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

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 Risk.net. Winners were selected by OpRisk’s editorial staff following a series of in-depth discussions with industry participants.

Bangalore, India, June 23, 2016 --(PR.com)-- 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 Risk.net family of magazines, digital information services, events and training.

Mark Pengelly, Risk Management Editor of Risk.net, 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.

About CustomerXPs
CustomerXPs is an enterprise software product company offering Enterprise Financial Crime Management, Anti-money Laundering and Customer Experience Management products for Tier-1 global banks. CustomerXPs flagship anti-fraud product Clari5 is revolutionizing Fraud Management and Customer Experience Management in Fortune 500 banks by harnessing the power of extreme real-time intelligence. www.customerxps.com
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Priyanka Gautam
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