Nigerian CWG partners with Indian Clari5 to help African banks combat frauds

Source: IBS Intelligence 2020-06-09

Leading Nigerian information technology company CWG, today announced that it has partnered with Banking Enterprise Financial Crime Risk Management products company Clari5 to jointly help African banks combat enterprise fraud and money laundering. Started in 1992, CWG commenced operations as a Computer Warehouse Limited primarily to cater to hardware projects. It soon established DCC Networks as its communications arm to provide VSAT, Metropolitan, Wide / Local Area Networks to corporates. In 1997 CWG acquired Expert Edge Software to address demands in software solutions, systems and training.

Through this strategic partnership, CWG and Indian banking technology solution provider Clari5 will provide solutions to African banks to counter enterprise-wide fraud and money laundering risk. Banks across Africa can now benefit from the unparalleled advantages of Clari5’s extreme real-time, cross channel, enterprise-wide fraud risk management capability.

“We are tremendously excited to partner with Clari5,” said Adewale Adeyipo, Group CEO, CWG. “The pan-African fraud and money laundering landscape has become alarmingly sophisticated over the last few years and clearly banks are seeking more efficient solutions to combat the scourge. But dealing with the new reality is beyond the league of conventional, siloed anti-fraud solutions. With Clari5, banks now the power of a world-class enterprise-wide real-time financial crime management solution that has been changing the way banks fight financial crime.”

Clari5 CEO, Rivi Varghese, added, “We believe that the best way to combat fraud and money laundering is with a solution that can behave like the human central nervous system to synthesize intelligence from across all channels of the bank in that very moment when it matters most. Clari5’s proven real-time product capability in thwarting financial crime, coupled with CWG’s unparalleled market reach and rich legacy of engagement successes makes it a compelling value proposition for innovative African banks to prevent bottom-line losses to financial crime. We are both proud and delighted to partner with CWG – the legendary African technology leader.”

Clari5 is also the winner of IBS Intelligence Global Fintech Innovation Award. It redefines real-time, cross-channel banking Enterprise Fraud Management using a central nervous system approach to fight financial crime. Clari5 uses a ‘human brain like’ approach to fraud that synthesizes intelligence enterprise-wide and delivers contextual insights in real-time to stop fraudulent transactions.

CWG

Clari5

African banks

Nigerian CWG partners with Indian Clari5 to help African banks combat frauds

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