Tarabut Gateway, the leading regulated open banking platform based in Dubai, has been granted open banking certification by the Saudi Central Bank, marking a significant step towards Saudi Arabia’s ambition to become a global fintech hub. With this approval, Tarabut Gateway aims to expand its operations in the Kingdom, offering innovative and personalized financial services to consumers.
Abdullah Almoayed, CEO and founder of Tarabut Gateway, expressed their commitment to addressing the challenges faced by small and medium enterprises (SMEs) in Saudi Arabia. “Particularly regarding cash-flow management and access to funding. Leveraging open banking-enabled financial services and products, Tarabut Gateway aims to assist SMEs in accessing the necessary funding for their growth and success.” He added, “The new era of financial services we stand for is user-centric and contributes to customers’ financial well-being.”
Aligned with the Vision 2030 blueprint, Tarabut Gateway is actively contributing to Saudi Arabia’s financial transformation. The company has worked closely with regulators, anticipating and adapting to regulatory innovation, in order to streamline financial operations and foster economic growth on an industrial scale.
With a focus on energizing the fintech ecosystem, Tarabut Gateway offers a dynamic platform that enables banks, SMEs, lenders, and large corporations to leverage data, facilitate payments, and create groundbreaking financial solutions. By bridging the gaps in financial data flow, Tarabut Gateway empowers organizations to innovate and enhance consumers’ financial experiences, ultimately working towards a financially savvy and inclusive society.
Tarabut Gateway recently secured $32 million in funding, further bolstering its open banking operations within the Kingdom. With a strong vision and commitment to revolutionizing financial services, Tarabut Gateway is set to drive positive change and contribute to the advancement of Saudi Arabia’s fintech landscape.