Written by Delisha Fernandes
today
- Central Bank of Bahrain
- consumer loan
- digital lending platform
Tarabut, an open banking platform in MENA, has partnered with FLOOSS, a Bahrain-based digital lending platform. This partnership streamlines FLOOSS’s digital lending experience and dramatically reduces loan approval times to just minutes using Tarabut’s income verification products.
The loan approval process has been reduced to just a few minutes, a huge change from the previous two-week process. By leveraging open banking APIs, the newly launched product enables instant approval of loans, eliminating traditional multi-day approval processes.
Abdullah Almoayed, Founder and CEO of Tarabutsays: “We are proud to announce our latest partnership with FLOOSS, one of Bahrain’s leading lending platforms. Together we will drive financial inclusion and support Bahrain in line with Bahrain’s plans for a strong financial ecosystem. Everyone should have access to affordable and efficient financing, and this partnership is an important step towards that goal.”
FLOOSS integrated with Tarabut to provide customers with a seamless lending process that provides easy access, saves money and time, enhances security, and digitizes traditional manual tasks. FLOOSS is a digital loan app that offers consumer loans up to 750 BHD with repayment terms of up to 12 months.
Mr. Fawaz Ghazal, CEO of FLOOSSHe said: “We need to reimagine the customer lending experience and journey. Customers expect more from their financial services providers. has implemented a customer-first solution that seamlessly reduces loan processing time to minutes. We are proud of our innovative efforts and will be making further announcements with our partner Talabt in the Kingdom of Saudi Arabia in the near future. I look forward to seeing it happen.”
Transforming the lending sector has become a key priority as Tarabut works with more banks, corporates and financiers in the MENA region. Powered by open banking technology, these partnerships aim to help financial institutions maximize revenue, enrich the customer experience, and reduce operational costs.
Previous article
Lyvia Group raises $145 million in funding from Danske Bank and DNB
read more