Philippine Bank Pioneers AI-Powered Fraud Prevention with Rapid Digital Transformation

Manila, Philippines – November 12, 2025 – Philippine Veterans Bank (PVB) is accelerating its digital transformation with the implementation of an advanced, AI-powered fraud and risk management platform from Clari5, a company recently acquired by India-based financial technology firm Perfios. The move underscores PVB’s commitment to providing secure, innovative financial services in an increasingly digital landscape, and positions the bank at the forefront of proactive fraud prevention in the Philippines.

PVB’s partnership with Clari5 comes at a critical time. The Philippines, like many nations, is experiencing a surge in financial crime, fueled by the rapid adoption of digital payments and the sophistication of cybercriminals. According to industry reports, digital fraud losses in the region are escalating, demanding more robust and intelligent security measures.

“We recognized the need to move beyond traditional, reactive fraud detection methods,” explained a source close to PVB’s digital transformation initiative. “The traditional rules-based systems are no longer sufficient. We needed a solution that could analyze transactions in real-time, identify anomalies, and proactively prevent fraudulent activity.”

A Strategic Alliance Fueled by Innovation

Clari5’s platform utilizes machine learning and artificial intelligence to detect and prevent fraud across various channels, including online banking, mobile payments, and point-of-sale transactions. Its ability to analyze large volumes of data in real-time allows for the identification of suspicious patterns and the prevention of fraudulent transactions before they occur. The integration with Perfios, a rapidly growing B2B SaaS TechFin company, further strengthens Clari5’s capabilities, bringing together expertise in data analytics, decisioning, and risk management.

The acquisition of Clari5 by Perfios was a strategic move to build a more comprehensive fraud and risk management ecosystem. “This acquisition allows us to offer a more robust and integrated suite of solutions to our clients,” said a source familiar with Perfios’ strategy. “By combining Clari5’s advanced fraud detection capabilities with Perfios’ expertise in data analytics and decisioning, we can help financial institutions better protect their customers and assets.”

Beyond Security: Accelerating Digital Transformation

PVB’s commitment to digital transformation goes beyond simply implementing a new fraud prevention platform. The bank has been actively investing in modernizing its infrastructure, launching online and mobile banking services, and developing new digital products and services. This transformation is driven by a desire to provide a more convenient and accessible banking experience for its customers, while also improving efficiency and reducing costs.

The bank’s digital initiatives align with the broader push for financial inclusion in the Philippines, spearheaded by the Bangko Sentral ng Pilipinas (BSP). The BSP’s Digital Payments Transformation Roadmap aims to digitize a significant portion of retail transactions and onboard a large number of Filipinos into the financial system.

“Digital transformation is no longer an option; it’s a necessity,” commented an industry analyst specializing in the Philippine banking sector. “Banks that fail to embrace digital technologies will be left behind. PVB is taking a proactive approach, investing in both security and innovation.”

A Rapid Implementation and Focus on GenAI

Notably, PVB achieved a remarkably rapid implementation of the Clari5 platform – a testament to the bank’s agile approach and the platform’s ease of integration. Sources within PVB indicate this implementation was significantly faster than industry averages, allowing the bank to quickly realize the benefits of enhanced fraud prevention.

Looking ahead, PVB is exploring the potential of Generative AI (GenAI) to further enhance its fraud prevention capabilities. The Clari5 platform is “GenAI-ready,” which means it can be easily integrated with new GenAI technologies as they become available.

“We see GenAI as a game-changer in the fight against fraud,” explained a source within PVB's technology department. “It has the potential to automate many of the tasks currently performed by human analysts, and to identify even more sophisticated fraud schemes.”

Navigating the Challenges of Digitalization

While the benefits of digital transformation are clear, it’s important to acknowledge the challenges. One of the biggest challenges is the increasing sophistication of cybercriminals. Fraudsters are constantly developing new techniques to bypass security measures, and financial institutions must stay one step ahead.

Another challenge is the need to balance security with customer experience. Customers want convenient and seamless banking experiences, but they also want to know that their data is secure. Financial institutions must find ways to provide a high level of security without sacrificing customer convenience.

“It’s a delicate balance,” said an industry expert. “You need to provide robust security measures, but you also need to make it easy for customers to do business with you.”

PVB: A Model for Proactive Security

PVB’s partnership with Clari5 and its commitment to digital transformation are positioning the bank as a leader in proactive security. By investing in advanced technologies and embracing a forward-looking approach, PVB is protecting its customers and assets, while also driving innovation and growth.

“PVB is a model for other banks in the Philippines,” said an analyst. “They’re demonstrating that it’s possible to embrace digital transformation without compromising security.”

As the Philippine financial landscape continues to evolve, PVB is well-positioned to thrive in the digital age. By prioritizing security, innovation, and customer experience, PVB is building a foundation for long-term success.