Smartly Combat the $3.5 Trillion Banking Fraud Using Clari5's Geo-Fencing & Real-Time Analytics On Smartphones

CustomerXPs launched Clari5 Sherlock, which smartly fights multi-channel banking frauds by using a combination of extreme big-data analytics and leveraging the location of customers’ mobile in real-time.

  • Share on TwitterShare on FacebookShare on Google+Share on LinkedInEmail a friendRepost This
The need of the hour is a banking solution designed and created specifically for banks – which brings a unified real-time fraud intelligence across all channels and core banking, to fight frauds differently. Clari5 is bang on target.

Bangalore, India (PRWEB) April 18, 2014

CustomerXPs announced the launch of Clari5 Sherlock, which smartly fights multichannel banking frauds by using a combination of extreme big-data analytics and leveraging the location of customers’ mobile in real-time. The product was launched in the recently concluded Arabian Banking Technology Exhibition and Conference (ABTEC) 2014 in Bahrain. CustomerXPs is the leading provider of real-time multichannel fraud management products for global tier 1 banks.

As per IBM, global banking fraud losses amount to 3.5 trillion dollars each year. Fighting this menace requires the convergence of massive real-time big data analytics and mobility – Clari5 Sherlock is the innovation in this space. Clari5 Sherlock detects change in the location by using customers’ telephone networks, GPS, Internet login behavior, credit/debit card spend locations, engages in adaptive learning & behavior analytics thereby effectively closing the loop with the customer.

“Banking is the only industry where the entire life of a customer passes through it and banks should use this unified intelligence to fight fraud and manage relationships. However it is surprising that very few banks have the capability to leverage this unified intelligence, as they have deployed silo based legacy solutions for each channel individually and oftentimes solutions created for other industries. The need of the hour is a banking solution designed and created specifically for banks – which brings a unified real-time fraud intelligence across all channels and core banking, to fight frauds differently, using the power which only a bank has. Clari5 Suite of products in general and Clari5 Sherlock in particular address this burning need,” said Rivi Varghese, CEO, CustomerXPs.

About CustomerXPs

CustomerXPs is the leading provider of real-time multichannel enterprise fraud and customer experience management products for global tier 1 banks. CustomerXP’s differentiated approach to extreme real time analytics ensures that the bank can bring to bear the entire collective intelligence within the short transaction window itself to modify, stop, value add to the transaction in real-time across all systems in the bank. This bestows the bank with hitherto unavailable capability to prevent fraud, cross-sell/up-sell, manage customer experience, increase productivity, cross-sell etc. CustomerXPs is live with the worlds largest such implementation(s), wherein every transaction on each of the 80 Million account of a bank is interpreted in real-time and checked for fraud, cross-sell, customer experience during the transaction window itself – all this running on horizontally scalable commodity hardware.


Contact

Follow us on: Contact's Facebook Contact's Twitter Contact's LinkedIn Contact's Google Plus

Attachments

Clari5 Sherlock - Context Based Fraud Management Solution


CustomerXPs