The challenges of open banking and how to overcome them | Fintech Forward 2024
Abdulla Almoayed, Founder and chief executive, Tarabut, Henk Van Hulle, Chief executive, Open Banking Limited, and Joshuaย ...
CEO & Founder, Tarabut Gateway
Search every verified Abdulla Almoayed interview, podcast appearance, and on-the-record quote โ each transcript cross-checked by AI and human review to confirm speaker identity. Abdulla Almoayed, founder and CEO of Tarabut Gateway, has been speaking about the progress and potential of open banking in the Middle East and North Africa. He has described open banking as an infrastructure that gives consumers control over their financial data and enables more personalized, proactive financial services. Almoayed has stated that the region's 18 jurisdictions, with a population of 550 million and fewer than 350 retail banks, present a significant opportunity for competition and financial inclusion. He noted that Tarabut, which he described as the first licensed open banking platform in the region, has grown to nearly 200 employees across hubs in Bahrain, the UAE, Saudi Arabia, and the UK. Almoayed has discussed the shift in bank attitudes toward open banking, saying that two years ago many banks viewed it as a threat, but that perspective has changed. He has advocated for a unified regulatory framework across the GCC to simplify cross-jurisdictional operations, and has emphasized the importance of aligning interests between banks, regulators, and technology providers through revenue-sharing and profit-sharing models. Almoayed has also highlighted specific use cases enabled by open banking, including shortening microloan application times from six days to under four minutes and providing access to credit for gig-economy workers without traditional salary certificates.
“Open banking was introduced to increase competitiveness and to deliver better services to customers who don't have access to these services today.”
“We can now unlock data so people in the gig economy who don't have a salary certificate can get access to loans they couldn't get before.”
“I remember knocking on the door at the central bank and saying we need something called open banking; the first answer was 'what is open banking?' โ then we had a conversation and showed the social impact it could have.”
“Cybersecurity is a moving goalpost, so regulators must take care of requirements so licensed companies can leverage data to create more personalized services.”
Abdulla Almoayed, Founder and chief executive, Tarabut, Henk Van Hulle, Chief executive, Open Banking Limited, and Joshuaย ...
Join Arjun and Abdulla Almoayed, Founder & CEO of Tarabut, for insights on financial services in the GCC, #openbankingย ...
Speakers: Abdulla Almoayed, Founder and chief executive, Tarabut Henk Van Hulle, Chief executive, Open Banking Limitedย ...
Access Tomorrow, brought to you by Visa, features Leila Serhan, SVP & GCM, NALP, Visa and Abdulla Almoayed, Founderย ...
This week's guests include: โข Hasan Kazmi, Head of Digital Partnerships for CEMEA at Visa โข Abdulla Almoayed, Founder andย ...
Join Arjun on Couchonomics as we explore open banking and fintech in the GCC with Abdulla Almoayed, Founder & CEO of Tarabut. Discover the evolving landscape of financial services, BaaS, and gain insights into open banking. We also delve into Tarabut's inspiration, GCC financial services, managed competition, challenges, and opportunities with open banking, BaaS integration, and accelerating digital adoption through fintech partnerships. Watch now on YouTube and major podcast platforms! #Couchonomics #Fintech #OpenBanking #GCC #Tarabut Couchonomics with Arjun Season 03 is brought to you byโฆ
Watch Abdulla Almoayed's interview on Emirates News following our funding announcement, elaborating on what Open Bankingย ...
Panellists: Huw Davies, co-Founder and CCO, Ozone API Abdulla Almoayed, Founder & CEO, Tarabut Gateway Tiago Aguiar,ย ...
Following our latest news in securing $13 million of funding and being the largest FinTech seed round in history, listen in to ourย ...
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