Technology solutions and services leader Magnus Corporation Ltd. recently announced that it has inked a strategic partnership with CustomerXPs for taking their acclaimed real-time EFCRM product to Bangladeshi banks. The companies will work together on providing banks with extreme real-time intelligence for preventing fraud and money laundering attempts.
This announcement comes in the wake of the nation grappling with repeated incidents of sophisticated economic offenses of significantly high monetary value. The partnership brings together CustomerXPs’ acclaimed ‘human brain like’ approach to real-time financial crime management and Magnus Corporation’s fintech leadership, to deliver extreme ‘in- the-moment’ interventions to prevent financial crime.
Arman Khan, Director, Magnus Corporation said “Banks in Bangladesh have been experiencing a spate of sophisticated financial crime and a significant number of banks are still using dated defense mechanisms. By virtue of this partnership we expect to make Clari5 product’s real-time, cross channel intelligence capability available to mitigate bank’s financial crime risk. I also see Clari5 playing a key role in helping accelerate banks’ regulatory compliance efforts.”
Rivi Varghese, CEO, CustomerXPs added, “The time-tested adage of prevention being better than cure is even more apt in the case of financial crime. Clari5’s proven real-time anti- fraud capabilities coupled with Magnus’ fintech leadership will be a force multiplier for Bangladesh banks in their fight against financial crime”.
For more about Magnus Corporation Ltd. Visit: – www.magnusbd.com