Jeel
“Can Jeel become Saudi Arabia's dominant BaaS and embedded finance infrastructure layer by leveraging Riyad Bank's regulatory standing and partnering with global technology providers to help fintechs and NBFIs launch compliant digital financial products at speed?”
Jeel was launched in 2023 as Riyad Bank's innovation and technology subsidiary with a dual mandate: operate Jeel Pay (a BNPL/installment platform for education) and build BaaS/embedded finance infrastructure for the Saudi market. The company quickly expanded beyond its BNPL roots to become a platform provider — partnering with Mambu for cloud-native core banking, Mastercard for Card-as-a-Service, and Audax for open banking — positioning itself as the infrastructure layer enabling fintechs and NBFIs to launch regulated digital financial products in Saudi Arabia under Vision 2030.