Finesse, together with leading anti-fraud technology major CustomerXPs, will showcase their enterprise fraud management solutions platform that many financial institutions are seeking today, at an event in Dubai this week.

Finesse and CustomerXPs will showcase Clari5, whose differentiated approach deploys a central nervous system in banks with the ability to stop fraudulent transactions with real-time, actionable insights, at the Cards & Payment Middle East – 2016, to be held at the Dubai International Convention and Exhibition Centre on May 31 and June 1.

Clari5 Enterprise Fraud Management is a real-time intelligent Big Data solution which combats sophisticated fraud, a statement said.

Ajay Alex, practice head, GRC at Finesse, said: “Clari5 helps banks to utilise their existing internal data that provides insights and intelligence to arrive at specific individual level transaction behaviours (which are difficult for any hackers to replicate) for all their existing customer data sets, and helps to identify and point out on a real-time basis, potential fraud transactions and positively intervene before a fraud transactions gets committed to the system.”

Rivi Varghese, CEO, Customer XPs, added: “Banking is the only industry in the world when the entire life of the customer flows through it. This would make banking the smartest industry in the planet.  However, bankers globally don’t realise this potential - as they still believe that they are in the business of doing transactions and still go ahead making siloed decisions. These decisions are proving to be costly and impacts both the topline and bottom-line of banks.

“The time has come for bankers to use this collective wisdom, gleaned from its relationship with customer, and bring it to bear in the split second when the transaction happens - to influence, modify or stop the transaction across channels in real-time. We need to use this brain-like central nervous system approach to make a segment of one decision every-time in real-time,” he said.

Some key highlights of CustomerXPs’ Fraud Management solutions that can help global banks and financial institutions to have better fraud management and revenue maximization are:
•    Fraud management in real-time
•    Reduce sophisticated frauds
•    Delivers real-time actionable insights
•    Regulatory compliance
•    Reduce reputational loss
•    Highly scalable, extendable, easy maintenance
•    Cross channel and Cross pollinated
•    Short implementation cycle and easy integration
•    Quick ROI

Finesse with its next generation, business-user oriented and customizable solutions has solved many technology challenges for some of the fastest growing leading banks, financial institutions, telecom, energy, retail and government institutions. Such solutions and services help organizations to stay competitive, prevent loss of time, effort and money – leading to all round growth.

Finesse will be at Stand F-A44 at the Cards and Payment Middle East. – TradeArabia News Service