Tarabut Expands Offerings with Acquisition of AI Engineering Firm Servable.dev
Tarabut, a regulated platform focused on open banking solutions, has officially acquired Servable.dev, an AI engineering company based in Bahrain. This strategic move signifies a significant step towards integrating advanced AI capabilities into Tarabut’s existing offerings.
The primary objective of this acquisition is to evolve Tarabut’s current open banking infrastructure into a sophisticated AI-enhanced financial services platform. By leveraging Servable.dev’s expertise, Tarabut aims to provide banks and fintech companies with cutting-edge real-time decision-making tools powered by AI.
Through this partnership, Tarabut will integrate Servable’s AI capabilities directly into its platform. This integration is expected to enhance various applications, including income verification, credit risk assessments, fraud detection, compliance automation, and the development of personalized financial products.
Moreover, the integration process will adhere strictly to governance, data protection, and operational monitoring guidelines, ensuring that the AI systems employed are both secure and compliant.
Mohamed Alderazi, the CEO and founder of Servable, expressed his enthusiasm regarding the merger, stating, “Servable was designed to help regulated institutions transition from AI experimentation to tangible results without compromising security or governance. Joining forces with Tarabut allows our technology—including synthetic data and LLM-based agents—to be seamlessly integrated into the platforms that serve the region’s financial sectors.”
Servable.dev’s platform, designed specifically for highly regulated industries, offers several key features: a “Data Agent” for creating privacy-compliant datasets, an “AI Lab” for model training and evaluation utilizing traditional and extended language models, and an “AI Gateway” for deploying and monitoring AI in real-world environments.
The technology aims to empower financial institutions to implement verifiable and explainable AI systems at scale. Current applications of Servable’s platform include automating financial reporting and enhancing customer engagement tools, ultimately creating a more efficient user experience for financial service providers.
With this acquisition, Tarabut reaffirmed its commitment to blending open financial services, immediate payments, and AI abilities within a single, regulated framework. This deal coincides with the company’s efforts to expand into markets like Saudi Arabia and the United Arab Emirates.
Abdulla Almoayed, CEO and founder of Tarabut, stated, “Tarabut was founded in Bahrain, and our ambition has always been to establish world-class financial infrastructure for the region. Integrating Servable’s technology into our group enhances our capacity to help banks offer easier, faster, and more secure access to financial services at scale.”
To further bolster its market presence, Tarabut recently established its regional headquarters in Riyadh, setting the stage for future growth in the competitive fintech landscape.