Interview: Mozn Chief Operating Officer is ‘FOCAL’ about the need for AI in the finance sector

CNME Editor Mark Forker spoke to Malik Alyousef, Co-Founder and Chief Operating Officer at Mozn to learn more about their participation at the recent Dubai FinTech Summit, the challenges facing businesses looking to adopt AI – and the role they play in combating fraud within the financial ecosystem across the UAE.

Could you provide details about Mozn’s participation in DFS and share insights into what they are showcasing at the Summit?

Our participation at the Dubai Fintech Summit not only allows us to showcase our products, but also provides a significant platform to spread awareness about the transformative potential of AI in the financial sector.

This year at DFS, we are showcasing FOCAL, which is an AI-powered platform that plays a pivotal role in combating fraud and ensuring organizational compliance within the financial industry.

By leveraging advanced AI and analytics to detect and mitigate risks in real-time. It’s designed to address the complexities of regulatory environments, ensuring that organizations can navigate these challenges seamlessly while maintaining operational efficiency.

Our presence at the Summit underscores our commitment to driving innovation in the finance sector. We believe that solutions like FOCAL are instrumental in enhancing security, efficiency, and trust within the financial sector.

Our goal is to continue pushing the boundaries of what’s possible in the sector, ultimately empowering organizations to thrive in today’s digital economy through harnessing the endless powers of AI.

What are some of the challenges facing the adoption of AI in the MENA region?

The barriers facing AI implementation are multifaceted. One critical hurdle is the lack of sufficient awareness regarding AI’s potential to revolutionize all industries.

Many organizations are yet to grasp the full scope of AI’s capabilities and how it can be tailored to suit their specific needs.

Additionally, another major obstacle is the limited success rate of AI implementation efforts.

The financial commitment needed for effective AI deployment, spanning from acquiring the essential technology and tools to recruiting proficient professionals, can be considerable.

What are some of the factors driving the growth of AI in the MENA region?

A focus on digital transformation across a range of industries is driving the growth of AI in the MENA region. Many businesses in the region are recognizing the potential of AI to drive efficiency and productivity gains and are investing in developing AI-driven solutions to improve their operations.

Additionally, governments in the region are recognizing the potential of AI to drive economic growth and are investing in developing policies and regulations that support its adoption.

What sets MOZN apart from the rest of the organizations? And tell us more about your efforts in combating fraud.

Mozn stands out in the field of AI through an unparalleled blend of innovation, specialization, and a steadfast commitment to advancing digital progress for humanity.

Leveraging cutting-edge AI capabilities, FOCAL delivers precise and adaptable solutions skilled at detecting fraudulent activities and ensuring precise regulatory compliance.

This exemplifies Mozn’s expertise in crafting specialized AI tools finely tuned to address the complexities of the financial industry.

Our strategic emphasis on fraud prevention not only underscores our dedication to fortifying security and integrity but also magnifies our impact in shielding businesses against the relentless evolution of threats in today’s digital era.