Jeel, the tech subsidiary of Riyad Bank, has teamed up with Mambu, the cloud-native core banking platform, to enhance the ecosystem powered by the recently launched Jeel Sandbox, Saudi Arabia’s fintech sandbox accelerator – developed by Jeel in collaboration with Fintech Saudi. The Jeel Sandbox serves as a key part of Saudi Arabia’s fintech roadmap — enabling startups, FIs to test, validate and deploy digital financial solutions.
It bridges the gap between ideation and real-world deployment, effectively reducing time to market.
Powered by Mambu’s composable banking architecture and hosted on Google Cloud Platform (GCP) in alignment with SAMA’s cloud regulations, Jeel sandbox brings together agility with proper security.
It provides progressive journey from mock APIs and Wallet as a Service (WaaS) capabilities towards “a full Banking as a Service (BaaS) platform, laying the foundation for a unified ecosystem where fintechs can build, test and scale their solutions.”
This collab sets the stage for onboarding fintechs into Jeel’s sandbox, with the initial pilot cohort expected later this year. As the platform grows, it will support testing, regulatory readiness, and commercial deployment via Jeel’s Banking as a Service.
Jeel is a technology ecosystem provider reshaping the financial industry through customer-centric solutions. With a model that blends local context with global expertise, Jeel says that it enables banks, fintechs, and businesses to embrace digital transformation.
As covered, Mambu is the SaaS cloud banking platform that was founded in 2011, it enables banks, lenders, credit unions, fintechs, retailers and other organisations to launch various financial products.
Their approach allows independent components, systems and connectors to be assembled in any configuration to meet business objectives.
The platform supports core banking, deposits, lending, payments and Islamic banking. Mambu offers a “modular, future-ready and scalable product that grows with businesses.”
Whether launching a single product or transforming a banking stack, Mambu claims it provides the solutions required to excel in the financial industry.
Mambu clients include Western Union, Commonwealth Bank of Australia, N26, BancoEstado, Raiffeisen Bank, ABN AMRO and Bank Islam.