Tarabut acquires Vyne in advance of MENA’s regulatory changes

Open Banking platform Tarabut has announced the acquisition of Vyne, with the company aiming to scale its ability to provide more accessible and accelerated financial services.

Approved by both the Saudi Central Bank (SAMA) and the UK’s Financial Conduct Authority (FCA), the strategic acquisition is set to support Tarabut in expanding its ability to offer faster and more interconnected financial solutions across both the MENA region and globally. Officially, the deal was finalised on 1 August 2024 and intended to solidify Tarabut’s position in the industry ahead of new regulations for Payment Initiation Services in Saudi Arabia and Open Finance in the UAE.