Clari5

Menu

Author: Vivekananda J

Enterprise Fraud Management in Collaboration with IBM and Clari5

Posted on by Vivekananda J

Enterprise Fraud Management in Collaboration with IBM and Clari5

 24 April, 2024 | 5:30pm – 9:30pm | Makati

We are thrilled to invite you to an exclusive event focusing on Enterprise Fraud Management, co-hosted by IBM. This event will be a valuable platform to explore the latest trends in fraud management, gain insights aligned with BSP recommendations, and network with industry leaders.

    Here’s a glimpse into the agenda:

    • Welcome and Networking:Mingle with fellow attendees  and industry leaders.
    • Clari5 Overview:Gain insights into the Clari5 platform and its capabilities. (Speaker: Balaji – 20 mins)
    • Keynote Presentation:Our esteemed Chief Guest will deliver a thought-provoking address on the current landscape of fraud management. (Chief Guest – 20 mins)
    • Fireside Chat:Engage in a dynamic discussion with key bank leaders about their experiences and best practices in combating fraud. (Key Leaders – 40 mins)
    • Wrap-up and Closing Remarks
    • Dinner and Drinks:Enjoy a networking reception and continue the conversation in a relaxed setting.

    Collaboration with IBM and Clari5

    IBM’s expertise in security solutions combined with Clari5’s innovative fraud management platform promises a comprehensive and informative session.

    Alignment with BSP Recommendations

    The discussions will be tailored to address the latest trends and recommendations outlined by the Bangko Sentral ng Pilipinas (BSP) for robust fraud management practices.

    Participants

    Balaji, Ram & IBM

    In this session, you’ll gain insights on:

    • Emerging Fraud Threats: Uncover the latest scams targeting Philippine consumers, including online selling scams, phishing, vishing, smishing, and investment schemes. See real data with statistics like the alarming 3,615 online selling scams costing Filipinos nearly $1.25 million (Jan-Aug 2023).
    • Navigating BSP Regulations: Understand crucial requirements for banks and non-bank institutions, including:
      • Real-time fraud monitoring & detection systems
      • Capability to block suspicious transactions
      • Commensurate fraud monitoring for digital banking risks
      • Consumer awareness programs
      • Integration of fraud management & AML systems
    • Clari5: Your BSP Compliance Partner: Discover how Clari5’s comprehensive solution aligns with BSP guidelines, empowering you with:
      • Real-time automated fraud monitoring, detection, and prevention
      • Multi-source data intelligence synthesis
      • High-throughput digital channel handling
      • Configurable new fraud scenario detection for emerging threats

    This event is ideal for financial institutions seeking to:

    • Strengthen fraud management practices
    • Ensure compliance with the latest BSP regulations
    • Protect your customers and brand reputation

    Register now by filling the form below.

    Don’t miss out on this valuable opportunity!

    P.S. Space is limited, so register today!

      Gijima and Clari5 join Forces to Help South African Banks Combat Financial Crime in Real-Time

      Posted on by Vivekananda J

      Gijima, leading South African ICT company partners with Clari5 to jointly help African banks combat real-time cross channel enterprise crime management. Through this strategic partnership, Gijima and Clari5 will provide solutions to African banks to counter enterprise-wide fraud and money laundering risk. Banks across Africa can now benefit from the unparalleled advantages of Clari5’s extreme real-time, cross channel, enterprise fraud risk management capability.

      The partnership between Clari5 and Gijima, strengthened by the integration of IBM Mainframe/LinuxOne Z systems, represents a significant advancement in the technological capabilities available to South Africa’s banking sector. Integrating Clari5’s innovative solutions with Gijima’s extensive ICT services and the power of IBM Mainframe/LinuxOne Z systems allows banks to leverage state-of-the-art technology for enhanced operational efficiency, security, scalability, and reliability, offering an unparalleled platform for high-volume transactions and sensitive data processing.

      This strategic alliance highlights a commitment to delivering cutting-edge solutions that meet the evolving needs of the banking industry, emphasizing customer-centric approaches and the importance of digital transformation in today’s financial landscape.

      Clari5 Collaborates with IBM to Bring Clari5 Cross-Channel Real-time Enterprise Financial Crime Management to New IBM LinuxONE 4 Express System

      Posted on by Vivekananda J

      Clari5 Collaborates with IBM to Bring Clari5 Cross-Channel Real-time Enterprise Financial Crime Management to New IBM LinuxONE 4 Express System

      We are excited to collaborate with IBM as the company unveils its new IBM LinuxONE 4 Express system available globally on Feb. 20, 2024. Powered by IBM’s Telum processor, this new system expands the performance, security and AI capabilities of IBM LinuxONE to small and medium sized businesses and within new data center environments. This can potentially bring Clari5 clients significant cost savings and is designed to remove the guess work for clients when it comes to spinning up workloads quickly and getting started with the platform.

      Clari5 Collaborates with IBM to Bring Clari5 Cross-Channel Real-time Enterprise Financial Crime Management to New IBM LinuxONE 4 Express System

      Posted on by Vivekananda J

      New IBM LinuxONE system designed for cybersecurity, scalability and AI inferencing for hybrid cloud environments

      We are excited to collaborate with IBM as the company unveils its new IBM LinuxONE 4 Express system available globally on Feb. 20, 2024. Powered by IBM’s Telum processor, this new system expands the performance, security and AI capabilities of IBM LinuxONE to small and medium sized businesses and within new data center environments. This can potentially bring Clari5 clients significant cost savings and is designed to remove the guess work for clients when it comes to spinning up workloads quickly and getting started with the platform.

      In today’s fast-paced digital payment landscape, fraud has become a major concern, exploiting vulnerabilities in real-time transaction systems. The surge in digital transactions highlights the need for advanced real-time AI to combat this problem. Banks face significant risks during the brief moments of transaction processing, where preventing fraud, ensuring compliance, and maintaining productivity are crucial. Failure to do so can lead to substantial losses to a bank.

      Clari5 Enterprise Fraud Management Solution on IBM LinuxONE 4 Express is designed to empower Financial Institutions with Powerful Decisioning Engine for Real–Time fraud Prevention. It is designed to monitor, detect and influence (stop/ hold) transactions, execute compliance and enhance productivity all while delivering at unprecented speed and scalability.

      This next-generation LinuxONE 4 Express is meticulously engineered for exceptional throughput, high availability and resiliency, thereby delivering AI inferencing at speed and scale to support Clari5 as we aim to consistently monitor and prevent fraud without disrupting business operations.

      Moreover, Clari5 leverages AI/ML models, powered by IBM’s Telum processor, to process large data volumes efficiently. This can reduce false positives and can improve customer onboarding. Together, with Clari5 EFM on IBM LinuxONE 4 Express, banks can analyse vast amount of data in real-time, employ  AI/machine learning and swiftly integrate decisions into every transaction.

      Building an integrated hybrid cloud strategy for today and years to come 

      According to IBM, when organizations move their products and services online quickly, oftentimes, they are left with a hybrid cloud environment created by default, with siloed stacks that are not conducive to alignment across businesses or the introduction of AI. In a recent IBM IBV survey, 84% of executives responding acknowledged their enterprise struggles in eliminating silo-to-silo handoffs. And 78% of executives answering say that an inadequate

      operating model impedes successful adoption of their multicloud platform. To accelerate and scale the impact of data and AI across the enterprise – and ultimately improve business outcomes – IBM predicts that organizations are starting to build a more intentional hybrid cloud.

      operating model impedes successful adoption of their multicloud platform.[1] To accelerate and scale the impact of data and AI across the enterprise – and ultimately improve business outcomes – IBM predicts that organizations are starting to build a more intentional hybrid cloud.

      IBM brings the power of hybrid cloud and AI with LinuxONE to a simple, easy to use format that fits in many data centers. IBM LinuxONE 4 Express offers an approachable hybrid cloud platform entry point for small to medium sized businesses and startups. For example, IBM LinuxONE 4 Express systems, with GDPS, IBM DS8000 series with HyperSwap and running a Red Hat OpenShift Container Platform environment, are designed to deliver 99.999999% availability.[2]

      IBM LinuxONE 4 Express is designed to help clients simplify their IT environments and cut costs by consolidating databases onto a LinuxONE system. Designed to bring significant cost savings for clients over time, clients that move Linux workloads from compared x86 server to an IBM LinuxONE 4 Express can save over 52% on their total cost of ownership over 5 years.[3]

      Installing these systems in the data center can help create a new class of use cases, including the enhanced execution of Clari5  Enterprise Fraud Management, supporting smooth operations in a banking environment. Clari5 on IBM LinuxONE 4 Express can offer clients a highly efficient, secure and scalable platform to help businesses accelerate their fraud prevention journey powered by AI.

      As a part of the IBM Ecosystem, Clari5 is helping companies unlock the value of their infrastructure investments by implementing the tools and technologies designed to help them succeed in a hybrid cloud world. We are excited to be working closely with the IBM Ecosystem to bring new innovations to our clients.

      ______________________________

      [1] IBM IBV Research Insights: Mastering Hybrid Cloud, pg 11

      [2] Disclaimer: IBM internal data based on measurements and projections was used in calculating the expected value. Necessary components include IBM LinuxONE Rockhopper 4; IBM z/VM V7.2 systems or above collected in a Single System Image, each running RHOCP 4.10 or above; IBM Operations Manager; GDPS 4.5 for management of data recovery and virtual machine recovery across metro distance systems and storage, including Metro Multi-site workload and GDPS Global; and IBM DS8000 series storage with IBM HyperSwap. A MongoDB v4.2 workload was used. Necessary resiliency technology must be enabled, including z/VM Single System Image clustering, GDPS xDR Proxy for z/VM, and Red Hat OpenShift Data Foundation (ODF) 4.10 for management of local storage devices. Application-induced outages are not included in the above measurements. Other configurations (hardware or software) may provide different availability characteristics.

      [3] Disclaimer: Compared IBM LinuxONE 4 Express Model consisting of a CPC drawer and an I/O drawer to support network and external storage with 12 IFLs and 736 GB of memory in 1 frame, versus compared 3 x86 servers with two Xeon Sapphire Rapids Platinum 8444 processors with 32 cores each (2ch/32c) with a total of 384 cores. All Systems are modeled to be running Linux Postgres Enterprise-DB workloads with virtualization and DB tools. Results may vary based on client-specific usage and location. LinuxONE hardware is the expected global price in $USD and discounts. X86 purchase price was included and maintenance costs is from IDC’s Pricing Service: https://www.idc.com/myidc3/products with an aggressive discount. Postgres Enterprise-DB software and tools prices are based on street prices that is discounted from the list price. TCO is calculated over a 5-year horizon. Cost estimates include hardware costs and annual maintenance, Linux OS subscription costs, virtualization software, people cost, and infrastructure (network, energy, space) costs.

      Additional information:

      Clari5 Positioned Category Leader in Chartis Research RiskTech Quadrant® for FRAML Solutions, 2023

      Posted on by Vivekananda J

      As concerns around financial crime escalate, financial institutions and regulators are placing greater emphasis on combined fraud and anti-money laundering (FRAML) solutions. Chartis Research’s latest report uses the RiskTech Quadrant® to explain the structure of the market for FRAML solutions.

      The RiskTech Quadrant® employs a comprehensive methodology of in-depth independent research and a clear scoring system to explain which technology solutions meet an organization’s needs. The report positions FRAML 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 among category leaders for FRAML solutions. Download the report

      Clari5 Recognized Among Top 100 Risk Technology Providers in the World Once Again!

      Posted on by Vivekananda J

      Chartis Research RiskTech100® is the most comprehensive independent study of the world’s major players in risk and compliance technology. RiskTech100® is globally acknowledged as the go-to place for clear, accurate analysis of the risk technology marketplace. Together with its accompanying awards, the RiskTech100® ranking provides a valuable assessment and benchmarking tool for all participants in risk technology markets.

      Change and choice are the main themes in the technology landscape outlined in the Chartis Research RiskTech100® 2024 report. The report discusses some of the risk technology options available for financial firms and what they might mean for the future of the landscape. The report also considers changes that are shaping risk and analytics markets.

      The companies in RiskTech100® are drawn from a range of risk technology specialisms, 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 been recognized among top 100 risk technology providers in the world once again. Download the report

      The Friendly, Neighbourhood Bank Branch: Will it be Around Eventually?

      Posted on by Vivekananda J

      The Friendly, Neighbourhood Bank Branch: Will it be Around Eventually?

      “Will the bank branch survive?” has been a decade long (if not more) topic of debate. Physical branch networks worldwide are being impacted by the shift to digital transactions. However, there has also been rising customer expectations for better in-person experiences at branches shaped by other retail experiences.

      What Stops Banks From Creating ‘Segment of 1’ Personalized Experiences?

      Posted on by Vivekananda J

      What Stops Banks From Creating ‘Segment of 1’ Personalized Experiences?

      Trust, in-person interactions, reasonably good response levels, absence of alternative options – were some of the reasons that brought people to banks before the era of digital and banking domain monopsony. The strategy worked well and it helped create predictable growth and profitability – until the level playing field tilted.

      Clari5 eBook: Staying Away From The ‘Fines’ Line

      Posted on by Vivekananda J

      Failure to report suspicious transactions and adhere to AML regulations is increasingly becoming detrimental to Financial Institutions, leading to heavy fines, loss of reputation and legal ramifications. Despite this being a truism, globally penalties for AML non-compliance, sanctions breaches and inadequacies in KYC systems were $5 billion in 2022, amounting to almost $55 billion since the global financial crisis (Deloitte).

      The scale of financial transactions coupled with a rapidly changing regulatory landscape calls for a rethink in AML strategies. Regulators and FIs are increasingly demanding AML program effectiveness over ‘tick-box’ compliance in order to build a more secure, resilient financial ecosystem.

      Let’s explore the top 10 must-haves that FIs can use to bolster their AML strategy and avoid regulator penalties for AML non-compliance.