Leading information technology company, CWG, has announced a partnership with Clari5, a Banking Enterprise Financial Crime Risk Management products company, to jointly help African banks combat enterprise fraud and money laundering.

A joint statement from the two institutions said through the strategic agreement, CWG and Clari5 will provide solutions to African banks to counter enterprise-wide fraud and money laundering risk.

It said 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 Harriet Attram Yartey, Managing Director, CWG Ghana, adding that the pan-African fraud and money laundering landscape has become alarmingly sophisticated over the last few years and 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," she added.

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."

With over two decades of contribution to the Information & Communication Technology sector, CWG – an ISO 9001 certified technology conglomerate has set a benchmark for technology and service excellence in Africa by consistently delivering service excellence using global best practices.

Established in 2003, CWG Ghana is an autonomous subsidiary of CWG Plc. CWG is an organization focused on delivering turnkey ICT solutions - hardware, software, and communication. CWG commenced operations in Nigeria in 1992 as Computer Warehouse Limited primarily to cater to hardware projects.

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. Clari5 is a bolt-on system, requires no replacement and features a compact implementation cycle with extremely quick ROI.
Harnessing the combined power of Automation, AI, ML, Decision Sciences & Real-time Decisions, Clari5 processes over 10 billion transactions, manages over 500 million accounts, and reliably secures 4 percent of the global population's banking transactions.