Tarabut
Tarabut is MENA’s first regulated Open Banking platform
This banking platform is reimagining online banking in the MENA region through the ecosystem of connections. They enable banks and other fintechs to connect with third-party providers to share information in the most secure way. Tarabut app has over 200K downloads.- Location MENA
- Industry FINTECH
- Team Size 10 people
- Duration 9 months
- Budget $ 500K
Challenges
Limited budget for the whole solution: $ 500K
Shortage of inhouse Open Banking implementation expertise
Build first open banking engine & app in MENA region, which is compliant with newly issued Legislation
Integrate all 24 commercial banks in Bahrain into the solution
Solution
Tarabut is MENA’s first regulated Open Banking platform. It includes Web & Mobile solution B2B2C.
Personal Financial Manager system for the GCC region. The system provides users with the ability to access and manage bank accounts from all open-banking integrated commercial banks as well as make payments and transfers through the Open Banking platform 24/7 using a mobile application.
our input
UI/UX Design
Solution arcitecture
Ios development
Android development
Back-end Development
Front-end Development
Quality Assurance
Cloud & Devops
Business analysis
Project management
RESULTS
We're proud of reaching new heights with our customers, helping them achieve advanced levels of scalability and stability.
- total evaluation£25M
From £ 0 to £ 25M product evaluation based on solid development.
- user base200K+
Users of NBB banking app that was based on our white label solution. Total coverage ~4% of country population.
- banks integrated8+
8 commercial banks were connected to platform in 6 month time.
App functionality
Open banking API integration
bank accounts management
Card management
Compliance
consent management
Budgeting
native Mobile applications
regulatory reporting
financial planning
Data analytics and insights
Investment management
Multi-currency support
Peer-to-peer payment processing
Customer support
how we did it
- architecture design for domestic real-time payments through the open banking engine
domestic real-time payments
- development from scratch with on time launch9
month to launch
- core engine to its "ready-for-market" state
developed open banking
- solution has passed CBB sandbox testing process
regulation aproval
- for final product from UI/UX to Technical solution
full responsibility
- process with Regulator Bank, Commercial Bank partners & Compliance Advisors
CONSTANT INVOLVEMENT in regulatory negotiation
Technologies
we used
.Net & .Net Core
Kotlin
Swift
React
AWS
client testimonial
DashDevs delivered smoothly and on time with the app which continues to bring more value over time. Their profound fintech expertise and creative solutions added additional value.
Creation Process
Product vision
We developed a tailored vision through market research. Our team collaborated closely with the client's team to tailor the solution to the tight MENA legislation for fintech. Based on the results, we continuously refined the vision to ensure the best possible market fit.
1Product design
Once we had established a clear feature list, our team created wireframes that were specifically tailored to the chosen target audience. Our goal was to develop a concept that not only offered ease of use but would fit into the determined budget.
2architecture design
We took into consideration all the needed functionality and regulations in order to create a scalable solution. By taking into account all the benefits and drawbacks from the perspective of business, technical, compliance, and security, we suggested an adaptable solution architecture that was cost-effective and user-friendly.
3Development
Our team of 10 engineers developed a cross-platform iOS and Android app. We helped our customer secure the open banking technology, and integrate 24 banks into the solution. This was a challenge as the reliability of the application hinged on seamless compatibility with integrated services. We encountered hurdles but overall the solution ended up being non-cumbersome and highly functional.
4Maintenance & Support
Following the release, we proceeded to incorporate new features, modernize software, and work on hot-fixes based on feedback from clients.
5
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