Khaleeji Commercial Bank (KHCB), one of the leading Islamic Banks in the Kingdom of Bahrain, has recently announced that it is fully set to provide its open banking service to clients through its “Khaleeji 360″ platform, which allows clients to link their accounts with different banks and review aggregated information about their financial operations through KHCB’s Mobile App.
This comes as KHCB confirmed that it has provided all the basic requirements to launch the platform through adopting the systems developed by Tarabut Gateway, a specialized company in Financial Technology (FinTech) and leading open banking infrastructure solutions provider.
On this occasion, KHCB’s AGM Digital Banking, Mr. 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.
Through the new portal, clients will be able to link & view all their accounts with other banks in order to define budgets, monitor payments, automate the classification of transactions and conduct a comprehensive analysis of deposits and expenses, ensuring them a complete view of their financial statements and conduct of banking operations with ease through one platform.
Commenting further, Mr. 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. We have been able to further strengthen our leading position as a result of our continuous eagerness to provide innovative banking products and services. We are looking forward to cooperating with FinTech firms to continue being among financial institutions at the forefront of the digital race in the banking sector.”
For his part, Tarabut Gateway CEO and Founder Mr. Abdulla Almoayed said: “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 to develop data-driven and personalized 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,” Mr. Almoayed added.