Mozn, a Saudi Arabia-based market leader in enterprise AI technologies, has entered into a strategic partnership with a global software solutions provider, Red Hat, to equip local and regional enterprises with a wider offering of its Anti Money Laundering (AML) compliance and anti-fraud product, FOCAL.
As part of the partnership, Mozn will utilize Red Hat’s leading Hybrid Cloud technologies to deliver flexible offerings of its cutting-edge capabilities in monitoring, analysis, and risk mitigation through FOCAL’s AML compliance suite, bringing the industry’s best anti-fraud tools and expertise into the realm of Finance Intelligence.
FOCAL enables financial institutions to dismantle AML compliance barriers and tackle financial crime through cutting-edge technology. FOCAL empowers customers to screen their clients with confidence using advanced name-matching algorithms that can accurately understand Arabic and Latin languages, as well as monitor transactions using tailored rules and historical behavior to flag potentially suspicious transactions and prevent financial crime.
Dr. Mohammed Alhussein Founder & CEO – Mozn
“As fraudsters up their game, stakeholders in the region must rise up to the challenge and protect consumers and businesses from those that would do them harm. Through Mozn’s strategic collaboration with Red Hat, our best-in-class AML compliance and anti-fraud platform, FOCAL, will now be available on-premises as well as on the cloud, to give our customers the freedom of choosing the setup that best suits them while taking the fight against financial crime.”
The AI-driven platform has access to more than 1,300 up-to-date global and local sanctions and politically exposed person (PEP) lists for risk management and provides flexible Application Programming Interfaces (APIs) that enable the automatic processing of thousands of screenings every day with seamless onboarding and scalable integration capabilities.
“Collaboration of this nature further strengthens trust with customers, where a readily available and innovative platforms, such as Red Hat’s, can help secure transactions and enhance the monitoring and mitigation of risks,” remarked Mr. Adrian Pickering, General Manager MENA, Red Hat.
