Tarabut Gateway, the largest Open Banking platform in the MENA region, has announced four key partnerships in Saudi Arabia: Riyad Bank, Saudi British Bank (SABB), Alinma Bank, and Banque Saudi Fransi (BSF).

Connecting a regional network of banks and Fintechs via a universal application programming interface (API), Tarabut Gateway plays a vital role in building the infrastructure of the open banking ecosystem.

Using the Company’s platform-agnostic solutions, traditional financial institutions and Fintechs can connect and build their own apps on top of Tarabut Gateway’s platform, offering payment services, digital wallets, and multiple other use cases, in addition to a unified and easy to use developer portal.  

“We are delighted to have been selected to partner with many of KSA’s leading banks. KSA is on the cusp of Open Banking driving rapid innovation and transforming the Kingdom’s financial services. The country’s vision is ambitious and achievable, and we look forward to being a core part of the Open Banking ecosystem,” Abdulla Almoayed, Chief Executive Officer of Tarabut Gateway, said. 

Last month, Tarabut was awarded the first-ever UAE Open Banking license by the DFSA, following its track record & success in Bahrain.

“At Saudi British Bank, we continue to invest in being an active role in developing KSA’s financial sector through innovation and customer experience. Additionally, through Open Banking, we are committed to our role in achieving the Kingdom’s vision, supporting economic growth, and safeguarding financial stability,” Musaifer AlOsaimi, Chief Information Officer at SABB, stated.  

Also read: Tarabut Gateway becomes the first regulated Open Banking platform in the UAE