Mashreq has introduced new generative artificial intelligence capabilities within its fraud management platform through its collaboration with Clari5, a financial crime management technology provider owned by Perfios. The development is aimed at improving fraud detection effectiveness, increasing analyst productivity and supporting more informed investigative decisions across the bank’s operations. Announced at Mashreq’s Innovation Hub in Dubai in the presence of senior executives from both organisations, the launch reflects the growing use of generative AI in banking functions that require the analysis of large volumes of information and timely responses to suspicious activity. The new capabilities build on the existing collaboration between Mashreq and Clari5 and are intended to assist fraud professionals in examining information, understanding potential risks and carrying out investigations more efficiently. Rather than positioning AI as an independent decision-maker, the companies have highlighted its role in supporting the judgement and expertise of human investigators. The announcement comes as financial institutions face increasingly complex fraud patterns associated with the expansion of digital banking, electronic payments and online financial services.
The generative AI capabilities are designed to bring together information from different sources and help investigators analyse it within the context of a fraud case. By consolidating relevant information, the technology can support faster investigations, improve consistency and provide insights that help analysts make better-informed decisions. The system is also intended to improve the productivity of fraud teams by reducing the time and effort involved in gathering and interpreting fragmented information. Clari5’s GenAI platform, Clari5 Genie, is designed to operate within the bank’s own technology environment, allowing the institution to maintain control over its data and the way AI-generated outputs are used. According to the companies, the platform runs on-premises within Mashreq’s infrastructure, with outputs designed to remain auditable and explainable. This approach is particularly relevant for financial institutions handling sensitive customer and transaction information, where the use of AI requires clear controls over data access, processing and decision-making. The deployment also reflects an emphasis on keeping AI-assisted investigations within the bank’s established operational and governance arrangements.
Mashreq Group Chief Executive Officer Ahmed Abdelaal said that increasingly sophisticated financial fraud requires banks to adapt their response mechanisms and apply technology responsibly in areas where it can deliver meaningful operational benefits. Nitin Chugh, Managing Director and Group CEO of Perfios, said generative AI can help financial institutions address the complexity of financial crime by connecting information from different sources, accelerating investigations and supporting better-informed decisions. He emphasised that the objective is to complement investigators’ expertise rather than automate their judgement. Clari5 Co-Founder and CEO Rivi Varghese also highlighted the importance of AI systems that banks can govern according to their own policies and requirements. He said the platform can operate within a bank’s own environment while maintaining explainability, auditability and human control. Rania Nerhal, Mashreq’s Group Chief Client Experience and Conduct Officer, noted that generative AI can help the bank interpret relevant information and respond to emerging risks with greater speed, consistency and precision. These statements underline the organisations’ focus on using AI as an assistance layer for fraud management rather than replacing the professionals responsible for reviewing cases and making decisions.
The launch is also intended to support a more consistent customer experience by helping the bank identify and respond to fraudulent activity more effectively. For customers, stronger fraud management capabilities can contribute to greater confidence in digital banking services, particularly as more financial activities move to mobile applications and online channels. For banks, the growing volume of digital transactions creates a need for systems capable of processing information quickly while helping teams identify patterns that may require further investigation. Generative AI can support this process by organising information and providing contextual assistance, although its effectiveness depends on data quality, appropriate system controls and human review. Mashreq and Clari5 have not disclosed specific performance figures demonstrating changes in fraud detection rates, investigation times or financial losses following the latest launch. The announcement also does not provide a detailed deployment timeline or quantify the number of cases expected to be handled through the new capabilities. Nevertheless, the development adds another AI-based capability to Mashreq’s fraud management infrastructure and illustrates how financial institutions are incorporating generative AI into operational risk functions while retaining human oversight over critical investigative decisions.
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