Regional AI leader to bring AML and Anti-Fraud capabilities to financial institutions across the Emirates, GCC, boosting their compliance journeys and accelerating economic progress.
Saudi Arabia’s Mozn has made a strategic announcement regarding a regional expansion that will take the company into the thriving AI, finance and fintech markets of the United Arab Emirates and the GCC. The announcement came at the Dubai Fintech Summit, held in Dubai.
The event witnessed Mozn’s senior executives speaking on the need for AML/CFT (anti-money-laundering and combatting the financing of terrorism) and fraud-prevention technologies.
“The UAE has been making significant strides in enhancing its AML compliance and combating financial fraud, and Mozn’s entry into the UAE market will help accelerate these efforts. We look forward to collaborating with prominent financial institutions in these markets, re-enforcing their compliance stance and further improving the stability of these nation’s financial sectors through our anti-fraud solutions. Mozn firmly believes that our collective efforts contribute to these government’s economic diversification initiatives, and it will leave no stone unturned in doing so,” said Dr. Mohammed Alhussein, Founder and Chief Executive Officer Moz, Mozn.
Mozn’s expansion into the GCC market through its UAE office will see it provide innovative regulatory compliance and anti-fraud solutions powered by advanced AI. Aimed at financial institutions such as banks, digital banks, fintechs and other large financial organisations, these solutions make it easier to see the whole board and identify suspicious behaviour patterns in real time.
Mozn’s FOCAL – the AI-powered risk and compliance platform – plays a significant role in the region’s fight against financial crime and is bolstering compliance across the sector. FOCAL Anti-fraud, proactively identifies suspicious patterns and prevents criminals from successfully defrauding organisations and their clients by confirming the identity of payees automatically by checking data input against the destination account’s records.
Clients using FOCAL by Mozn are making better informed strategic decisions, getting compliant fast and staying that way as well as increasing team efficiency and reducing investigation time by up to 95%.
