Saudi Arabia’s financial sector is undergoing significant transformation, with wealth management becoming an essential part of the Kingdom’s economic diversification strategy.

To support this shift, Jeel, powered by Riyadh Bank, has signed a MoU with Switzerland-based Synpulse to co-develop a new wealth management platform tailored for Saudi Arabia.

The platform will be built on open APIs to enable integration with both local and international wealthtech ecosystems, including custody banks, digital asset providers, and private market platforms.

Synpulse will contribute its Swiss wealth management expertise and global best practices, while Jeel will leverage its established ecosystem developed in partnership with Fintech Saudi.

The project will begin in the Jeel Sandbox, Saudi Arabia’s financial innovation hub, before expanding into full-scale Banking-as-a-Service and Wealth-as-a-Service offerings.

“Partnering with Synpulse marks a pivotal step towards redefining wealth management in Saudi Arabia,”

said George Harrak, CEO of Jeel.

“This collaboration enables us to harness technology and expertise to reshape the wealth management experience in the Kingdom. Through the Jeel Sandbox, we are paving the way for Banking-as-a-Service and Wealth-as-a-Service solutions that align with Vision 2030’s goal of a thriving, diversified financial sector.”

“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 market insight, we aim to deliver a platform that reflects the Kingdom’s broader transformation.”

Featured image credit: Jeel