Tarabut Opens New Regional Headquarters in Riyadh
▼ Summary
– Tarabut, MENA’s leading regulated fintech platform, has opened its regional headquarters in Riyadh to support Saudi Arabia’s open banking rollout.
– The new headquarters will serve as a hub for Saudi-focused product development and collaboration with regulators and financial institutions.
– Tarabut has achieved full connectivity to all major Saudi banks and signed key partnerships with institutions like SNB, Alinma Bank, and SAB.
– The company’s CEO emphasized this move as a long-term commitment to Saudi Arabia’s transformation and open banking development under Vision 2030.
– Tarabut’s infrastructure will help financial institutions address challenges in financing, credit decisioning, and customer experience through open banking solutions.
Tarabut, the Middle East and North Africa’s premier regulated financial technology platform, has officially launched its new regional headquarters in Riyadh. This strategic move solidifies the company’s dedication to supporting Saudi Arabia’s ambitious open banking framework and aligns directly with the nation’s transformative Vision 2030 economic goals. The new office will function as a central hub for developing products specifically for the Saudi market and for strengthening the company’s role as a foundational technology and intelligence provider for the Kingdom’s financial sector.
The inauguration ceremony welcomed prominent figures from key strategic partners, including the Saudi National Bank (SNB), SAB, Alinma Bank, Bank Aljazira, and the Gulf International Bank (GIB). Their attendance, alongside Tarabut’s own board and leadership, highlighted the firm’s deep and growing integration within the Saudi financial ecosystem and its collaborative relationships with the country’s leading institutions.
Abdulla Almoayed, Founder and CEO of Tarabut, addressed attendees, stating, “Saudi Arabia has demonstrated that transformation is far more than just a popular term; it is a detailed and actionable plan. Our decision to establish a headquarters in Riyadh represents a profound, long-term commitment to the Kingdom. It is our promise to build, to serve, and to grow in close partnership with our regulator, our partners, our shareholders, and our dedicated team. We extend our gratitude to the Saudi Central Bank, all our partners, and our incredible people, especially the exceptional Saudi talent within Tarabut, for joining us on this journey as we contribute to the Kingdom’s open banking rollout and its wider fintech evolution.”
The new Riyadh headquarters is designed to be a center for innovation and partnership, focusing intently on the needs of the local market. Tarabut has already secured full connectivity with all major Saudi banks and established landmark partnerships with institutions like SNB, Alinma Bank, and SAB. With this permanent operational base, the company is positioned to significantly accelerate the adoption of open banking and embedded finance applications. This expansion comes at a critical phase in Saudi Arabia’s open banking implementation, empowering both traditional financial institutions and new fintech companies to tackle complex challenges in areas such as financing, credit decision-making, and enhancing the overall customer experience.
(Source: MEA Tech Watch)
