Riyadh – Sharikat Mubasher: 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, as per a joint press release.
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.
Amer Rajkhan, CEO of Jeel 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.