Mashreq has launched new generative AI capabilities in collaboration with Clari5 to strengthen its fraud risk management. Unveiled at the bank’s Innovation Hub in Dubai, the platform enhances fraud detection, boosts analyst productivity, and improves investigative decision-making while ensuring human oversight and accountability.
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.
