AlRajhi Bank Partners with Mozn to Harness AI in the Fight Against Fraud

Press release

Published October 20th, 2025 - 10:29 GMT

AlRajhi Bank Partners with Mozn to Harness AI in the Fight Against Fraud

Mozn, a regional leader in enterprise AI technologies, has entered into a strategic agreement with AlRajhi Bank, aimed at supporting the bank’s efforts in combating financial fraud through Mozn’s AI-driven financial crime prevention platform, FOCAL.

Saudi Arabia’s economic transformation is accelerating, and digital finance now stands as a key driver of the Kingdom’s pursuit of economic excellence. In 2024, electronic payments made up 79% of all retail transactions, up from 70% in 2023, with 12.6 billion non-cash payments processed across Saudi Arabia. This strategic pivot, underpinned by advanced digital infrastructure, highlights the Kingdom’s commitment to building a strong digital economy.

Amid this rapid digital shift, FOCAL by Mozn offers capabilities that are essential in this landscape, empowering organizations to detect and prevent financial crime faster than ever before, and generating real-time, actionable risk intelligence. By deploying FOCAL, AlRajhi Bank strengthens its customer protection, regulatory alignment, and digital growth strategy, demonstrating a forward-looking commitment to innovation in a rapidly evolving financial landscape.

“Innovation in financial services is transforming Saudi Arabia’s economy, but it also brings unprecedented risk,” said Dr. Mohammed Alhussein, Founder and CEO at Mozn. “At Mozn, we’re redefining fraud prevention with AI-powered solutions like FOCAL, that reimagine how financial institutions safeguard trust. Our collaboration with AlRajhi Bank reflects the power of strategic partnerships in driving innovation and resilience. Together, we’re setting new benchmarks for security in Saudi Arabia’s financial ecosystem”.

The collaboration reflects Mozn’s leadership in AI-driven financial crime prevention, aligned with AlRajhi Bank’s commitment to secure, customer-centric innovation. Together, the organizations are helping to advance Saudi Arabia’s position as a global hub for trusted, technology-led financial services.

Background Information

Al Rajhi Bank

Founded in 1957, Al Rajhi Bank is one of the largest Islamic banks in the world with total assets of SR 343 billion (US$ 90 billion), a paid up capital of SR 16.25 billion (US$ 4.33 billion) and an employee base of over 9,600 associates. With over 60 years of experience in banking and trading activities, the various individual establishments under the Al Rajhi name were merged into the umbrella 'Al Rajhi trading and exchange corporation' in 1978 and it was in 1988 that the bank was established as a Saudi share holding company. Deeply rooted in Islamic banking principles, the Sharia compliant banking group is instrumental in bridging the gap between modern financial demands and intrinsic values, whilst spearheading numerous industry standards and development.