IndusInd Bank has won the Celent Model Bank 2017 Global Award for Fraud Management and Cybersecurity for driving a unique initiative, namely how to leverage the investments in fraud management to pay for itself. In the innovation, the Bank not only implemented the real-time enterprise wide cross-channel fraud and AML management platform, but also began reusing in-memory data to offer simultaneous real-time cross-sell and up-sell.
The Bank chose the new generation enterprise approach for fraud management as against the dated and easier channel silo based approach, as it enabled a segment of one’ thinking for everything in the bank and connected 15 Real-time and 7 Batch systems. Clari5 implemented a central nervous system that revolutionized Bank’s Fraud and AML Management in a very short period.
IndusInd Bank is a Mumbai based Indian new generation bank, established in 1994. The bank offers commercial, transactional and electronic banking products and services.
