Saudi Arabia’s Mozn, a market leader in enterprise artificial-intelligence technologies, announced a regional expansion that will take the company into the thriving AI, finance and fintech markets of the United Arab Emirates and the GCC, according to a press release.

The announcement came at the Dubai Fintech Summit, held at Madinat Jumeirah, Dubai.

Mozn’s expansion into the GCC market through its UAE office will help provide innovative regulatory compliance and anti-fraud solutions powered by advanced AI. 

Targeting financial institutions such as banks, digital banks, fintechs and other large financial organisations, Mozn solutions make it easier to see the whole board and identify suspicious behaviour patterns in real time.

“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,” said Dr. Mohammed Alhussein, Founder andChief Executive Officer at Mozn. 

“We are excited to begin this next chapter in Mozn’s growth journey as we enter the broader GCC market through our UAE office. 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. 

The Dubai FinTech Summit brings together enterprises, governments, thought leaders, and policy makers, to network and collaborate on the development of technology, regulations, and best practices with a view toccelerating financial innovation.

The AI-powered risk and compliance platform Mozn’s FOCAL  is playing a significant role in the region’s fight against financial crime and is bolstering compliance across the sector. 

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 AML screens and monitors customers and their transaction using advanced name-matching algorithms that are uniquely optimized for Arabic language andnames and reconciles them against more than 1,300 automatically updated global and local sanctions and PEP lists to help satisfy AML and KYC/KYB requirements.

FOCAL combines a wealth of datapoints to score risk (for both fraud and money laundering) that automates a custom next action based on the highly configurable rules and the organization’s own risk appetite. 

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%.

Mozn has offices in 3 different countries – KSA, UK; the UAE, and employs more than 150 employees.