Advanced AI-driven module expands Pelican AI's established relationship with one of the Middle East's largest banks
Toronto, Ontario--(Newsfile Corp. - September 23, 2026) - Pelican AI (CSE: PEL) ("Pelican" or the "Company"), a provider of artificial intelligence-powered payments, financial crime compliance and trade finance solutions, is pleased to announce that a leading United Arab Emirates-based financial institution has selected Pelican's Advanced Trade-Based Money Laundering ("TBML") Module. The original agreement for the expansion was signed in July 2025, and the solution is currently in the final phase of production deployment.
The financial institution is the largest bank in the UAE and provides personal, corporate and international banking services from its headquarters in Abu Dhabi. The bank has relied on Pelican's Trade Compliance solution for several years to automate and digitize regulatory compliance processes across its trade finance operations.
The expanded deployment is designed to automate complex TBML controls required under UAE Central Bank guidelines. These controls include identifying potential over-invoicing and under-invoicing, phantom shipping, vessel and voyage inconsistencies, and other trade-related money-laundering red flags that have traditionally required significant manual review.
Pelican's Advanced TBML Module uses artificial intelligence, natural language processing and machine learning to interpret trade documentation, recognize patterns and detect anomalies across high volumes of complex transactional data.
Through API integrations, the solution can also access external data sources, including real-time and historical commodity pricing, vessel movements, voyage histories and maritime intelligence. Combining trade documentation with authoritative third-party data is expected to improve the accuracy and reliability of risk detection while reducing false positives and manual intervention.
"This deployment represents an important expansion of an established relationship with one of the Middle East's most prominent financial institutions and further validates Pelican's ability to solve highly complex regulatory and operational challenges for global banks," said Nino Di Teodoro, Chief Executive Officer of Pelican AI. "Trade-based money laundering is particularly difficult to detect because it requires the interpretation of unstructured documents, transaction patterns and external market data. Pelican's advanced AI capabilities bring these elements together within a single solution, helping financial institutions strengthen compliance, improve efficiency and respond more effectively to evolving financial crime risks."
The implementation has been undertaken in alignment with the bank's operational, compliance and technology frameworks. Once fully deployed, the Advanced TBML Module is expected to support the bank in:
- Meeting applicable UAE Central Bank TBML requirements;
- Identifying and reporting complex money-laundering scenarios;
- Strengthening protection against financial and reputational risks;
- Reducing manual intervention across trade finance operations; and
- Improving processing efficiency and transaction turnaround times.
The deployment demonstrates Pelican's ability to expand its relationships with existing financial institution clients by introducing additional AI-powered products that address mission-critical compliance requirements. It also highlights the potential scalability of Pelican's technology across banks and jurisdictions facing increasingly sophisticated financial crime risks and regulatory expectations.
About Pelican AI
Pelican AI is a financial technology company providing artificial intelligence-powered solutions for payments, financial crime compliance and trade finance. With more than 30 years of proprietary AI expertise, Pelican's technology is trusted by major financial institutions across more than 55 countries and has processed more than 2 billion transactions representing approximately $10 trillion in value.
Pelican's technology uses artificial intelligence, machine learning and natural language processing to help financial institutions automate payment processing, improve straight-through processing, strengthen financial crime compliance and modernize transaction banking infrastructure. Its solutions include Pelican Payments, Pelican Secure and AI-powered trade finance applications.
For more information, visit Pelican AI's website: https://pelican.ai/
On Behalf of the Board
Nino Di Teodoro
Chief Executive Officer, Pelican AI
T: +1 (732) 603 4990
E: investor@pelican.ai
Investor Contact:
investor@pelican.ai
Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation, including statements regarding the commencement of trading of the Common Shares on the CSE under the symbol "PEL", the Company's business plans and objectives, and the status and potential outcomes of the disclosed litigation. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially, including the risk that trading does not commence when anticipated, the risks associated with the disclosed litigation, general economic and market factors, competition, and the other risks described in the Company's public disclosure documents available on SEDAR+. Readers are cautioned not to place undue reliance on forward-looking information. The Company disclaims any obligation to update forward-looking information except as required by law.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities referred to in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States absent registration or an applicable exemption.
Pelican is involved in ongoing litigation. Readers are directed to the Company's August 27, 2026 news release and the disclosure in "Item 23 - Legal Proceedings and Regulatory Actions" and "Item 21 - Risk Factors" in the Company's CSE Form 2A Listing Statement available on the Company's SEDAR+ profile at www.sedarplus.ca for further details.
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