Al-Ansari Exchange, Pelican to introduce AI-based financial crime compliance solution

Thus, Pelican will implement AI-based sanctions screening, anti-money laundering, and transaction monitoring solution, PelicanSecure, in line with Al-Ansari Exchange’s strategy and commitment to build a compliance framework.

PelicanSecure employs advanced AI technologies to analyse transactions flagged for investigation through sanction screening tools. Pelican uses machine learning and natural language processing to identify, screen, and report suspicious transactions.

Pelican has a strong footprint in the financial market with a portfolio of clients including financial institutions such as ADCB, Standard Chartered Bank, Al Mulla Exchange, Wells Fargo, State Bank of India and Bank of Barbados, according to the official press release.