Andrea Danielli, CEO of Mopso, a startup helping financial institutions by making regulatory compliance in anti-money laundering less burdensome and more effective answered our questions about Mopso DNA and the journey leading to its creation.

1 - Please introduce your company and the products/services it offers.

Mopso is a startup that develops solutions that help financial institutions by making regulatory compliance in anti-money laundering less burdensome and more effective, respectively Brain and Amlet. Brain is a risk assessment tool that helps banks and financial institutions find suspicious transactions and high-risk customers, using semantic web technologies. Amlet makes adequate verification data “portable” and reusable within an ecosystem of intermediaries, simplifying onboarding procedures and reducing the risk of money laundering. Amlet checks and verifies personal information, creates a standard for exchanging and sharing it among financial institutions, and relies on decentralized digital identity to store data securely.

2 - What led to the creation of your company?

As a former anti-money laundering analyst at the Bank of Italy, I immediately realized that navigating the choppy waters of compliance can be challenging for many banks and financial institutions. Hence the idea of creating a platform to improve anti-money laundering controls using artificial intelligence was born, and we firmly believe that Luxembourg can be our gateway.

3 - What is the most difficult or unexpected thing you've had to overcome on your journey?

Innovating with incumbents is complex, as they already have lots of software in place to address the same issues we are. Not only do we need to convince them that we are better than traditional solutions, but we also have to reassure them that the integration of our solution into their legacies will not take years nor millions of euros. After meeting with hundreds of prospects, this is their number one priority and we have accordingly adapted our software to ease adoption.

4 - How is your offering different from your competitors and other market players?

Our strengths include effectiveness in identifying money laundering patterns, efficiency in report analysis, and ease of integration with existing processes using cutting-edge technology. We ensure a simple and smooth implementation that preserves past investments. Mopso Brain relies on knowledge graphs and AI algorithms to enrich and connect data with open source intelligence techniques, providing completely explainable and traceable results. We believe that human analysts enhanced by algorithms are the strongest tool to fight financial crime, which is why we don’t create black boxes. With Mopso Amlet, financial institutions can onboard new customers in just a few seconds, enabling customers to reuse their credentials across multiple FIs and other companies

5 - What did you find at LHoFT ?

Luxembourg is one of the Eurozone’s leading financial centre and the second largest investment fund centre in the world, and the LHoFT is its beating heart. We are finding here many relevant connections with the fintech scene and Luxembourgish investors.

6 - What's next?

We are applying for a big R&D project with the LIST to improve our technology and we are discussing with some interesting prospects, mainly about our innovative onboarding solution. Most importantly, we are raising funds to expand our market and further develop our solutions, adding new exciting features.