Mopso and LIST to develop a joint solution

Mopso SARL, a leading RegTech company, in collaboration with the Luxembourg Institute of Science and Technology (LIST), has been awarded a significant grant by the Ministry of the Economy and Luxembourg National Research Fund (FNR) under the Joint Call HPC (High Performance Computing) program.

Source : Agefi
Date de publication : 21/11/2024

This grant will fund their innovative project, i.e., PAMLA, aimed at revolutionizing anti-money laundering (AML) efforts in the financial sector. PAMLA (Performant Anti Money Laundering Analytics) will leverage Mopso’s expertise in semantic web technologies and LIST’s advanced research capabilities to develop cuttingedge solutions for detecting suspicious transactions and high-risk customers. The project will utilize high-performance computing to process and analyze vast amounts of data, enhancing the efficiency and accuracy of AML processes.

Mopso, founded in 2021 and operating in Luxembourg since the end of 2022, brings to the table its innovative Brain solution, which has already made waves in the Italian financial market.

The company’s CEO, Andrea Danielli, brings 14 years of experience in the AML sector, while CTO Enrico Fagnoni contributes over two decades of expertise in large-scale software projects and semantic web technologies. LIST, as the public partner, will provide its world-class research facilities and expertise, enriched by recent projects into network analysis, ensuring that the project remains at the forefront of technological innovation.

Fintan McGee, lead Research & Technology scientist, stated: “This grant is a testament to the potential of our cutting-edge research and technology and the strength of our partnership with MOPSO. Leveraging state-of-the-art visual analytics tools driven by the latest Machine Learning approaches, and exploiting High Performance Computing infrastructure and techniques, PAMLA will enable new techniques to be applied to quantify AML risk, that would otherwise by infeasible due to the lack of processing power”.

Andrea Danielli, CEO of Mopso, said: “With PAMLA, we aim to set new standards in AML compliance, making the financial system safer and more effective in fighting organized crime. Our solution will reduce the time needed in transaction monitoring analysis, creating less false positives”.

The project is expected to yield commercially viable products by early 2027, with potential applications across the European financial sector. Mopso plans to use its position within Luxembourg’s thriving FinTech ecosystem to expand its reach into France, Belgium, The Netherlands, and Germany.

For LIST, this grant confirms its engagement in the financial sector and will produce new, direct knowledge in network analytics and advanced machine learning techniques.