Mashreq, a financial institution in the MENA region, has launched new generative AI capabilities in its fraud platform. It built them with Clari5, a Perfios company. The tools target three priorities: better fraud detection, higher analyst productivity and stronger investigative decisions.
The launch took place at Mashreq’s Innovation Hub in Dubai, with senior leaders from both firms present. It shows how a bank can use generative AI to support the skill and judgement of its fraud professionals.
What the Leaders Said
Ahmed Abdelaal, Group Chief Executive Officer at Mashreq, said fraud is growing more sophisticated, so the way banks respond must adapt. Mashreq is committed to using AI responsibly where it can make a real difference. That strengthens the resilience of its operations and customers’ trust, he said.
Nitin Chugh, MD and Group CEO of Perfios, said generative AI can help banks handle the growing complexity of financial crime. It pulls together scattered information, speeds up investigations and supports better-informed decisions. The aim is to boost investigators’ expertise, not to automate judgement, he said. The AI must also meet the rigour and accountability that financial crime work demands.
Rivi Varghese, Co-Founder and CEO of Clari5, said banks do not need AI that acts alone. They need AI they can govern by their own rules. Clari5 has shown that AI can run on-premises inside a bank’s own environment, he said. It stays grounded in the bank’s context, auditable, explainable and under human control. He said Clari5 is proud to have gone live with Mashreq.
Rania Nerhal, Group Chief Client Experience & Conduct Officer at Mashreq, said generative AI helps the bank read relevant information and respond to emerging risks faster. It also brings more consistency, efficiency and precision. The launch is part of Mashreq’s ongoing investment in the latest technology to develop its fraud risk framework, she said.
Two Key Benefits
The new capabilities came out of the ongoing work between Mashreq and Clari5. They strengthen the bank’s fraud detection platform and aim to deliver two benefits. The first is a smoother customer experience, through faster, more consistent and more effective fraud detection. The second is greater consumer trust, by reinforcing confidence in the bank’s ability to protect customers and respond to new risks.
