Powering the very first open banking use case for lending in Bahrain

We've partnered with FLOOSS, Bahrain's first instant loan service. Through this partnership, we aim to optimise their application processes, allowing consumers in the region to apply and get access to credit quickly and securely, delivering seamless experiences and boosting operational efficiency. 

Together, we are transforming the lending landscape by making lending more accessible, powering the first open banking use case for lending in Bahrain, and enabling individuals to access loans instantly and effortlessly. 


FLOOSS is the first loan app in Bahrain, licensed by the Central Bank of Bahrain, providing digital loans without the hassle of paperwork and lengthy processes, prioritising accessibility and efficiency for individuals seeking a straightforward borrowing experience. By prioritising digital loans, they offer consumers a user-friendly platform for convenient, anytime personal loan applications. 


The Challenge

FLOOSS faced substantial challenges due to limited access to financial data. Necessitating manual submission of documents like proof of income and employment led to friction, drop-offs, and up to 2-week processing times before users had access to funds they’ve applied for.   

Additionally, the burden of manually reviewing these documents added to the inefficiencies, spending around 20 to 30 minutes reviewing each set of manual documentation for loan applications. Overcoming these obstacles became imperative for FLOOSS to streamline operations, reduce processing times, and enhance the overall customer experience.


The Solution

Leveraging our Income Verification product, FLOOSS can quickly and securely determine a user's salary without the hassle of manual document uploads, reducing their processing times from 2 weeks to just 6 minutes. By allowing customers to connect their bank account(s) and share their transaction data via our APIs, applicants can enjoy a faster and more streamlined application and approval process.  

With real-time access to secure and comprehensive financial data, FLOOSS gains valuable insights into its customers' financial position, enabling them to make quicker, safer, and more accurate decisions explicitly tailored to the individual's needs. 

Traditionally, consumers can wait 1-4 weeks before accessing loans they've applied for. Through our partnership with FLOOSS, consumers can now secure a loan approval in just six minutes, eliminating lengthy approval processes and providing immediate access to funds.   

Abdulla Almoayed, Founder and Chief Executive Officer of Tarabut Gateway, said:  

“We are proud to announce our latest partnership with FLOOSS, one of Bahrain’s leading fintechs backed by Payment International Enterprise. Together, we are promoting financial inclusion and developing Bahrain’s financial infrastructure in line with the country’s plans for a robust financial ecosystem. Everyone should have access to affordable and efficient lending facilities, and this partnership is a crucial step towards that goal.” 

Fawaz Ghazal, Chief Executive Officer of FLOOSS, said:  

“The customer lending experience and journey must be reimagined; customers expect more from their financial service providers. Working with the team at Tarabut Gateway, FLOOSS has implemented a customer-first solution that improves lending processing times to a few seconds and more seamlessly than any other lenders, anytime and anywhere. We are proud of the innovative works and look forward to more announcements with our partners, Tarabut Gateway, in the Kingdom of Saudi Arabia soon.” 

Powering the Future of Lending

Our partnership with FLOOSS represents a step forward for Bahrain's financial services sector. By joining forces, we aim to drive positive change and empower individuals in their financial journeys. Through this collaboration, we strive to enhance financial inclusion, simplify access to credit, and contribute to the economic growth of Bahrain. Our shared vision is to create a more inclusive and robust financial ecosystem that empowers individuals, fuels entrepreneurship, and strengthens the economy. 

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