Banking News – Kathmandu: Soult Digital, an India-launched digital platform designed to help users securely preserve personal memories, financial information, assets and important documents for future access by their loved ones, is preparing for expansion into the Gulf Cooperation Council (GCC) region and other international markets, according to its founder, Mohammed Saleem.

Speaking in an interview with Banking News, Mohammed Saleem discussed his entrepreneurial journey, the concept behind Soult Digital, the platform’s security architecture, its approach to digital inheritance and the company’s plans to expand globally.

From Corporate Career to Entrepreneurship

Mohammed Saleem said his entrepreneurial journey began around 10 to 11 years ago after spending more than a decade in employment. Although he had a well-paid position and was managing a large office with more than 100 employees, he eventually felt that continuing in the same job was no longer fulfilling. His decision to leave employment, he said, was driven more by passion and the desire to build something different than by financial considerations. After resigning, Mohammed Saleem took a two- to three-month break, including a 10- to 12-day trip to Bhutan, before beginning his entrepreneurial journey. He subsequently co-founded Trescon, an events company that has expanded internationally and now operates across multiple countries, working with governments and employing more than 200 people, according to Mohammed Saleem. He later diversified into several areas, including artificial intelligence, energy and event technology. He also established FIA Ventures as a venture capital arm focused on early-stage startups, providing funding, strategic go-to-market support and business connections. Mohammed Saleem said entrepreneurship has involved both opportunities and significant challenges, including the COVID-19 pandemic and geopolitical disruptions. However, he said he has never regretted leaving his previous career.

The Idea Behind Soult Digital

Explaining the origins of Soult Digital, Mohammed Saleem said the idea emerged from the difficulties families faced in preserving and accessing important information, particularly after the loss of loved ones. He described Soult as a “life vault” designed to preserve not only financial information and assets but also memories, emotions, personal records and important documents. The platform is intended to provide users with a single place where they can preserve information that they may eventually want to pass on to their families. According to Mohammed Saleem, users can record memories, maintain journals, preserve family stories, store personal messages and document life experiences. For example, a parent could preserve family recipes, while a father could record life lessons, personal experiences or messages for children and grandchildren. The platform is designed around three core functions: preserving information, protecting it and passing it on when the appropriate time comes.

Financial Information and Assets

Soult Digital is also designed to allow users to organize information about their financial and physical assets. According to Mohammed Saleem, users can store details relating to properties, insurance policies, bank accounts, investments and other assets. The platform can also be used to organize KYC documents and other important records, including passports, Aadhaar cards, birth certificates, employee identification documents and medical insurance information. Users can also record information related to banking, cryptocurrency and stock accounts, as well as other financial assets. The founder said the objective is to eliminate the need for families to search through multiple applications, devices and physical records to locate important information after an emergency or the death of a family member.

Addressing the Problem of Unclaimed Funds

One of the financial problems Mohammed Saleem believes Soult can help address is the issue of unclaimed funds in banks. He referred to Reserve Bank of India data and said India has more than INR 75,000 crore to INR 80,000 crore in unclaimed funds. The transcript does not provide a specific RBI report or date for this figure. Mohammed Saleem said the problem partly arises because individuals may hold multiple bank accounts that are not known to their family members. If information about bank accounts, insurance policies and other assets is securely recorded in Soult, family members or designated executors could identify those assets when they are given access to the vault. The platform allows users to record bank account numbers, branches and other relevant banking information, according to Mohammed Saleem. Users can also assign particular assets to designated beneficiaries or nominees. For example, a person could specify which family member should receive a particular personal asset. Mohammed Saleem emphasized that recording such information does not itself replace the legal process of transferring assets; rather, it allows individuals to document their wishes and provide their families with the information required to locate and manage their assets.

Security and Data Privacy

Security was highlighted as a central feature of Soult Digital because of the sensitive nature of the information users may store on the platform. Mohammed Saleem said information stored on the platform is protected using AES-256 encryption and stored on Amazon Web Services (AWS), with backups. He also cited ISO 27001 and ISO 9001 certifications and said the company is working toward SOC 2 compliance. He further stated that Soult is compliant with India’s Digital Personal Data Protection (DPDP) Act, 2023. Mohammed Saleem said Soult does not sell or monetize users’ data and does not use advertising within the application. He further stated that the company’s employees cannot access the contents stored in users’ vaults. According to him, the platform has been designed so that users’ information remains private and is only made available to designated loved ones or executors under the circumstances specified by the user.

Nominees and Executors

Soult allows users to designate people who can receive access to information stored in their vaults. Mohammed Saleem explained that access can be provided in emergency situations or following an event that triggers the platform’s designated access process. The platform can send notifications to nominees or executors when the relevant conditions are met, allowing them to access the information stored in the vault. Depending on the subscription plan, users can assign different numbers of executors. Mohammed Saleem said the basic plans have limits, while the unlimited plan allows users to assign more executors and loved ones. Users can also associate particular memories with specific people. The platform supports multiple types of content, including written notes, voice recordings and video messages. This allows family members to hear or see messages left by the user rather than relying solely on written documents.

Preserving Personal Memories

A major part of Soult Digital’s concept goes beyond financial assets. Mohammed Saleem said the platform was partly inspired by his personal experience of losing his father when he was 12 years old. He recalled that his father used to maintain a diary, write poems and record his thoughts and advice for his children. He also remembered a letter written by his father during the final months of his life containing guidance for the family. However, Mohammed Saleem said the diary and letter could no longer be located. That experience influenced the development of Soult’s memory and journaling features, he said. Through the platform, users can record daily thoughts, personal experiences, family memories and messages that can potentially be accessed by future generations. Mohammed Saleem said he hopes the platform will prevent future families from losing such personal records.

Digital Wills and Legal Considerations

The interview also addressed whether information stored on Soult can serve as a legally recognized will. Mohammed Saleem acknowledged that, in India, a digital will by itself is not legally sufficient. He said users still need to create a legally valid will, have it notarized or registered with the relevant authorities where required, and then store a copy of the document on the Soult platform. The platform can also allow users to record information about where the original physical will is held, such as with a lawyer, consultant or another trusted person. Mohammed Saleem said Soult has included templates intended to assist users in preparing wills, including different templates based on various circumstances. However, he emphasized that the document still needs to follow the applicable legal process. The digital copy stored on the platform may serve as supporting documentation, but the platform does not replace formal legal requirements.

A Single Platform for Important Records

Mohammed Saleem said Soult was created in response to the fragmented way people currently store personal information. Individuals may keep photographs on social media or cloud services, passwords in password managers, documents on computers and financial information in separate applications. Soult’s objective is to bring these different categories together in a single platform. The platform can hold personal memories, financial records, KYC documents, insurance information, banking details, passwords and other important information, according to Mohammed Saleem. He argued that centralizing such information can make it easier for families to identify and access important records during emergencies.

Free and Paid Plans

Soult Digital is available on Android and iOS, according to Mohammed Saleem. The platform offers a free version with limitations on the number of memories, assets and documents users can store. Users can upgrade to paid plans after reaching the limits of the free version. Mohammed Saleem said paid plans start at approximately $20 per year, describing the cost as less than $2 per month. He compared the pricing with standalone password-management services, arguing that Soult provides broader functionality because password storage is only one component of the platform.

India as the Initial Market

Although Soult Digital was launched in India, Mohammed Saleem said the company intends to build a global platform. He said India was selected as the initial market because of its large population and the scale of the problems surrounding financial and personal information. The company plans to expand into the GCC region, followed by the United States and other international markets, according to Mohammed Saleem. He also highlighted the increasingly global nature of families, where parents, children and siblings may live in different countries. In such situations, Mohammed Saleem believes a digital platform can help families preserve and share important information across borders.

Building Awareness Through Employers and Communities

Mohammed Saleem said Soult was launched approximately three to four weeks before the interview and had already received downloads and a positive initial response. The company is pursuing partnerships with employers to offer Soult as an employee benefit. He said the company is also conducting awareness activities in residential communities and offices to educate people about the importance of organizing their financial, personal and family information. According to Mohammed Saleem, the objective is to make digital life organization a normal part of financial and family planning.

Protecting Memories From Physical and Digital Loss

The interview also highlighted the risk of losing personal records because of physical damage or technological failure. Mohammed Saleem pointed to situations such as natural disasters, war, fires, lost devices and damaged computers as examples of circumstances in which important information could disappear. He said storing information in an encrypted digital vault can reduce dependence on a single physical device. The platform can also preserve private photographs, videos, travel memories and voice recordings that users may not want to publish on public social media platforms but may want their families to access in the future.

Global Expansion and Long-Term Vision

Looking ahead, Mohammed Saleem said the company’s ambition is to reach households across India, the GCC and eventually other parts of the world. He described Soult as a necessity rather than a luxury, arguing that families increasingly need a structured way to organize their digital, financial and personal lives. The company’s long-term objective, according to Mohammed Saleem, is not simply to create another storage application but to build a platform through which individuals can preserve their wishes, memories, assets and personal information and pass them on to future generations. “Our promise is to make sure that all the families are organized and all their data remains safe,” Mohammed Saleem said during the interview. He reiterated that the company intends not to monetize or sell users’ data and said the information stored on the platform would remain encrypted and secure.

Conclusion

Soult Digital is positioning itself at the intersection of digital security, financial organization, personal data management and digital inheritance. While traditional financial institutions already provide mechanisms such as nominees and beneficiaries for individual accounts and insurance policies, Mohammed Saleem argues that families can still face difficulties locating accounts, documents and personal information when a family member becomes unavailable. Soult’s approach is to create a centralized digital vault where users can organize those details in advance and designate the people who should eventually receive access. With its initial focus on India and planned expansion into the GCC, the United States and other markets, the company is seeking to turn digital legacy planning into a mainstream household practice. The interview concluded with Mohammed Saleem expressing his ambition to eventually reach households globally and build Soult into a widely used platform for preserving and passing on personal, financial and family information.