Case Study: Fino Payments Bank achieves real-time, enterprise-wide fraud detection and prevention with Clari5

Fino Payments Bank Activates Real-Time Enterprise-wide Fraud Management with Clari5

Fino Payments Bank, a leading Indian Payment Bank with over 1.5 million accounts and 200,000+ banking points, needed to strengthen its fraud risk management to meet RBI regulatory requirements and combat emerging cross-channel fraud across Internet Banking, Mobile Banking, ATM/POS, Cards, Core-banking and Financial Inclusion channels. Fino required a real-time, enterprise-wide solution (not siloed, batch or near-real-time) to detect and prevent fraud in-flight and provide a contextual view of customer behavior. After evaluation, Fino selected Clari5 and its Real-Time Enterprise Fraud Management (EFM) solution.

Clari5 implemented a real-time, cross-channel EFM that integrated with Fino’s source systems, delivering sub-second (<400 ms) response for transaction monitoring, integrated case management, reporting/dashboards and scalable throughput. The remote implementation and go-live during COVID-19 now processes transactions for 1.7M+ customers, 400+ branches and 200,000+ banking points, enabling risk-based detection that improved detection rates, reduced false positives, expedited investigations and ensured compliance with regulator mandates. Clari5’s deployment also provided measurable auditability and the ability to track FRM efficacy.

Fino Payments Bank

Vinod Kumar

Chief Information Officer