Mashreq launches generative AI capabilities to strengthen fraud risk management with Clari5

PRNewswire
Bengaluru (Karnataka) [India], November 3: Mashreq, a leading financial institution in the MENA region, has launched new generative AI capabilities within its fraud platform in collaboration with Clari5 - A Perfios Company. The move brings tangible benefits across three priority areas: enhancing fraud detection effectiveness, improving analyst productivity, and supporting stronger investigative decision-making.
Announced at Mashreq's Innovation Hub in Dubai in the presence of senior leadership from both organizations, the launch demonstrates how generative AI can be applied within a banking environment to complement the expertise and judgement of fraud professionals.
Ahmed Abdelaal, Group Chief Executive Officer at Mashreq, said: "In an increasingly digital financial landscape, fraud is becoming more sophisticated, and the way banks respond must adapt accordingly. At Mashreq, we are committed to implementing AI responsibly in areas where it can have a meaningful impact, strengthening the resilience of our operations and the trust our customers place in us."
Nitin Chugh, MD and Group CEO, Perfios, said: "Our collaboration with Mashreq demonstrates how generative AI can help banks tackle the growing complexity of financial crime by bringing together disparate information, accelerating investigations and enabling better-informed decisions. The goal is to augment investigators' expertise, not automate judgement, while ensuring AI operates with the rigour and accountability that financial crime management demands."
Rivi Varghese, Co-Founder and CEO, Clari5, said: "Banks don't need AI that acts on its own. They need AI they can govern by their own rules. Clari5 has shown how AI can operate on-premises inside a bank's own environment, grounded in the bank's context, and remain auditable, explainable and under human control. We are proud to have gone live with Mashreq and set an example of how enterprise-grade AI should operate in managing financial crime."
Rania Nerhal, Group Chief Client Experience & Conduct Officer at Mashreq, said: "The value of generative AI lies in its ability to help us interpret relevant information and respond to emerging risks with greater speed, consistency, efficiency, and precision. This launch is part of our continued investment in deploying the latest technology to evolve our fraud risk management framework."
Developed through the ongoing collaboration between Mashreq and Clari5, the new capabilities further strengthen the bank's fraud detection platform. They are designed to deliver two key benefits:
* Seamless customer experience: Supporting faster, more consistent, and more effective fraud detection.
* Greater consumer trust: Reinforcing confidence in the bank's ability to protect customers and respond to emerging risks.

About Mashreq:
Mashreq is a leading financial institution headquartered in Dubai, serving individuals, entrepreneurs, corporates, and institutions across the UAE and key regional and international markets. With a heritage spanning nearly six decades, Mashreq combines digital-first innovation with deep relationship banking across retail banking, corporate and investment banking, global markets, transaction banking, Islamic banking, wealth management, and treasury. The bank delivers secure, advanced, and customer-centric experiences while actively driving the transition toward a sustainable economy. Through a robust Environmental, Social, and Governance (ESG) framework, Mashreq is committed to facilitating sustainable finance, fostering responsible operations, and delivering positive societal impact.
With an extensive international footprint spanning the UAE, Oman, Qatar, Kuwait, Bahrain, Egypt, Pakistan, Türkiye, India, the UK, the US, and Hong Kong, Mashreq seamlessly connects regional businesses with global markets while maintaining deep local expertise.
Guided by its core purpose to help customers Rise Every Day, Mashreq partners with clients to navigate change, unlock sustainable growth opportunities, and achieve long-term success.
For more information, please visit: www.mashreq.com
About Clari5:
Clari5 - A Perfios Company, is the leading provider of real-time financial crime management platforms for banks, insurance companies, telcos and other financial institutions worldwide. Powered by AI-native capabilities, Clari5 helps detect, prevent, report and investigate financial crime in real time. Trusted by 80+ banks across 30+ countries for over two decades, Clari5 unifies fraud and AML on a single platform. It processes 12+ billion transactions every month and protects more than 1 billion accounts. Clari5 is part of the Perfios group, India's largest B2B SaaS TechFin, serving over 1,000 financial institutions across 18 countries. To know more, visit www.clari5.com.
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