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Tarabut Teams With FLOOSS For Faster Loan Approvals
The new Income Verification product is the first and fastest digital loan service in Bahrain.
Leading MENA Open Banking company Tarabut has announced a collaboration with Bahrain-based digital lending platform FLOOSS.
The pioneering partnership has created Bahrain’s first Open Banking-enabled digital lending service, significantly reducing loan approval times to mere minutes using Tarabut’s Income Verification solution.
Previously, loans could take up to two weeks to approve. By leveraging the latest Open Banking APIs, FLOOSS customers now enjoy a seamless lending journey with enhanced security and no longer need to submit salary certification during the application process manually.
Abdulla Almoayed, Founder and Chief Executive Officer of Tarabut, said, “We are proud to announce our latest partnership with FLOOSS, one of Bahrain’s leading lending platforms. 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, FLOOSS has implemented a customer-first solution that improves lending processing times to a few minutes and more seamlessly than any other lenders, anytime and anywhere. We are proud of the innovative work and look forward to more announcements with our partner, Tarabut, in the Kingdom of Saudi Arabia soon”.
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In Bahrain, demand for personal loans is steadily growing and now totals BD 5.7 billion or 38.2% of GDP. As Tarabut collaborates with more lenders, financial enterprises and banks across the MENA region, the payment landscape is rapidly becoming more diverse and modern. Open Banking technology is a key feature of modern financial infrastructures and helps businesses maximize revenue, reduce operational costs and enrich customer experiences.
News
Samsung Smart Glasses Teased For January, Software Reveal Imminent
According to Korean sources, the new wearable will launch alongside the Galaxy S25, with the accompanying software platform unveiled this December.
Samsung appears poised to introduce its highly anticipated smart glasses in January 2025, alongside the launch of the Galaxy S25. According to sources in Korea, the company will first reveal the accompanying software platform later this month.
As per a report from Yonhap News, Samsung’s unveiling strategy for the smart glasses echoes its approach with the Galaxy Ring earlier this year. The January showcase won’t constitute a full product launch but will likely feature teaser visuals at the Galaxy S25 event. A more detailed rollout could follow in subsequent months.
Just in: Samsung is set to unveil a prototype of its augmented reality (AR) glasses, currently in development, during the Galaxy S25 Unpacked event early next year, likely in the form of videos or images.
Additionally, prior to revealing the prototype, Samsung plans to introduce…
— Jukanlosreve (@Jukanlosreve) December 3, 2024
The Galaxy Ring, for example, debuted in January via a short presentation during Samsung’s Unpacked event. The full product unveiling came later at MWC in February, and the final release followed in July. Samsung seems to be adopting a similar phased approach with its smart glasses, which are expected to hit the market in the third quarter of 2025.
A Collaborative Software Effort
Samsung’s partnership with Google has played a key role in developing the smart glasses’ software. This collaboration was first announced in February 2023, with the device set to run on an Android-based platform. In July, the companies reiterated their plans to deliver an extended reality (XR) platform by the end of the year. The software specifics for the XR device are expected to be unveiled before the end of December.
Reports suggest that the smart glasses will resemble Ray-Ban Meta smart glasses in functionality. They won’t include a display but will weigh approximately 50 grams, emphasizing a lightweight, user-friendly design.
Feature Set And Compatibility
The glasses are rumored to integrate Google’s Gemini technology, alongside features like gesture recognition and potential payment capabilities. Samsung aims to create a seamless user experience by integrating the glasses with its broader Galaxy ecosystem, starting with the Galaxy S25, slated for release on January 22.
Samsung Smart Glasses Teased For January, Software Reveal Imminent
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