NBB and TARABUT GATEWAY signs MoU/Supplied
Last year, the Central Bank of Bahrain (CBB) introduced regulation that mandated the adoption of open banking by all banks in the Kingdom by 30 June 2019.
Thursday 16, May 2019 BY KUDAKWASHE MUZORIWA
National Bank of Bahrain (NBB) has partnered with Tarabut Gateway, the Kingdom’s first licenced open banking systems provider, to enable customers to access new digital services and aggregate all their accounts from different banks.
The lender stated that Tarabut Gateway’s technologies will enable NBB’s customers to connect their account to any bank in Bahrain and create a consolidated view of their finances from within the NBB’s online and mobile banking apps.
The open bank system allows NBB account holders to link their accounts to verified, independent apps that offer a broader range of services and functionality.
Yaser Alsharifi, the Chief Strategy Officer at the NBB, said, “Allowing our customers to get a full view of their finances in one place is an important step in making banking more accessible and convenient for our customers and an achievement towards our digital offering.”
The system enables account holders to link multiple accounts from different banks together and view all of their financial assets as well as liabilities from within a single mobile app or online banking service.