PRESS RELEASE
Jeel and Mambu join forces to power Saudi Arabia’s fintech sandbox and pave the way for Banking as a Service (BaaS)
October 27, 2025
Riyadh, Saudi Arabia: 27 October 2025: Jeel, the innovation and technology subsidiary of Riyad Bank, has partnered with Mambu, the global cloud-native core banking platform, to enhance the unified ecosystem powered by the recently launched Jeel Sandbox, Saudi Arabia’s pioneering fintech sandbox accelerator – developed by Jeel in collaboration with Fintech Saudi.
The Jeel Sandbox serves as a cornerstone of Saudi Arabia’s fintech roadmap — empowering startups, financial institutions, and innovators to test, validate and deploy digital financial solutions efficiently in a secure and scalable environment. It bridges the gap between ideation and real-world deployment, reducing time to market and accelerating innovation across the Kingdom's evolving financial ecosystem.
Powered by Mambu’s composable banking architecture and hosted on Google Cloud Platform (GCP) in full alignment with SAMA’s cloud regulations, Jeel sandbox combines agility with regulatory-grade 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 seamlessly.
“Our collaboration with Mambu strengthens Jeel’s role in driving innovation and enabling fintech leadership in Saudi Arabia. Through the Jeel Sandbox, we are laying the foundation for scalable Banking as a Service – giving fintechs, innovators and institutions the confidence to innovate, comply, and grow within a secure, future-ready environment fully aligned with Vision 2030. ”
- George Harrak, Chief Executive Officer of Jeel
This partnership sets the stage for onboarding fintechs into Jeel’s sandbox, with the first pilot cohort expected later this year. As the platform grows, it will support advanced testing, regulatory readiness, and commercial deployment through Jeel’s Banking as a Service, positioning Saudi Arabia as the regional fintech launchpad.
“This is a pivotal moment for Mambu as we continue to increase our presence in the Kingdom of Saudi Arabia. Supporting Vision 2030 through our technology developments and partnerships with leaders in the area demonstrates how committed Mambu is to furthering the goals of the region. We look forward to working with Jeel to support financial institutions in the initial stages of growth.”
- Harjit Kang, Regional Lead, Middle East at Mambu
About JEEL
Jeel is a technology ecosystem provider and accelerator reshaping the financial industry through innovative, compliant, and customer-centric solutions. With a unique model that blends local context with global expertise, Jeel empowers banks, fintechs, and businesses to embrace digital transformation with speed and confidence. From rapid prototyping to market-ready solutions, Jeel transforms ideas into real-world impact.
For more information, please visit www.jeel.net.
About Mambu
Mambu is the world’s only true SaaS cloud banking platform. Founded in 2011, it enables banks, lenders, credit unions, fintechs, retailers and other organisations to design and launch modern financial products with speed and flexibility. Our unique, composable approach allows independent components, systems and connectors to be assembled in any configuration to meet business goals and customer needs. 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 an entire banking stack, Mambu provides the agility and reliability needed to succeed in today’s financial landscape. More than 260 customers in over 65 countries rely on Mambu, including Western Union, Commonwealth Bank of Australia, N26, BancoEstado, Raiffeisen Bank, ABN AMRO and Bank Islam.
© Mambu 2026