Saudi Arabia’s AI Powerhouse, Mozn, Recognized as One of the World’s Top FinTechs for 2023
Riyadh: Gulf Tech News
Saudi Arabia’s Mozn, a market leader in enterprise artificial-intelligence technologies, today announced that it has been recognized as one of the Top 200 FinTech Companies globally, and one of the Top 25 in the “Digital Business Solutions” category by Statista, a leading statistics firm. Mozn’s Flagship product FOCAL is an AI-powered risk and compliance platform being adopted by financial institutions including Banks, Insurers and fintechs across emerging markets.
The “World’s Top FinTechs 2023” list presents an in-depth analysis of key performance indicators (KPIs) across nine distinct market segments. The comprehensive assessment examined more than 1,500 companies from March to May 2023. Each company’s evaluation was based on a multi-level KPI research approach, which gave 40% weight to overarching KPIs and 60% weight to segment specific KPIs like digital payments, neo banking, alternate financing, digital wealth management, digital financial planning etc, to derive the final score.
As a comprehensive solution, FOCAL by Mozn excels in identifying, measuring and mitigating risk, preventing fraud and ensuring AML and KYC/KYB compliance on an international scale. FOCAL has crossed over 1 billion screening checks on beneficiaries to date, to empower clients to improve efficiency, customer experience and achieve compliance whilst taking a risk-based approach.
Leveraging Mozn’s market-leading AI engine combined with configurable automation, FOCAL is setting new standards in the Industry for rapid, accurate and explainable risk decisioning in Arabic and Latin alphabet languages. A custom rule builder enhances FOCAL’s adaptability, enabling ‘out-of-the-box’ setup and bespoke configurations to get rapid access to intelligently automated risk-based compliance fast and achieve quick time to value. This automation empowers organizations to define thresholds, seamlessly approving, reviewing, or blocking requests as per their own risk appetite and threshold.
As FOCAL evolves and adds to its powerful AI-driven capabilities and continues to grow the list of satisfied clients, Mozn solidifies its position as a trusted partner in delivering impactful risk intelligence and fraud prevention solutions.
“We are immensely honored to be recognized as one of the World’s Top FinTech Companies in 2023 by Statista, and to be the company representing the Kingdom of Saudi Arabia in the report” said Dr. Mohammed Alhussein, Founder and Chief Executive Officer at Mozn. “This esteemed recognition is not just an accolade, but a testament to our unyielding commitment to driving financial security and compliance through AI technology in alignment with the Saudi Vision 2030. It further fuels our inspiration and resolve to continually raise the bar, innovate, and make significant strides in our mission to redefine financial safety and integrity. As we continue to expand, we pledge to remain at the forefront of technological innovation, ensuring our solutions are always reliable, effective, and ahead of the curve.”
