Tarabut Gateway announces strategic partnership with Qarar

By Leandra Monteiro

Tarabut Gateway, an open banking platform, announced a strategic partnership with Qarar, a credit analytics technology provider and technology arm of SIMAH, a credit bureau in the Kingdom of Saudi Arabia.

This strategic partnership aims to revolutionise the financial landscape and pave the way for faster and more reliable lending by leveraging Tarabut Gateway’s open banking solutions and Qarar’s expertise in credit scoring and decision automation.

Abdulla Almoayed, Founder and CEO of Tarabut Gateway said, “We are thrilled to partner with Qarar, a leader in credit analytics and decision technology. Together, we will leverage our expertise, technology and the power of open banking to help financial institutions offer personalised lending solutions and drive financial inclusion in the MENA region.”

Through this collaboration, financial institutions can offer tailored lending products catering to the needs of MENA’s population. By addressing challenges faced by individuals and businesses in accessing credit and up-to-date financial information, the collaboration will enable faster and more accurate credit decisions.

The partnership will also drive financial inclusion, contributing to the region’s economic growth and development highlighting both companies’ dedication to innovation and their commitment to creating a more accessible, efficient, and inclusive financial ecosystem in the Middle East.

Zaid Kamhawi, CEO of Qarar commented, “This partnership with Tarabut Gateway marks a significant milestone for Qarar in our mission to empower financial institutions with advanced decision technology. We are excited to collaborate with Tarabut Gateway and further enhance the use of open banking data to inform and automate credit decisions that will help financial institutions better serve their customers and contribute to the growth of the region’s economy.”