UAE-based AI fintech startup CrossVal, which is backed by the Mohammed Bin Rashid Innovation Fund (MBRIF), has announced a regional expansion of its sovereign AI-powered finance and accounting platform. The expansion is in partnership with Core42, a G42 company specializing in sovereign cloud and AI infrastructure.
This strategic collaboration will focus on deploying compliant, secure, and locally hosted AI solutions for enterprises, government entities, and regulated industries in the UAE, Saudi Arabia, and the wider region.
Automating Finance With Sovereign AI
The platform is already used by over 1,000 businesses and is designed to tackle inefficiencies in financial operations. It uses AI to automate key tasks like reconciliation, bookkeeping, intercompany matching, and tax compliance.
By integrating with Core42’s UAE-based infrastructure, the system ensures regional data residency and compliance with local regulations, including UAE Corporate Tax, VAT, and the KSA’s ZATCA framework.
New Intelligent Finance Tools
The platform introduces several new intelligent finance tools, including:
- A conversational AI CFO Assistant: Accessible via WhatsApp, web, or API, it can retrieve reports and manage tax deadlines.
- An automated reconciliation engine: This provides over 95% accuracy across banks, ERPs, and payment gateways.
- An integrated tax compliance module: The module dynamically updates as new regulations are introduced.
The system is built for enterprise-scale use and supports multi-entity consolidation and real-time cash-flow visibility. It offers flexible deployment models, including SaaS, Virtual Private Cloud (VPC), and on-premise options, making it suitable for complex organizations in regulated sectors.
“Finance teams across the region continue to spend an outsized amount of time on manual accounting and reconciliation,” said Ajinkya Tanpure, Founder and CEO of CrossVal. “Our partnership with Core42 enables the deployment of the region’s first sovereign AI finance platform, a system designed to earn trust in every number, reduce operational load, and simplify compliance at scale.”
The regional rollout is underway in the UAE and KSA. CrossVal’s selection for the MBRIF Innovation Accelerator last year was pivotal in accelerating this growth.
About CrossVal
CrossVal is a UAE-based AI fintech startup focused on automating finance and accounting operations. Backed by the MBRIF, its platform provides AI-powered solutions for reconciliation, bookkeeping, and tax compliance to over 1,000 businesses in the MENA region.
About Core42
Core42 is a G42 company specializing in sovereign cloud and AI infrastructure, providing secure and compliant AI solutions tailored for enterprises and government entities.
Source: Press Release
