sales, presales and delivery teams in multi-geographies. He has had exposure in driving multi-million dollar deals, negotiating large contracts with clients, developing Business strategy, large contract orchestration and partner management.
Prior to Clari5, Shyam was heading sales and operations at Inspira Enterprise Limited, a CMM Level 5 system integrator as Senior Vice President, and was responsible for $20 million in revenues. He was instrumental in delivering key transformational projects under Digital India Program and also in the Banking industry. Prior to Inspira he was with HCL managing sales for a Business Unit.
Shyam has a degree in Economics from Bangalore University and an MBA from the University of Western Sydney.
Director – Marketing
Naresh has 29 years of experience in advertising & brand communication across diverse verticals. At Clari5, he drives the global omnichannel marketing & brand communications. Previously involved with enhancing the brand presence for Fintellix, Oracle SSI, Ingram Micro and managed multiple brand portfolios at Havas and Mudra Advertising.
Director – HR
Jayakrishnan (Jay) heads the people function at Clari5. He has over 18 years of experience in building people capabilities with strategic interventions and operationalizing HR CoEs for fast growing organizations.
Previously Jay led the HR function for a 1000-member global IT player. He is passionate about people and his focus is to transform the people function and drive best people practices.
Jay has completed his Masters in Personnel Management from the National Institute of Personnel Management and is a Graduate in Psychology from the University of Kerala.
Ashutosh Vaidya comes with 30 years of technical experience in managing products, solution and service delivery across global markets. This also included leadership assignments in the US and stints with IBM, Microsoft and HP. As the Chief Delivery & Operations Officer, Ashutosh led NTT Data Services (previously Dell Services) transformation into a more profitable and global delivery set-up. As head of Global BPO, Wipro, Ashutosh navigated the entire $450 million BPO business and was responsible for the turnaround of Wipro’s business around Intel and Microsoft Technologies.
Sharad Hegde is the first non-founder employee of Infosys and an industry expert with over 30 years of experience in the areas of architecture, design and development for massive global software products and service implementations. SVP and CTO of Infosys for over 20 years, Sharad was the chief architect of Finacle and pioneered the development of Finacle, the leading global comprehensive core banking product from Infosys. At Clari5, he plays an active role in advising on architecture, technology, scalability and product strategy. Sharad is a graduate from IIT Chennai and a post-graduate from NITIE, Mumbai.
R. “Shanx” Ravisankar was formerly Chief Operating Officer, Oracle Financial Services Global Business Unit (FSGBU), and has over 25 years of experience in management consulting, information technology and business management around the globe. He is former Vice Chairman and CEO of Oracle Financial Services Software, (formerly known as i-flex Solutions), the first software company from India to establish a global leadership position in software products. As part of the i-flex leadership team, Shanx was instrumental in growing the business over a span of 15 years from a startup to an industry-leading, publicly listed, highly profitable, global software and services company with 10,000+ employees, customers in 125+ countries, and US$600+M in annual revenues. The company was acquired by Oracle Corporation in 2005.
Clari5 – A Brief History