Bengaluru:Â Perfios has acquired Bengaluru-based Clari5, a fraud detection platform, to strengthen its risk management and anti-money laundering solutions.
Acquisition to Enhance Financial Crime Management
Software-as-a-Service (SaaS) company Perfios has acquired Clari5, also known as CustomerXPs, a platform specializing in enterprise fraud risk management (EFRM) and anti-money laundering (AML). The acquisition aims to enhance Perfios’ fraud detection and risk intelligence capabilities, aligning with its broader strategy to strengthen financial security solutions for banks and financial institutions.
Clari5’s technology provides real-time fraud detection, helping banks prevent financial crimes through advanced analytics and automated risk assessment. The integration of Clari5’s platform into Perfios’ ecosystem is expected to improve fraud prevention mechanisms for financial institutions.
Company Leaders on the Acquisition
Perfios CEO Sabyasachi Goswami highlighted that Clari5’s expertise complements Perfios’ mission to offer secure and scalable financial technology solutions. He noted that the acquisition would help financial institutions stay ahead of evolving threats.
Rivi Varghese, CEO of Clari5, said that the deal would accelerate product innovation and expand the platform’s reach, enabling faster fraud detection and risk mitigation.
Perfios’ Financial Growth in FY24
The acquisition follows a strong financial performance by Perfios in FY24. The company reported a net profit of ₹71.67 crore, a significant increase from ₹7.79 crore in the previous year. Revenue from operations rose by 37.1% to ₹557.8 crore, driven primarily by service-based earnings. With this acquisition, Perfios aims to strengthen its fraud prevention capabilities, ensuring better risk management solutions for financial institutions in an increasingly complex digital landscape.
