MAURITIUS RESEARCH AND INNOVATION COUNCIL
Technological Solutions emanating under the
Public Sector Transformation Scheme (PSTS)
The aim of the PSTS is to support innovative collaborative projects that test new approaches/technologies by start-ups and SMEs for improving processes and enhancing service delivery in the public sector.
Two projects have been completed under the PSTS and the outcomes were made public through two launching events:
An Artificial Intelligence (AI) Powered Trusted Due Diligence Platform with Integrated Dynamic Scoring Engine.
The official launching event for the completion of this project, which emanated from a collaboration between Anglo Nanotech Ltd and the Financial Services Commission (FSC), was held on Thursday 2nd Feb 2023 at 14h00, at FSC Auditorium, FSC House, Ebène, in the presence of Hon D Balgobin, Minister of Information Technology, Communication and Innovation, and Hon M Seeruttun, Minister of Financial Services and Good Governance.
The objectives of the project were to (i) develop a solution which aims to be the first AI powered platform using trusted sources like Worldcheck, Accuity and Comply-Advantage and media searches, with an integrated scoring engine to give a score to each due diligence being performed by the Financial Services Commission (FSC), and (ii) help move the due diligence process from a time-based monitoring based on risk level to a real-time surveillance, resulting in risk scoring monitoring.
The scoring engine assesses the nature of business, sector of activities, country of origin of shareholder and directors, country of investment, PEP list, sanction report, adverse media report, multilayer organization, and ultimate beneficiary owners, amongst others.
It allows the compliance team to define the perception of risk based on low, medium, high and extreme. Regulators and institutions around the globe have recognized that innovative technologies and advanced analytics are central to coping with the rapid evolution of financial crime. The configuration engine gives full control to the compliance team to define and maintain their entire regulatory framework at service level.
Price monitoring and control application (MOPRI)
The official launching ceremony of the "MOPRI" mobile application was carried out on Thursday, 18th May 2023 at 10h00 at Conference Hall A, 1st Floor, Shri Atal Bihari Vajpayee Tower, Ebène, in the presence of Hon D Balgobin, Minister of Information Technology, Communication and Innovation, and Hon S S Callichurn, Minister of Labour, Human Resource Development and Training, Minister of Commerce and Consumer Protection.
The MOPRI Application developed by Verde Frontier Solutions Ltd and in collaboration with the Ministry of Commerce and Consumer Protection (MCCP) addresses the need for the MCCP to implement a modernized and efficient system to enable close monitoring of prices of goods.
The MOPRI Application includes a website and applications for retailers, Customer Protection Unit officers and for customers. This Application also complements the requirements of the MCCP in relation to its Observatoire des Prix. Exchange of information and operational coordination between authorities will be facilitated through this solution. The MOPRI Application will provide an established methodology for collecting and verifying information, giving all stakeholders an effective and comprehensive platform for price control and monitoring in the country.
