In a significant move to advance Saudi Arabia’s financial sector, Jeel, an innovation ecosystem powered by Riyadh Bank, has signed a Memorandum of Understanding (MoU) with the Swiss management consultancy Synpulse. The partnership aims to co-develop a next-generation wealth management platform specifically tailored for the Kingdom, aligning with the diversification goals of Vision 2030.
A Strategic Partnership for Vision 2030
The collaboration is set against the backdrop of Saudi Arabia’s profound economic transformation, where wealth management has become a key pillar for innovation and growth. The new platform is designed to reshape the wealth management experience in the Kingdom by harnessing cutting-edge technology and global best practices. George Harrak, CEO of Jeel, stated that the initiative paves the way for Banking-as-a-Service (BaaS) and Wealth-as-a-Service (WaaS) solutions, fostering a thriving financial sector that supports economic diversification and expands access to sophisticated financial services.
Open APIs and Ecosystem Integration
A core feature of the new platform will be its construction on open APIs, enabling seamless integration with both local and international wealthtech ecosystems. This open architecture will allow for connections with a wide range of services, including custody banks, digital asset providers, and private market platforms. This approach ensures a powerful and future-proof foundation for the Kingdom’s rapidly growing wealth sector.
Leveraging Swiss Expertise in the Jeel Sandbox
The project will initially take shape within the Jeel Sandbox, Saudi Arabia’s launchpad for financial innovation, before expanding into full-scale BaaS and WaaS offerings. Synpulse will contribute its renowned Swiss wealth management expertise and global best practices to the venture. Meanwhile, Jeel will leverage its established ecosystem, which has been developed in partnership with Fintech Saudi. Yves Roesti, CEO and Managing Partner of Synpulse, noted that by combining Swiss excellence with Jeel’s deep market insight, the partnership aims to deliver a platform as forward-thinking as the Kingdom’s own transformation.
About Jeel
Jeel is a technology ecosystem provider and accelerator reshaping the financial industry through innovative, compliant, and customer-centric solutions. With a unique model that blends local context with global expertise, Jeel empowers banks, fintechs, and businesses to embrace digital transformation with speed and confidence. From rapid prototyping to market-ready solutions, Jeel transforms ideas into real-world impact.
About Synpulse
Synpulse is a global management consultancy and a trusted partner to financial institutions. It delivers end-to-end transformation, combining deep industry expertise with technology across strategy, design, implementation, and operations. With a network of over 100 ecosystem partners and its technology division Synpulse8, the firm co-creates innovative digital solutions that deliver value-creating impact.
Source: Fintech News AE
