UAE-based Open Finance provider Spare has partnered with Tabadulat to integrate Pay-by-Bank funding into the brokerage’s investment platform.
The integration will allow investors to transfer money between their bank and investment accounts through regulated account-to-account payment rails, replacing traditional card-based funding. According to the announcement, the service supports near real-time deposits and withdrawals while helping reduce payment costs for Tabadulat and its customers.
Spare’s infrastructure also verifies that the bank account used for deposits and withdrawals matches the customer’s verified identity. The company said this can help reduce fraud risks and support requirements around verified sources of funds. Its platform enables financial institutions and fintechs to initiate account-to-account payments through a single API.
Tabadulat is regulated by the Financial Services Regulatory Authority of Abu Dhabi Global Market and offers Shariah-compliant investment and savings products across the GCC. The company was founded in 2024 by Samy Mohamad, Ali Abdulkadir Ali and Ahmed Said.
The partnership comes as account-to-account payments gain traction in the UAE. The announcement, citing Mastercard’s New Payments Index, said 83% of UAE consumers using such payments had maintained or increased their usage over the previous year.
Source: Zawya
