Saudi Arabia’s financial landscape is undergoing a profound transformation, with wealth management emerging as a key pillar of economic diversification and innovation. In a strategic move to support this evolution, a new collaboration has been set up to co-create a next-generation wealth platform tailored for the Kingdom.
Jeel, powered by Riyadh Bank, has entered into a strategic Memorandum of Understanding with Synpulse to co-develop a cutting-edge platform built on open APIs tailored for the Kingdom of the Saudi Arabia. This collaboration places Jeel at the forefront of Saudi Arabia’s financial transformation, with Synpulse bringing Swiss Wealth Management expertise and global best practices to accelerate innovation. The platform built on open APIs will seamlessly integrate with both local and international WealthTech ecosystems, including custody banks, digital asset providers, and private markets platforms.
The new Wealth platform will take shape in the Jeel Sandbox – Saudi Arabia’s launchpad for innovation – before evolving into full scale Banking as a Service and Wealth as a Service offerings. By uniting Synpulse’s Swiss expertise with Jeel’s ready ecosystem (developed in partnership with Fintech Saudi), this collaboration delivers a powerful, future proof foundation for the Kingdoms growing wealth sector.
“Partnering with Synpulse marks a pivotal step towards redefining wealth management in Saudi Arabia,” said George Harrak, CEOfrom Jeel. “This collaboration enables us to harness cutting-edge technology and global expertise to reshape the wealth management experience in Saudi Arabia. Together, we’re not just building a platform, through the Jeel Sandbox, we are paving the way for Banking as a Service and Wealth as a Service solution – which will lay the foundation for a new era of financial empowerment. This aligns directly with the goals of Vision 2030, which calls for a thriving financial sector that supports economic diversification, fosters innovation, and expands access to sophisticated financial services across the Kingdom.”
“This collaboration goes beyond technical integration – it’s about unlocking the full potential of wealth in Saudi Arabia,” said Yves Roesti, CEO and Managing Partner of Synpulse. “By combining Swiss wealth management excellence with Jeel’s deep market insight, we’re proud to be early movers in a region that’s rapidly embracing global standards and innovation. Our shared vision is to deliver a platform that’s as forward-thinking as the Kingdom’s transformation itself.”
Rahul Bansal, Partner and Location Head at Synpulse United Arab Emirates, stated: “This development enhances our current momentum in the region. Following the opening of our Dubai office in 2023, our expanded leadership presence further demonstrates our commitment to maintaining a strong local presence and supporting our clients—driving regional innovation from within.”
