Mashreq and Clari5, a company within the Perfios Group, have announced their collaboration to introduce Clari5 Genie, a platform designed to enhance fraud detection through artificial intelligence (AI).
This move is said to align with the current efforts of financial institutions to tackle fraudulent activities in today’s complex digital environment.
Under this partnership, Mashreq will implement Clari5 Genie as part of its larger strategy to innovate within the banking sector. As the platform’s inaugural user, Mashreq will deploy Clari5 Genie entirely on-premise, ensuring stringent adherence to data security, privacy, and regulatory standards.
This initiative aims to set a global standard for intelligent and proactive fraud prevention.
Clari5 Genie utilises generative AI (GenAI) technology to assist banks in managing fraud by identifying hidden patterns and expediting investigation processes. The platform features include smart prompt engineering, pattern detection based on similarity analysis, and automatic generation of case narratives.
These capabilities are designed to provide investigators with enhanced insights and quicker decision-making without compromising data privacy or compliance.
Mashreq executive vice president and fraud prevention and intelligence head Gurcharan Chhabra said: “At Mashreq, our ethos has always been to Rise Every Day for our customers by leading with innovation, especially in areas that protect them and our systems.
“With Clari5 Genie, we will bring forth a paradigm shift in fraud prevention. With Clari5, we plan to go beyond traditional fraud systems and build a live, GenAI-powered intelligence layer that sees what others miss, simulates threats before they hit, and tells the story of a case in real-time.”
The objective of Clari5 Genie is to facilitate 70% faster investigations and proactively identify emerging threats.
The system offers several key features such as a natural language console for investigators and tools for live fraud simulation. It also has a recommendation engine, role-based access controls, encryption, compliance monitoring, and a secure on-premise setup that eliminates reliance on external cloud services.
Clari5 co-founder and COO Balaji Suryanarayana said: “Clari5 Genie isn’t merely an upgrade, it’s a generational leap in how fraud is understood and tackled.
“We are reimagining fraud prevention by placing a secure, GenAI engine directly into the hands of investigators, enabling them to ask questions, run live threat simulations, generate actionable narratives, and do all of this in real time, on-premise, with zero compromise on compliance.”
