Company Insights Tarabut Banking & Finance Tarabut Overview Tarabut, previously Tarabut Gateway, is the Mena region’s first and largest regulated open banking platform, connecting a regional network of banks, fintechs and businesses via a universal application programming interface (API). Tarabut was established in 2017 by founder Abdullah Almoayed. Starting in Bahrain, the company has since expanded to the UAE and Saudi Arabia. It claims to have connected to over 17 million bank accounts and acquired 90 percent bank coverage in Bahrain. Tarabut says its goal is to create an open financial services industry, providing the benefits of open banking to consumers, banks and fintech firms. In May 2023 Tarabut secured $32 million in Series A funding in order to promote open banking in Saudi Arabia. The funding round was led by Pinnacle Capital, along with Tiger Global, Visa and Aljazira Capital, among others. In 2024 Tarabut acquired London-based Vyne, a real-time account-to-account payments platform for online businesses, which it plans to extend into Mena. Tarabut News Banking & Finance Tarabut poised as Saudi plans open banking regulations Open banking platform Tarabut Gateway is gearing up for the launch of new regulations in Saudi Arabia as the kingdom expands its financial technology offerings. The system of open banking allows for financial data to be shared between banks and third-party service providers through the use of applications. Ayman al Sayari, governor of the Saudi […] September 14, 2023 Exclusive Banking & Finance Dubai’s Tarabut points way for open banking in GCC The new chief financial officer of open banking platform Tarabut Gateway sees “exciting times ahead” as the company focuses on expansion in Saudi Arabia. It is also hoping to enter other Middle East markets. Open banking allows for financial data to be shared between banks and third-party service providers through the use of applications. Similar […] August 10, 2023 Banking & Finance Visa makes first Mena open banking investment Payments giant Visa has made its first investment into open banking in the Middle East and North Africa as the region seeks to develop its fintech sector. Open banking allows customers to share their financial data securely with a third-party provider to take advantage of new services and products. Tarabut Gateway, an open banking platform, […] May 3, 2023 Posts navigation
Banking & Finance Tarabut poised as Saudi plans open banking regulations Open banking platform Tarabut Gateway is gearing up for the launch of new regulations in Saudi Arabia as the kingdom expands its financial technology offerings. The system of open banking allows for financial data to be shared between banks and third-party service providers through the use of applications. Ayman al Sayari, governor of the Saudi […] September 14, 2023
Exclusive Banking & Finance Dubai’s Tarabut points way for open banking in GCC The new chief financial officer of open banking platform Tarabut Gateway sees “exciting times ahead” as the company focuses on expansion in Saudi Arabia. It is also hoping to enter other Middle East markets. Open banking allows for financial data to be shared between banks and third-party service providers through the use of applications. Similar […] August 10, 2023
Banking & Finance Visa makes first Mena open banking investment Payments giant Visa has made its first investment into open banking in the Middle East and North Africa as the region seeks to develop its fintech sector. Open banking allows customers to share their financial data securely with a third-party provider to take advantage of new services and products. Tarabut Gateway, an open banking platform, […] May 3, 2023
