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Bahrain’s Flooss taps Tarabut for open banking-powered lending

Bahrain-based fintech Flooss partners with open banking platform Tarabut to enhance its digital lending platform, creating Bahrain’s first open banking-enabled digital lending service.

Facts

  • Flooss is a fintech company based in Bahrain.
  • Flooss has partnered with Tarabut, an open banking platform based in Dubai, UAE.
  • Flooss will adopt Tarabut’s Income Verification product, which uses open banking APIs to access customers’ income information, eliminating the need for manual salary certificate submissions.
  • The partnership aims to enhance the efficiency, accuracy, and security of Flooss’s lending operations.
  • Fawaz Ghazal, CEO of Flooss, emphasizes the importance of reimagining the customer lending experience and expects the partnership to reduce lending processing times to a few minutes.
  • Tarabut’s founder and CEO, Abdulla Almoayed, highlights that the partnership supports financial inclusion and aligns with Bahrain’s goal to improve its financial infrastructure by providing affordable and efficient lending facilities.

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