Jeel and Mambu team up to drive Saudi fintech innovation
Riyad Bank’s technology unit signed an agreement with a German software provider to build a digital testing platform for Saudi financial startups. Jeel will use Mambu’s banking system to operate a sandbox where companies can trial payment services before entering the market. The infrastructure runs on Google’s cloud network and meets the Saudi Arabian Monetary Authority’s standards for data protection.
The sandbox offers developers access to payment tools and wallet functions as they prepare commercial applications. Jeel expects to accept its first participants later in 2025 as part of the government’s plan to expand the kingdom’s financial technology sector. The program aims to reduce development time for new services by providing a secure environment that meets regulatory requirements.
