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 in London on June 14. Winners were selected by OpRisk’s editorial staff following a series of in-depth discussions with industry participants.
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.
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.”