Deal to strengthen financial crime prevention with FOCAL platform
Mozn, a regional leader in enterprise AI technologies, has entered into a strategic agreement with STC Bank, to deploy Mozn’s financial crime prevention platform, FOCAL.
The collaboration reflects a shared commitment to advancing security and innovation in Saudi Arabia’s digital ecosystem.
FOCAL is designed to empower financial institutions with Financial Crime Intelligence (FCI), enabling them to detect and prevent financial crime and deliver risk insights. By adopting FOCAL, STC Bank is enhancing its ability to safeguard customers, meet regulatory requirements, and scale its digital services confidently in an increasingly complex financial landscape, according to a press communique.
Benchmarks for resilience
“With FCI at its core, FOCAL helps institutions like STC Bank set new benchmarks for resilience and trust in digital banking. This partnership demonstrates how homegrown innovation can safeguard customers, meet regulatory expectations, and accelerate the secure growth of Saudi Arabia’s digital economy,” explained Abdullah Alshubrami, Chief Commercial Officer, Mozn.
“This partnership reinforces our role as a pioneer in next-generation banking and reflects our commitment to setting new standards of security and intelligence across the Kingdom’s financial sector,” reiterated Ibrahim Alqahtani, Director Anti-Fraud, Bribery and Corruption, STC Bank.
Pivotal moment
Mozn’s partnership with STC Bank comes at a pivotal moment for the Kingdom’s financial services sector. The collaboration underscores Mozn’s deep expertise in AI, data analytics, and regulatory technology, paired with STC Bank’s vision for a secure, customer-first digital banking future.
Together, the two organizations are helping to advance Saudi Arabia’s position as a global leader in technology-driven, compliant, and trusted financial services, the press statement concluded.
