Tarabut Gateway, MENA region’s biggest Open Banking platform, will be conducting a series of six different Open Banking Interactive Workshops, which have been designed to help individual consumers, banks and Fintech firms learn more about the new policy.
The first workshop will be conducted this month and is called “Open Banking for Beginners.” It is open to the general public and will be held at Tarabut’s headquarters, which are based in the Financial Harbor in Bahrain.
The Tarabut Gateway-led project is a nationwide initiative with the aim of enabling financial inclusion in the Middle Eastern kingdom. The project involves a step-by-step approach, which aims to create simpler, more accessible, and clear content, and dissemination of knowledge, in order to help banks and Fintech firms identify valuable opportunities. The project’s team will be managing a database of customers who may be interested in financial education.
The workshops will be held until the end of August 2020, and will focus on promoting open banking awareness among individuals. Workshop participants will be encouraged to talk about their daily spending and financial management strategies, share key insights with banking institutions and Fintechs firms, and will discuss potential opportunities for collaborations between different financial service providers.
Tarabut Gateway is notably MENA’s only Open Banking platform that offers access to a worldwide network of banks and Fintech companies. It’s reportedly the first licensed Account Information Service Provider (AISP) and Payment Initiation Service Provider (PISP) in the kingdom of Bahrain.
Tarabut Gateway helped establish the first major partnership between an open banking Fintech firm and an established bank in the MENA area. Tarabut Gateway teamed up with one of Bahrain’s largest financial institutions, the National Bank of Bahrain (NBB) to integrate innovative technologies that allow it to offer new Open Banking Services.
“We want to demystify the concept of Open Banking and make it relatable to the users. Banks should shape products around people, rather than expect consumers to shape themselves around their products. Consumers want a seamless experience that allows them to understand their financial information in a better way.”
“This is about creating the future of finance and money management and including customers helps us understand their needs whilst getting them excited about the power of what open banking can achieve.”