back Back

Tarabut Gateway partners with Visa to boost open banking in MENA

By Leandra Monteiro

May 10, 2023

  • Collaborations
  • Credit Management
  • Cross Border Payments
Share

Tarabut Gateway, VisaTarabut Gateway, the Middle East and North Africa’s open banking platform announces a strategic partnership with the global digital payment company, Visa.

The two companies will collaborate on developing new products and solutions using open banking capabilities. The initial focus will be on creating data-driven offerings such as credit risk assessments, advanced analytics, and insights. Additional solutions anticipated will involve cross-border payments and lending.

The partnership will elevate product offerings through technology and expertise collaboration, enhance customer experiences, streamline cross-border transactions, and foster innovation and cooperation across the financial ecosystem.

Abdulla Almoayed, Founder and CEO of Tarabut Gateway, said, “We are excited to announce our strategic partnership with Visa, a world-class brand. Our existing close relationship, through Visa’s investment in Tarabut Gateway, has paved the way for this collaboration. The progress of open banking in the Middle East in recent years has been remarkable, and we are grateful for the opportunity to lead the sector and support the entire ecosystem.”

Otto Williams, Senior Vice-President and Head of Product, Partnerships, and Digital Solutions for Visa Central and Eastern Europe, Middle East, and Africa, said, “As we look to the future of digital financial services, it is clear that the key drivers of growth will be innovation and openness. By partnering with Tarabut Gateway and integrating our global payments network with their open banking platform, we are poised to deliver innovative financial services that cater to the unique needs of the MENA region. Our shared commitment to next-generation solutions will enable us to transform the financial landscape and offer cutting-edge services to our customers.”

The investment in Tarabut Gateway is consistent with Visa’s open banking strategy to partner and invest in leading companies for the co-development of innovative products and solutions and follows last year’s acquisition of Tink, one of Europe’s leading open banking platforms.

Previous Article

May 10, 2023

Temenos arrives on IBM Cloud for core banking modernisation

Read More
Next Article

May 10, 2023

Yonder taps Transact Payments for its new rewards-based credit card

Read More









IBSi Daily News Analysis

Middle East, Egypt

January 16, 2024

Collaborations

Egypt among top remittance recipient countries in 2023: World Bank

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Storfund & Mangopay to ease cash flow for marketplace sellers

Read More

Today

Revolut teams with Jabil to scale development of mobile payment solutions

Read More

Today

Worldline partners with Google to enhance cloud-based innovation

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023