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Ryalize, a fintech platform based in Singapore with offices in Bahrain, has announced the appointment of Bahraini businessman and serial entrepreneur Suhail Algosaibi, as its chairman. The platform offers financial institutions a suite of services to better serve their corporate clients, including an Earned Wage Access solution that allows employees access to their earned, but unpaid salary before payday. This means that employees can choose to be paid more frequently during the month, reducing their financial stress and resulting in an overall increase in employee commitment and loyalty towards their employers.
The appointment builds on the company’s momentum after the recent signing of an exclusive MOU between Ryalize and Khaleeji Commercial Bank to make its services available to the bank’s corporate clients in Bahrain.
Suhail Algosaibi commented, “I am delighted to have been asked to chair the board of Ryalize, which I consider to be an innovative and revolutionary Fintech run by dynamic founders. I am excited to be leading the company into the future and helping it expand in the GCC and MENA region. I believe that within a few short years Ryalize will become a partner of choice for financial institutions that will positively impact millions of people’s lives.”
Elaborating on the appointment, Ryalize Co-Founder and CEO Khalid Alshakrani said, “As one of the first such service providers of its kind in the GCC and MENA region, Ryalize aims to helps banks become more agile, relevant, and competitive in a rapidly evolving financial landscape. The success of our MOU with Khaleeji Commercial Bank demonstrates what can be achieved with the right partners in place and opens the door for more banking partnerships, which will be announced soon. We look forward to meeting with strategic partners who can help to cement Ryalize’s success.”
He added, “Suhail is a man who needs no introduction in business circles in the region. With his expertise in driving business growth and his unwavering commitment to bettering the lives of ambitious young people, his heading our Board is a major addition to the company’s capabilities and market standing. I am confident that he will steer the company’s expansion plans in the right direction.”
Khalid is a former banker with over 20 years of experience, which has helped Ryalize identify this crucial gap in the market. Ryalize supports banks by delivering solutions that are unique, innovative, and can be rapidly customizable. Ryalize is set to expand further in the MENA region, where clients have been receptive to their fintech business model.