Tarabut Opens Regional Headquarters In Riyadh To Advance Open Banking Initiatives

Tarabut, one of the leading regulated financial technology platform in the Middle East and North Africa (MENA), has established its regional headquarters in Riyadh. This move signifies a major step in focusing on product development and client services within Saudi Arabia.

By setting up in Riyadh, Tarabut is deepening its commitment to the Kingdom, positioning itself as a crucial technological and intelligence backbone for open banking in Saudi Arabia.

The Riyadh base is set to be a centre for innovation and collaboration, focusing specifically on developments for the Saudi market. Tarabut's establishment in Riyadh comes after successfully integrating with all major Saudi banks and forming significant partnerships with entities like SNB, Alinma Bank, and SAB.

This strategic location will expedite the adoption of open banking and embedded finance, aiding the financial sector at a critical point in the implementation of open banking. It aims to assist financial institutions and fintech companies in overcoming obstacles related to financing, credit decision-making, and enhancing customer experiences. Moreover, it supports the broader objectives of Saudi Arabia's fintech transformation.

"Establishing our headquarters in Riyadh is a long-term commitment to the Kingdom and our pledge to build, to serve, and to grow alongside our regulator, partners, shareholders, and team. I would like to thank the Saudi Central Bank, our partners, and our people — in particular, the outstanding Saudi talent at Tarabut — for being part of this journey as we support the Kingdom's open banking rollout and fintech transformation," stated Abdulla Almoayed, Tarabut's founder and CEO.