STC Bank partners with Mozn to strengthen financial crime prevention through FOCAL platform

03/10/2025 01:44 AST

Mozn, a regional leader in enterprise AI technologies, has entered into a strategic agreement with STC Bank, to deploy Mozn's flagship 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.

"The rapid pace of digitalization has created new opportunities but also new risks for financial institutions," said Abdullah Alshubrami, Chief Commercial Officer at Mozn. "FOCAL empowers financial institutions with real-time intelligence, advanced analytics, and automated compliance workflows that enable them to act decisively against evolving threats. 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."

"AI is reshaping the future of finance, and we see it as a catalyst for both innovation and trust," said Ibrahim Alqahtani, Director Anti-Fraud, Bribery and Corruption, STC Bank. "By integrating Mozn's FOCAL platform into our operations, we gain the agility to anticipate emerging threats, enhance customer confidence, and accelerate Saudi Arabia's digital economy. 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."

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.

Mozn is a Saudi technology company committed to advancing digital humanity through the harnessing of artificial intelligence to build enterprise AI-powered products - FOCAL, the end-to-end Fraud Prevention and AML Compliance platform and OSOS, the leading Gen AI platform for the enterprise. Mozn is at the forefront of technological innovation, striving to redefine the limits of what is possible in the digital age.

Saudi Gazette