Khaleeji Commercial Bank (KHCB) launches its open banking services platform

Source: IBS Intelligence 2020-07-14

Khaleeji Commercial Bank (KHCB), an Islamic bank in the Kingdom of Bahrain, announced that it is set to provide its open banking service to clients through the ‘Khaleeji 360’ platform. The platform enables clients to link their accounts with different banks and review aggregated information about their financial operations through KHCB’s Mobile App. The bank has adopted the systems developed by Tarabut Gateway, a FinTech company and open banking infrastructure solutions provider.

KHCB’s AGM Digital Banking, Mazen Salman Sater, asserted that the bank’s readiness to provide open banking services in compliance with the directives of the Central Bank of Bahrain (CBB) reflects its constant strives to boost the innovation, creativity and efficiency of its products and services.

Sater added, “Our valued clients will benefit from the innovative ‘Khaleeji 360’ platform in reaching new solutions that will contribute to facilitating banking services and providing them quickly, which is what we strive for as a bank whose action plan is based on making the most out of what the FinTech sector provides…”

The platform is beneficial for clients in a way where they can define budgets, monitor payments, automate the classification of transactions and conduct a comprehensive analysis of deposits and expenses. This gives customers a complete view of their financial statements and conduct of banking operations.

Tarabut Gateway CEO and Founder Abdulla Almoayed mentioned, “Our open banking technology aims to help and empower bank customers across the Kingdom to get a better overview and understanding of their finances. We are delighted to extend our relationship with KHCB following this new agreement to our broader open banking partnership.”

“Since our establishment in 2018, Tarabut Gateway has been dedicated to supporting partner banks and financial institutions develop data-driven and personalised financial services. Through our state-of-the-art technology, we look forward to continuing to work with KHCB as they extend and enhance their open banking offerings across the Kingdom,” Almoayed added.

Khaleeji Commercial Bank (KHCB)

Khaleeji Commercial Bank (KHCB) launches its open banking services platform

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