At LEAP 2025, Saudi technology company and provider of enterprise AI tech Mozn is showcasing its advanced AI-powered risk and compliance platform, FOCAL, designed to transform fraud prevention and AML compliance.

As Saudi Arabia advances its Vision 2030 ambitions, AI is playing a crucial role in securing digital transactions and mitigating financial crimes. In this interview, we speak with Malik Alyousef, co-founder and COO of Mozn, to explore how its AI-driven solutions are supporting industries such as banking, fintech and e-commerce, ensuring businesses stay ahead in compliance, security and innovation.

What are you showcasing at LEAP?

At LEAP, we are showcasing the latest evolution of our AI-powered risk and compliance platform, FOCAL, with a strong focus on end-to-end fraud prevention and management. FOCAL is built around two key suites: one focused on fraud prevention and the other on AML compliance. With the rapid expansion of the digital landscape in the kingdom and the region, we’ve observed a significant rise in fraudulent activities. Fraudsters are constantly developing new methods to exploit vulnerabilities across industries.

In response, we’ve expanded our Fraud Prevention Suite to include three new products: device fingerprinting, fraud analytics, and fraud management as a service (FMaaS) — providing real-time end-to-end fraud prevention and management for businesses in the region and beyond.

Our new products are designed to offer fully managed fraud prevention and management services to businesses across industries such as BFSI, fintech, e-commerce, telecom, and government. This approach allows organisations to focus on their core operations and deliver exceptional service to their customers, while FOCAL’s experts handle fraud risk on their behalf.

Share insights on how the AI set is to revolutionise tech in Saudi Arabia.

AI is set to revolutionise technology in Saudi Arabia by becoming the driving force behind digital transformation across industries. With the Kingdom’s ambitious Vision 2030, AI is enabling smarter decision-making, automation, and efficiency in sectors like finance, healthcare, and government services.

A key impact will be in fraud prevention and AML compliance, where AI-powered solutions, like FOCAL help businesses detect fraud in real-time, mitigate financial crimes, and ensure regulatory compliance across industries including BFSI, fintech, e-commerce, and telecom, enabling smarter risk management and streamlined compliance processes.

What is exciting here is that Saudi Arabia is actively investing in it, whether through AI research, digital infrastructure, or nurturing local AI talent. The Saudi government has launched initiatives aimed at establishing the country as a major player in artificial intelligence, data analytics, and advanced technologies.

As a result, AI is shaping new business models, improving risk management, and transforming industries in how they operate, innovate, and compete on a global scale.

How are tech products leveraging AI to enhance fraud prevention and compliance for businesses in Saudi Arabia?

The rise of automation and AI is not just fueling growth for good but it’s also being leveraged by fraudsters and criminals to execute highly sophisticated fraud that traditional rule-based systems just can’t keep up with anymore.

For example, we at Mozn are leveraging AI to enable businesses to detect and block emerging fraud patterns before they can cause severe damage. FOCAL Fraud Prevention is designed to protect businesses against evolving fraud threats with unparalleled precision and leverages AI, data science, and device intelligence to proactively detect and mitigate emerging fraud patterns, anomalies, hidden fraud networks, and repeat offenders in real-time without impacting user experience. By prioritizing precision, adaptability, and user-centric design, FOCAL Fraud Prevention Suite secures digital interactions, protects business reputations, and drives trust in an increasingly complex digital landscape.

What are the biggest financial crime risks organisations in Saudi face today, and how do tech solutions help mitigate them?

That’s an interesting question. Right now, the biggest financial crime risks in Saudi Arabia include money laundering and account takeover-related fraud. The challenge here is particularly account takeover-related fraud as once an account is compromised it can be used for a range of crimes including money laundering, terrorism financing, and unauthorised transactions, among others.

Moreover, with the rise of digital banking, compliance with evolving regulatory frameworks is crucial. AI helps organisations stay ahead of compliance requirements while ensuring robust financial crime prevention, allowing them to focus on growth while mitigating risks.

For instance, our AI-powered solutions are revolutionising the way businesses detect, mitigate, and prevent financial crimes. Through AI-powered, real-time transaction monitoring, comprehensive customer onboarding and sanction screening, and end-to-end fraud prevention and management, FOCAL is enabling businesses to focus on their core operations while experts at FOCAL manage their financial crime risk and help them meet regulatory requirements.

With evolving regulatory frameworks in Saudi Arabia, how is Mozn ensuring its tech solutions stay ahead in compliance and risk management?

At Mozn, we enable businesses to not only prevent financial crimes and fraud but also deliver a frictionless compliance experience. We take a proactive approach in ensuring that not just our solutions are up to date but in fact, our clients are following the best practices and implementing the latest regulatory updates to not just meet Saudi’s regulatory requirements but to further follow recommendations from intergovernmental bodies like FATF.

We work closely with regulatory bodies, financial institutions, and compliance leaders to ensure that our solutions meet both local and international compliance standards. The goal is simple — help businesses reduce compliance burdens, mitigate risks, and operate securely in an increasingly regulated environment.

How do you see AI-driven fraud prevention transforming industries such as banking, fintech, and e-commerce in Saudi Arabia?

AI-driven fraud prevention is fundamentally transforming industries like banking, fintech, and e-commerce by shifting from static, rule-based systems to dynamic, adaptive models. For instance, for the banking sector, we at FOCAL leverage advanced machine learning algorithms to analyze vast amounts of device and transactional data in real-time, identifying subtle anomalies that may indicate fraudulent activity including detecting money mules. This not only reduces financial losses but also enhances regulatory compliance and customer trust. For fintech companies, which operate in highly competitive and fast-evolving markets, AI offers the agility to continuously learn from new fraud patterns, significantly cutting down on false positives and streamlining customer onboarding processes.

In the e-commerce space, where the volume of transactions is immense and customer experience is the centre of the business, we leverage AI and device fingerprinting to secure transactions without causing undue friction for genuine customers. The competitive edge lies in AI’s ability to evolve with emerging threats, providing a robust, scalable solution that outperforms traditional methods in both accuracy and efficiency.

Tell us your plans for the year.

This year is set to be a year of bold expansion, relentless innovation, and continuous evolution. We’ve already built a strong presence across the MENA region, and we’re just getting started. Our vision is to expand into new markets, enhance our solutions, and stay ahead of the ever-evolving financial and technological landscape.

As financial threats grow more sophisticated, so must fraud prevention. That’s why we continuously advance our AI-driven solutions, ensuring they become even more adaptive, intelligent, and future-proof. Our goal is to equip businesses with the most cutting-edge tools to operate securely, efficiently, and with confidence in an increasingly complex digital world.

But we don’t believe in standing still. 2025 is all about scaling, innovating, and pushing boundaries — because when it comes to security, compliance, and AI-driven fraud prevention, standing still is never an option.

The airline has announced its financial and operational results for the full year ending December 31, 2024.

The airline reported a record pre-tax net profit of Dhs1.6bn, reflecting a 4 per cent increase compared to Dhs1.5bn in 2023.

Total turnover for the year surpassed Dhs6.63bn, marking an 11 per cent growth from Dhs6bn in 2023. The airline’s robust financial performance underscores its continued success and resilience in the highly competitive aviation sector.

Air Arabia focused on expansion

In 2024, the airline focused on expansion and operational excellence, growing its network across six hubs and adding 31 new routes.

This expansion led to a 13 per cent increase in operational capacity and a 12 per cent rise in total passengers carried, reaching 18.8 million across the group.

The airline also reported a 2 per cent increase in average seat load factor, which reached 82 per cent, highlighting the sustained strong demand for its low-cost services.

Additionally, Air Arabia‘s Board of Directors has proposed a dividend distribution of 25 per cent of share capital, equivalent to 25 fils per share. The proposal, made during a recent board meeting, is subject to approval by Air Arabia’s shareholders at the upcoming Annual General Meeting (AGM).

Sheikh Abdullah bin Mohamed Al Thani, chairman of Air Arabia, commented on the airline’s performance, said 2024 was been a record-breaking year for Air Arabia Group, marked by significant expansion and an increased footprint across all key markets.

“Building on our strong foundation, we have continued to achieve remarkable financial and operational growth, reaffirming the strength of our business model, the resilience of our management team, and the effectiveness of our strategic vision,” he added.

Bolt’s recent launch in Dubai is a significant milestone, especially considering the growing demand for diverse mobility options. From your perspective, what impact has Bolt had on the taxi and ride-hailing market in Dubai so far? How do you view Bolt’s entry within the context of Dubai Taxi Company’s long-standing leadership in the local transport sector?

Bolt’s launch in Dubai, in partnership with Dubai Taxi Company (DTC), aims to create the UAE’s largest e-hailing platform. Bolt’s entry adds a fresh dynamic to the ride-hailing landscape, complementing the demand for innovative e-hailing solutions, enhancing the digital mobility experience and expanding smart transportation services throughout the emirate, in line with Dubai Taxi’s ambitious growth strategy. We are proud to announce that Bolt has achieved 1 million rides since its launch in December 2024.

For DTC, which has played a pivotal role in shaping the city’s mobility infrastructure, Bolt’s launch aligns with the Dubai government’s directives to transition 80 per cent of taxi trips to e-hailing in the coming years and shares a vision of transforming Dubai into a global benchmark for smart urban mobility. While we recognise the disruption that new players bring, DTC remains confident in its legacy of leadership and its ongoing commitment to adapting and evolving within this vibrant ecosystem.

As part of DTC’s 2025-2029 strategy, you’re focused on innovation, growth, and sustainability. With Bolt entering the market, what key strategies will DTC employ to maintain its position as the preferred mobility service in Dubai? How are you balancing the competitive landscape with your vision for a customer-centric, tech-enabled future?

DTC’s 2025–2029 strategy focuses on innovation, growth, and sustainability to maintain its position as the preferred mobility choice for everyone, prioritising the enhancement of our digital ecosystem, leveraging data-driven insights, and delivering seamless customer-centric experiences from our core offerings.

To maintain our market leadership, we are investing in advanced technologies like AI-powered dispatch systems, predictive analytics for demand management, and robust digital payment solutions. Additionally, we are fostering strategic partnerships with tech providers to co-develop solutions that meet the evolving needs of Dubai’s residents and visitors. By balancing competition with collaboration, we aim to stay ahead while fostering a cohesive and innovative transport ecosystem.

Sustainability is a central theme in both DTC’s strategy and Dubai’s broader mobility goals. Can you provide more insights on DTC’s plans to integrate electric and hybrid vehicles into your fleet? How do you see EV adoption shaping the future of Dubai’s mobility ecosystem, and how does this align with the UAE’s broader sustainability ambitions?

DTC’s commitment to sustainable mobility is evident through its adoption of eco-friendly vehicles, smart technologies, partnerships, and alignment with Dubai’s environmental goals. These efforts contribute not only to a reduction in carbon emissions but also to a greener, more efficient, and sustainable future for urban transport.

Currently above 85 per cent of its fleet is environmentally friendly (hybrid and electric). Road and Transport Authority (RTA), Dubai’s target is to reach 100 per cent by 2027, which we expect to reach well ahead of that. The move meets the requirements of the Dubai Supreme Council of Energy, the Green Economy drive, and the Dubai Government’s strategic directions toward comprehensive environmental sustainability.

We are collaborating with various leading EV manufacturers and with charging infrastructure providers like DEWA to ensure this transition is seamless and impactful. EV adoption is integral to reducing Dubai’s carbon footprint, and it aligns with the UAE’s Net Zero by 2050 strategic initiative. We believe the shift to EVs will not only drive environmental benefits but also enhance operational efficiency, and decrease maintenance costs, as well as noise levels. By positioning sustainability at the core of our operations, DTC is paving the way for a greener and more resilient mobility future.

DTC has strategically partnered with various organisations, including Bolt, to advance its digital transformation. What role do partnerships play in DTC’s strategy moving forward, and what types of collaborations are you particularly focusing on to drive innovation in the mobility space?

Strategic partnerships are fundamental to DTC’s vision. Collaborations with ride-hailing platforms like Bolt, help DTC unlock a greater share of the Dhs6bn market opportunity presented by Dubai’s taxi and e-hailing sector.

The partnership allows DTC to utilise infrastructure and technology created by Bolt which will improve DTC’s operational capabilities by incorporating the most recent digital vehicle booking technologies into DTC’s ecosystem thus reducing the need to use a private car which will have a positive impact on the emirate and the residents.

Furthermore, DTC will benefit from Bolt’s global footprint which will allow it to tap into a worldwide customer base. DTC is actively expanding its services both within Dubai and across the region.

Partnerships with local and international companies specialising in smart and sustainable transportation help DTC enhance its technological capabilities, broaden its service offerings, have access to new markets, and adapt to new market trends, ultimately positioning itself as a leading innovator in the transportation industry.

We have also partnered with leading food and e-commerce aggregators like Talabat UAE to provide our last-mile delivery services. This is another example of how such partnerships allow us to expand our services efficiently into neighbouring emirates.

Moving forward, we are particularly focusing on partnerships that drive innovation in areas such as AI technology, EV infrastructure, and customer experience design. By fostering a culture of co-creation, we aim to accelerate the adoption of next-gen mobility solutions.

Autonomous vehicles (AVs) are widely regarded as the next frontier in urban transportation. Where do you see DTC’s role in the adoption and integration of AVs into Dubai’s transport network? What challenges and opportunities do you foresee in this transition, particularly concerning public trust, regulation, and infrastructure readiness?

According to Dubai Autonomous Strategy, 25 per cent of all transportation trips to be autonomous by 2030. Dubai Taxi Company is working closely with RTA to achieve this goal as the strategy includes integrating self-driving vehicles across various transport modes, including taxis, and limousine vehicles.

Challenges such as public trust, stringent safety regulations, and infrastructure upgrades are critical, but they also present opportunities for us to innovate and lead.

Focus on the right policy, and operating model backed by education, and rigorous testing, we aim to build confidence in AVs while contributing to a smarter, safer, and more efficient transport ecosystem that will present us with new opportunities to expand our investment within the mobility and transport sector.

As you look ahead, what is DTC’s overarching vision for 2030 and beyond? How do you plan to continue leading Dubai’s mobility evolution while aligning with the government’s vision for a smart, sustainable, and connected future?

Due to its strategic location, favourable lifestyle, and ease of doing business, Dubai has today become a top choice for travellers and investors.

The population is expected to reach 5.8 million by 2040. This will create a need for a robust and smart public transport infrastructure.

We aim to align with Dubai’s ambitions of becoming the world’s smartest city by integrating cutting-edge technologies, enhancing multimodal connectivity, and reducing environmental impact.

Our focus will remain on delivering seamless, customer-centric mobility experiences while driving the adoption of autonomous, electric, and shared transport solutions.

Through proactive collaboration with stakeholders, an unwavering dedication to innovation, and the adoption of cutting-edge technology DTC is always on the lookout for opportunities, thus committing to shaping the future of mobility
in Dubai.

Billionaire Elon Musk said on Thursday many federal government agencies must be eliminated as part of President Donald Trump’s push to radically overhaul the US government.

“We do need to delete entire agencies, as opposed to leave part of them behind. Just leave part of them behind. It’s easy. It’s kind of like leaving a weed,” Musk said in a video call addressing the World Governments Summit in Dubai.

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“If you don’t remove the roots of the weed, then it’s easy for the weed to grow back. But if you remove the roots of the weed, it doesn’t stop weeds from ever going back, but it makes it harder.

“So we have to really delete entire agencies, many of them.”

The comments came as Musk this week has had to defend his role as an unelected official who has been granted unprecedented authority by the Republican president to dismantle parts of the US government.

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Since Trump took office on January 20, Musk has dispatched members of his Department of Government Efficiency (DOGE) to scrutinize sensitive personnel and payment information in government computer systems. Musk has led a successful drive to dismantle two agencies – one that provides a lifeline to the world’s needy, USAID, and another that protects Americans from unscrupulous lenders, the Consumer Financial Protection Bureau.

Musk, the world’s richest man, has disparaged civil servants as bureaucrats who are not elected and not held accountable to American taxpayers.

“We really have here rule of the bureaucracy, as opposed to rule of the people democracy. We want to restore rule of the people. And so what that means is reducing the size of the federal government, basically reducing regulation,” Musk told the Dubai audience.

Trump has said Musk, the CEO of Spacex and Tesla who also owns X social media platform, will excuse himself from any conflicts of interest between his various business interests and his efforts to cut costs for the federal government

Undoubtedly DeepSeek is introducing a new era for AI, highlighting that different paths might be followed in implementing effective AI infrastructure and optimise the related costs.

DeepSeek, with its R1 model, diverges significantly from traditional AI structures like those powered by NVIDIA, both in terms of operational architecture and resource efficiency.

Here are the main structural differences:

Mixture of experts (MoE) architecture: DeepSeek R1 uses an MoE approach, allowing for selective parameter activation (only 37 billion out of 671 billion) based on the task at hand. This contrasts with NVIDIA’s models like o1, which often rely on a fully engaged network for every query, leading to higher computational demands.

Dynamic inference: DeepSeek R1’s model can scale its computational effort according to the complexity of the problem, enhancing efficiency for both simple and complex tasks. NVIDIA’s models typically operate at full capacity regardless of task complexity, which can be resource-intensive.

Mixed precision computing: DeepSeek R1 employs a strategy where it uses both 8-bit and 32-bit precision, enabling faster processing with minimal accuracy loss. This is less common in traditional models, which might stick to higher precision across all operations, thus consuming more resources.

DeepSeek versus other models: Resource utilisation efficiencies

The new structure leads to considerable resource utilisation efficiencies, including:

• GPU optimisation: DeepSeek R1 was developed using fewer, less powerful GPUs, making it more accessible for firms with constrained resources. NVIDIA’s solutions often require high-end GPUs in large quantities, escalating costs. Reports indicate that DeepSeek’s R1 model was developed using approximately 2,000 Nvidia H800 GPUs, significantly fewer than the tens of thousands typically employed by competitors, resulting in considerable cost savings. That leads to the fact that AI models can be developed using GPUs that must not be necessarily sourced from the latest state-of-the-art Nvidia products.
• Lower operational costs: The efficiency of DeepSeek R1 means financial institutions can deploy AI at scale with significantly reduced costs, a key consideration in an industry where margins are often tight.

Cost-benefit analysis for financial institutions

The financial sector stands to gain significantly from AI models that deliver robust performance without incurring prohibitive costs.

DeepSeek‘s R1 model exemplifies this balance by offering high-level capabilities at a fraction of the traditional expense. The company has demonstrated that its AI models can be developed with less advanced hardware, resulting in considerable cost savings. DeepSeek R1’s development cost was around $5.58m, a fraction compared to the billions required for NVIDIA’s top-tier models. This cost efficiency can be a game-changer for financial firms looking to implement AI without prohibitive expenses.

Furthermore, the model’s architecture allows for scaling AI operations without a linear increase in cost, enabling firms to handle increased volumes of data analysis or decision-making during peak market times.

For financial institutions, this translates to the ability to implement advanced AI-driven analytics and decision-making tools without the need for extensive capital investment in infrastructure. The reduced energy consumption further contributes to operational savings and aligns with growing environmental, social, and governance (ESG) considerations.

However, it’s essential to recognise that while DeepSeek’s models offer cost advantages, they may not yet match the performance of NVIDIA-powered solutions in all scenarios. NVIDIA’s hardware and software ecosystems are deeply entrenched in the AI industry, providing optimised performance for a wide range of applications. Financial institutions must carefully assess their specific needs, evaluating whether the cost savings with DeepSeek’s models justify any potential trade-offs in performance or compatibility.

Risks of AI dependency in financial institutions

Despite the allure of advanced AI models, financial institutions must exercise caution to avoid overdependence. An overreliance on AI can lead to several risks:

• Systemic risk: Over-reliance on AI, even with models like DeepSeek R1, can introduce systemic risks. If AI systems fail or are manipulated, the consequences could ripple through financial markets, an issue I’ve often highlighted in discussions on financial stability.
• Model risk: All AI models, including DeepSeek, operate as “black boxes”, making it challenging to interpret decision-making processes and are susceptible to manipulation or ‘jailbreaking’. There’s a particular risk with DeepSeek R1 due to its open-source nature, where malicious actors could exploit known vulnerabilities or manipulate input to skew outputs, leading to flawed financial decisions or security breaches.
• Manipulation of outputs: Deep manipulation of AI outputs is a universal concern, but with DeepSeek R1, this risk is heightened due to its broad accessibility. In finance, where decisions can move millions, ensuring the integrity of AI outputs is paramount. The potential for adversaries to craft inputs that lead to desired but incorrect outputs (like in adversarial attacks) poses a significant threat.
• Data quality and bias: AI systems are only as effective as the data they are trained on. Poor-quality or biased data can result in inaccurate predictions or reinforce existing biases, leading to flawed decision-making. While the R1 model has shown a great advantage in training costs, the quality of such analysis is still linked to the quality and depth of data it is fed with.
• Regulatory and ethical compliance: As AI becomes more integrated into financial decision-making, regulatory eyes sharpen. The open-source aspect of DeepSeek could complicate compliance with data privacy laws and ethical AI use policies.
• Operational continuity: An over-dependence on AI could disrupt operations if systems go down or if the AI’s decision-making is compromised. Financial institutions need robust backup systems and human oversight to mitigate this.
• Human oversight reduction: There’s a risk that the reliance on AI might diminish the role of human judgement, which is crucial for ethical decision-making and nuanced risk assessment, areas where AI can be lacking.

In conclusion, while DeepSeek R1 offers compelling advantages in terms of cost and efficiency, the integration into financial services must be tempered with caution. The benefits of optimised AI-driven analytics are clear, but the risks, particularly around manipulation and dependency, require vigilant risk management.

A hybrid model where AI supports but does not replace human expertise seems to be preferable, especially in the complex world of finance where every decision carries weight. Ensuring AI models are part of a broader, secure, and ethical framework is essential to harnessing their power responsibly.

The writer is the CEO of Axiory Global.

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