Bengaluru, India – Mashreq has introduced generative artificial intelligence capabilities to its fraud risk management platform in collaboration with Clari5, a Perfios company.
The capabilities are intended to improve fraud detection, increase analyst productivity and support investigative decision-making. The companies said the technology is designed to assist fraud professionals rather than replace their judgement.
“In an increasingly digital financial landscape, fraud is becoming more sophisticated, and the way banks respond must adapt accordingly,” said Ahmed Abdelaal, Group Chief Executive of Mashreq.
“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,” Abdelaal continued.
“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,” said Nitin Chugh, Managing Director and Group Chief Executive of Perfios.
“The goal is to augment investigators’ expertise, not automate judgement, while ensuring AI operates with the rigour and accountability that financial crime management demands,” Chugh continued.
“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,” said Rivi Varghese, Co-founder and Chief Executive of Clari5.
“We are proud to have gone live with Mashreq and set an example of how enterprise-grade AI should operate in managing financial crime,” Varghese continued.
“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,” said Rania Nerhal, Group Chief Client Experience and Conduct Officer at Mashreq.
The companies said the capabilities are designed to support faster and more consistent fraud detection and help strengthen customer confidence in the bank’s ability to respond to emerging risks.
