Riyadh – Shaikat Mubasher: Jeel, powered by Riyad Bank, announced signing a Memorandum of Understanding (MoU) with Swiss consultancy Synpulse to co-develop a next-generation wealth platform tailored for Saudi Arabia.

Built on open APIs, the new platform will seamlessly integrate with both local and international WealthTech ecosystems—including custody banks, digital asset providers, and private markets platforms, as per a recent press release.

 The initiative positions Jeel at the forefront of Saudi Arabia’s financial innovation drive, while Synpulse contributes Swiss expertise and global best practices in wealth management.

The project will initially take shape within the Jeel Sandbox, the Kingdom’s innovation hub, before expanding into full Banking-as-a-Service (BaaS) and Wealth-as-a-Service (WaaS) solutions. By combining Jeel’s ecosystem, developed in collaboration with Fintech Saudi, and Synpulse’s international experience, the partnership aims to build a strong foundation for the Kingdom’s growing wealth sector.

George Harrak, CEO of Jeel, said the collaboration marks a “pivotal step towards redefining wealth management in Saudi Arabia,” emphasizing that it aligns with Vision 2030’s objectives of fostering a thriving, innovative financial sector.

Yves Roesti, Synpulse CEO, described the partnership as “more than a technical integration,” highlighting its potential to unlock the full value of Saudi wealth through innovation and global standards. Rahul Bansal, Partner and Location Head at Synpulse UAE, added that the project reflects Synpulse’s growing regional presence and ongoing commitment to driving financial innovation from within the Gulf.