Philippine Veterans Bank Taps Clari5 for AI Fraud Solution
The new system, that was implemented in just 45 days, aims to provide real-time fraud detection across PVB's digital channels and ensure compliance with Bangko Sentral ng Pilipinas (BSP) regulations.
The bank announced the new system at the Singapore FinTech Festival after implementing it in just 45 days.
The platform is part of PVB’s ongoing digital transformation and provides a “GenAI-ready” infrastructure for fraud prevention.
It detects and monitors financial crime in real-time across the bank’s internet and mobile banking channels.
PVB stated the system supports its compliance with Bangko Sentral ng Pilipinas (BSP) regulations.
Peter Paul V. Laud, Senior Vice President at PVB, said the bank is “committed to building a secure, compliant, and future-ready digital banking ecosystem”.
He noted that the Clari5 platform “delivers immediate value by further strengthening our fraud prevention and BSP compliance capabilities while providing a GenAI-ready infrastructure for what’s ahead”.
According to Clari5, its system uses a modular architecture, allowing banks to update fraud prevention capabilities without replacing the entire system.
Rivi Varghese, CEO of Clari5, commented on the bank’s choice of system.
Rivi Varghese
“Philippine Veterans Bank chose a unified, resilience-based platform over fragmented point solutions,” Varghese said. “This architecture breaks silos across fraud, AML, and compliance, enabling them to address current and future regulatory requirements… without hunting for the next tactical fix”.
PVB is a commercial bank whose shareholders include Filipino World War II veterans, their heirs, and post-WWII veterans. Clari5, part of the Perfios group, provides financial crime management solutions.
