Riyadh, Saudi Arabia – Jeel, the digital innovation arm of Riyad Bank, has announced a landmark collaboration with Eastnets, a global leader in anti-financial crime solutions. The two organizations have signed a Memorandum of Understanding (MoU) aimed at enhancing Jeel’s cloud platform with Eastnets’ advanced financial crime protection capabilities, marking a pivotal step in securing Saudi Arabia’s financial sector.
This partnership is in alignment with Saudi Arabia’s Vision 2030, which emphasizes digital transformation, technological advancement, and the strengthening of the country’s financial infrastructure. By integrating Eastnets’ expertise in compliance and payment solutions, Jeel aims to further safeguard the Kingdom’s financial services from emerging global threats.
The signing ceremony took place at Jeel’s headquarters in Riyadh, where senior representatives from both companies expressed optimism about the collaboration’s potential. Amer Rajkhan, CEO of Jeel, emphasized the strategic importance of the MoU:
“This agreement marks a significant milestone in our mission to revolutionize Jeel’s open platform. By partnering with Eastnets, we are expanding our digital ecosystem with cutting-edge anti-fraud capabilities, ensuring that our solutions not only meet but exceed industry standards in security and innovation.”
Mohammed AlAwami, Country Director at Eastnets, echoed these sentiments, stating:
“We are proud to collaborate with Jeel on this critical initiative. By combining our expertise, we can ensure that Saudi Arabia’s financial services sector remains resilient against the evolving global threat of financial crime, bolstering both the security and growth of the region.”
The collaboration will see Eastnets’ comprehensive financial crime protection solutions, including sanction screening and transaction monitoring, seamlessly integrated into Jeel’s cloud platform. This partnership is set to deliver enhanced security measures tailored to the specific needs of the Kingdom’s financial sector.
About Eastnets
Eastnets is a global leader in compliance and payment solutions for the financial services industry, serving over 800 institutions worldwide, including 15 of the top 50 banks and 22 central banks. For over 40 years, Eastnets has been a trusted partner in the fight against financial crime, offering advanced technologies for risk management, transaction monitoring, and industry-leading consultancy services.
About Jeel
Jeel is the digital innovation division of Riyad Bank, committed to driving technological advancements and delivering innovative, cloud-based solutions in the financial industry. Focused on enhancing the digital customer experience, Jeel is at the forefront of technological transformation in Saudi Arabia.
