With the recent spurt of card fraud as well as internet banking fraud transactions in India, Reserve Bank of India has mandated to put in place necessary fraud prevention solution by 30 June, 2013 for all alternative channel/electronic payment transactions including the funds transfer transactions done using NEFT, RTGS and IMPS. Clari5 Channel Fraud Detection & Prevention Solutions enables banks and card issuers to comply with these guidelines in less than 2 weeks

CustomerXPs recently benchmarked Clari5 to a high-TCO, scalable open platform in collaboration with it's partners Intel and Red Hat. The benchmarking exercise was carried out on Clari5 EFM and Transaction Validator solutions, Red Hat Enterprise Linux 6 and Intel Xeon Processor E7. Read more to understand how Clari5 reached a record benchmark of 4000+ TPS.

As Banks grapple with the increasingly sophisticated means and methods of fraudsters who always seem a step ahead, it seems, today, that the modus operandi of the average fraudster is to target the crevices in the bank’s fraud prevention apparatus. Be it cross channel or cross function or cross geography or mostly, in cohorts with bank employees, the fraudster is adept at finding the Bank’s Achilles heel.

As fraudulent activities become more sophisticated, so must the techniques used by financial services to stop it. Advanced real-time detection methods play an essential role in halting fraud and predicting the outcome of suspicious activities accurately without causing customer dissonance.