Tarabut Gateway partners with Qarar to improve lending in MENA

Thursday 25 May 2023 10:35 CET | News

UAE-based Tarabut Gateway has partnered with credit analytics technology provider Qarar to improve the lending experience of MENA’s population.


Through this partnership, the two companies aim to improve the MENA financial sector by leveraging Tarabut Gateway’s Open Banking solutions and Qarar’s expertise in credit scoring and decision automation. The collaboration allows financial institutions to provide personalised lending products that are in line with the needs of the MENA population. 

As individuals and businesses face challenges in accessing credit and up-to-date financial information, the two companies enable financial institutions to perform faster and more accurate credit decisions thus improving user experience and supporting financial inclusion. 

Qarar is an analytics and decision automation company in the Middle East, specialising in providing credit scoring, risk advisory, and decisioning solutions. As the technology arm of credit bureau SIMAH, Qarar offers predictive modelling solutions that allow financial institutions to make informed lending decisions, improve risk management, and speed up business growth. 

In the company press release, Tarabut Gateway officials talked about their partnership with Qarar and emphasised their plans to leverage the power of Open Banking to help financial institutions offer personalised lending solutions and drive financial inclusion in the MENA region.


UAE-based Tarabut Gateway has partnered with credit analytics technology provider Qarar to improve the lending experience of MENA’s population.


Other developments from Tarabut Gateway

In May 2023, Tarabut Gateway entered a strategic partnership with Visa with the aim of redefining Open Banking in the MENA region by developing new products and solutions that leverage Open Banking capabilities. At first, the collaboration will focus on creating data-driven offerings, including credit risk assessments, advanced analytics, and insights. 

In addition, the two companies plan to explore solutions related to cross-border payments and lending. In essence, Tarabut Gateway and Visa aim to improve customer experiences, streamline cross-border transactions, and foster innovation and cooperation within the financial ecosystem. 

Earlier in the same month,  Tarabut Gateway announced the successful completion of a USD 32 million Series A funding round. The investment was led by Pinnacle Capital, and the funding will help Tarabut Gateway to expand its operations in the Saudi market, attract new talent, and foster strategic partnerships within the Kingdom. 

Tarabut Gateway assembled a team of experts to build on the region's recent Open Banking developments. With over 60% market coverage in KSA through partnerships with banks such as Alinma Bank, Arab National Bank, Saudi National Bank, and Riyad Bank, Tarabut Gateway is bringing up an Open Banking infrastructure across Saudi Arabia, the UAE, and Bahrain.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: partnership, lending, Open Banking, credit scoring
Categories: Payments & Commerce
Companies: Qarar, Tarabut Gateway
Countries: United Arab Emirates
This article is part of category

Payments & Commerce



Tarabut Gateway

Discover all the Company news on Qarar and other articles related to Qarar in The Paypers News, Reports, and insights on the payments and fintech industry:

Industry Events