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- Collaboration supports Saudi Arabia's financial security and aligns with Vision 2030’s digital transformation goals.
- Executives from both companies emphasise the partnership's role in enhancing financial resilience and innovation.
Riyadh, Saudi Arabia: Jeel, the digital innovation arm of Riyad Bank, has signed a Memorandum of Understanding (MoU) with Eastnets, a leading global provider of anti-financial crime solutions. This collaboration enhances Jeel's cloud platform with Eastnets' advanced financial crime protection solutions, further supporting the security and reliability of Saudi Arabia's financial sector.
The partnership aligns with Saudi Arabia’s broader digital transformation efforts under Vision 2030, emphasising technological progress and strengthening the country’s financial infrastructure. Leveraging Eastnets' expertise, the agreement reflects a shared commitment to further strengthening the region's financial resilience and tackling emerging threats.
At the signing ceremony held at Jeel’s Riyadh headquarters, both companies expressed enthusiasm for the collaboration’s potential impact. Jeel’s CEO, Amer Rajkhan, highlighted the importance of the partnership: “This Memorandum of Understanding marks a significant milestone in our mission to revolutionize our open platform. By partnering with [Eastnets], we're strategically expanding our digital platform with cutting-edge anti-fraud capabilities. This collaboration aligns perfectly with our unwavering commitment to delivering secure, innovative solutions that exceed industry benchmarks and ensure the utmost protection for our customers.”
Mohammed AlAwami, Eastnets’ Country Director, shared a similar sentiment, adding, “We are pleased to collaborate with Jeel on this important initiative. By combining our expertise, we can ensure Saudi Arabia’s financial services sector continues to remain resilient against the growing global threat of financial crime, supporting the region’s long-term security and growth.”
The MoU marks the start of a close collaboration between Jeel and Eastnets, aimed at seamlessly integrating Eastnets' solutions into Jeel’s open platform.
Together, Jeel and Eastnets are well-positioned to deliver security solutions tailored to the specific needs of the Kingdom’s financial services sector.
About Eastnets
Eastnets is a global provider of compliance and payment solutions for the financial services sector. Through our experience, expertise and technology, we enable safe and secure participation in the global financial economy for over 800 financial institutions globally, including 15 of the top 50 banks and 22 of the world’s Central Banks. For more than 40 years, we’ve worked to keep the world safe and secure from financial crime. We do this by helping our partners manage risk through Sanction Screening, Transaction Monitoring, analysis, and reporting, plus industry-leading consultancy and customer support.
Further information:
info@eastnets.com
About Jeel
As the digital innovation arm of Riyad Bank, Jeel is dedicated to pioneering technological advancements and delivering cutting-edge solutions that shape the future of technology. With a focus on enhancing the digital experience for its customers, Jeel is at the forefront of cloud-based innovation in the financial industry.
Further information: jeel.information@jeel.net
Media Contacts:
pagarwal@hanovercomms.com, +971 52 787 3189
lcoleenmagahis@hanovercomms.com, +971 52 974 8590
