Tarabut & BENEFIT partner to streamline Bahrain’s Open Banking ecosystem

Tarabut & BENEFIT partner to streamline Bahrain’s Open Banking ecosystem

Tarabut, MENA’s first and largest Open Banking platform, has partnered with BENEFIT, Bahrain’s leading FinTech company and the national electronic payment infrastructure operator, introducing a new consent authentication method to streamline Bahrain’s Open Banking ecosystem. Through Tarabut’s advanced Identity Verification product, and regulator-approved application programming interface (API), BENEFIT users can consent to accessing Open Banking […]Tarabut, MENA’s first and largest Open Banking platform, has partnered with BENEFIT, Bahrain’s leading FinTech company and the national electronic payment infrastructure operator, introducing a new consent authentication method to streamline Bahrain’s Open Banking ecosystem.

Through Tarabut’s advanced Identity Verification product, and regulator-approved application programming interface (API), BENEFIT users can consent to accessing Open Banking services directly in the BENEFIT app and others. 

The partnership will enhance customer experience by eliminating the scattered customer journeys typified by the need to switch between notifications and bank apps. The Tarabut-BENEFIT collaboration paves the way for a cohesive, enhanced experience, poised to significantly boost user conversions.

The integration includes app-to-app deep linking, improving the authentication model for users in Bahrain to quickly link their bank accounts, regardless of the bank. This alliance ensures consistent access to a wider range of financial products, fostering competition and enhancing experiences across all financial