Riyad Bank launches Jeel as first specialized digital innovation and development arm in Saudi banking sector

Logos of Riyad Bank and Jeel

Riyad Bank, in a qualitative leap on the road to achieving its digital transformation strategy, announced the launch of the Jeel Innovation Digital Limited Company "Jeel" to be as the bank's specialized arm in the field of digital innovation and development, also to launch a new dimension for the digital financial industry, and localize it according to an institutional concept with integrated capabilities.

“Jeel” is one of the main outcomes of the digital transformation strategy which Riyad Bank has adopted in 2019 to set the ground for the bank to be the most efficient, most innovative, most profitable, and bank of choice by 2025.

The Chairman of Jeel and CEO of Riyad bank, Mr. Tariq Al-Sadhan said that “Jeel” started as an ambitious idea that swiftly turned into a reality. “This innovative company will introduce a quantum leap in the world of digital banking”, Al-Sadhan also expressed “It will reflect our commitment and passion for innovation which will translate digital transformation strategies.”

pointing out that Jeel is a living testimony to the bank's commitment to becoming a leader in the financial industry and the impact this new entity will have in driving the path toward becoming the bank of choice in the Kingdom.

Riyad Bank is considered one of the leading, most developed and competitive banks in the field of digital transformation in the financial sector, based on a series of successive initiatives launched by the bank to enhance its active role in shaping the future of the banking industry in the Kingdom and the region. The latest of which is the launch of Jeel, which is driven by creative Saudi youth with entrepreneurial innovative skills, and enhanced by the most advanced capabilities.

At the same time, Riyad Bank is looking forward to "Jeel" being an inspiring source of digital innovations, also to adopt the best professional practices in the field of emerging and flexible digital business, within a creative work environment.

Jeel goes beyond traditional banking, it operates as an incubator and accelerator to pioneer digital innovations in financial services, such as BaaS, open banking, and digital payments.

Jeel also aims to enhance the Kingdom's digital public ecosystem across various sectors by integrating financial services in an innovative, secure and easy manner, making those services smoother and more integrated.