Al Rajhi Bank Partners with Mozn to Harness AI in Fraud Prevention

Al Rajhi Bank has signed a strategic agreement to deploy Mozn's FOCAL platform, strengthening its financial crime compliance framework with AI-driven transaction monitoring and real-time fraud detection.

The deployment integrates Mozn's machine learning models into Al Rajhi's compliance operations, automating the screening and investigation of suspicious transactions across the bank's extensive retail and corporate customer base. Al Rajhi Bank, the world's largest Islamic bank by market capitalisation, processes vast transaction volumes that require advanced detection capabilities.

FOCAL's AI-driven approach enables Al Rajhi to identify complex fraud patterns and money laundering typologies that rule-based systems may miss, while reducing the false positive alerts that consume compliance analyst resources. The platform produces auditable decision trails that meet the regulatory documentation requirements set by SAMA.

The partnership adds Al Rajhi to Mozn's growing roster of Saudi banking clients, which includes D360 Bank and STC Bank. The concentration of major Saudi financial institutions on the FOCAL platform gives Mozn an increasingly comprehensive view of financial crime patterns in the Kingdom, improving detection accuracy across all clients.

Al Rajhi Bank has been investing in technology across its operations, including partnerships for e-commerce loyalty, digital banking platforms, and AI-powered credit scoring. The Mozn deployment adds financial crime prevention to the bank's expanding technology partnership portfolio.

The agreement reflects the growing regulatory emphasis on AI-powered compliance in Saudi Arabia's financial sector.