Saudi’s Mozn & Deloitte partner to combat financial crimes

By Arya M Nair, Official Reporter
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Mozn_Deloitte partnership
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Mozn, a Saudi-based market leader in enterprise AI technologies, has signed a Memorandum of Understanding (MoU) with Deloitte, the globally leading professional services organization, to combat financial crime, bolster regulation, and empower the financial services industry in Saudi Arabia, the Middle East, and North Africa to mitigate risks.

The MoU was signed between both organizations during LEAP23 and it strives to transform the finance digital reg-tech, risk, anti-money laundering (AML), and compliance space. Mozn’s pioneering AI-powered financial crime prevention suite FOCAL is already being utilised by many esteemed customers in the MENA region for AML screening, transaction monitoring, risk scoring, and compliance case management.

The capabilities of Mozn will combine with Deloitte’s deep expertise in reg-tech advisory and consulting to offer cutting-edge solutions, advisory and consulting across the region’s financial sector, from banking to fintech to capital markets and insurance.

Malik AlYousef_Mozn_Deloitte AML partnership
Malik AlYousef
Co-founder, COO

“The rapid growth in digitalization has inevitably created opportunities for financial crime. As such the risk and compliance functions are now faced with the challenge of staying up to date with the constantly changing regulatory landscape and protecting organizations from potential frauds, money laundering and other financial crimes. Our partnership with Deloitte strengthens our trust with customers to help them monitor and mitigate that risk. Through this collaboration, we will bring together a wealth of resources to offer state-of-the-art advisory and best-in-class solutions in the risk, compliance and AML space for all types of companies across the financial sector.”

“Our strategic relationship with Mozn will bring together the best technology solutions and resource capabilities to help firms in combatting financial crime,” said Mr. Steve Punch, Financial Risk and Regulatory Partner at Deloitte.

“As firms look to invest in new functionality with increased accuracy and efficiency, the combination of Mozn and Deloitte will bring the best reg-tech services to our clients,” added Mr. Punch.

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