Hakbah, the Fintech Savings Platform, joins forces with Tarabut, MENA’s Open Banking Provider.

Hakbah, a fintech savings platform based in Saudi Arabia, has announced a new partnership with Tarabut, an open banking provider in the Middle East and North Africa (MENA) region. The partnership will streamline tasks for Hakbah, reducing the cost of its services and cutting data processing time by 40%. It will also enable the company to offer innovative and tailored solutions to address customer needs. Hakbah, which operates in Saudi Arabia’s $20.5 billion household savings market, has experienced significant growth in revenue and has partnerships with major players such as flynas, the national airline of Saudi Arabia. The company’s social savings platform digitizes traditional group savings behavior, allowing users to save for specific financial needs and increasing financial literacy. The partnership with Tarabut aligns with Hakbah’s strategy to work with world-class partners to enhance its services at an affordable cost.