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Tarabut acquires Servable to add financial AI capabilities
Yahoo Finance· 2026-02-02 12:33
Core Insights - Tarabut has acquired Servable.dev, an AI engineering company, to enhance its transition from open banking infrastructure to an AI-integrated financial services platform [1][5] - The integration of Servable's AI functionalities aims to improve real-time decision-making tools for banks and fintech firms using Tarabut's platform [1][2] Group 1: Acquisition Details - The acquisition is intended to support the development of Tarabut's platform by incorporating AI capabilities [1] - Servable's technology will be integrated into Tarabut's platform for applications such as income verification, credit risk assessment, fraud detection, and compliance automation [2][5] Group 2: Technology Features - Servable offers features like a "Data Agent" for privacy-focused data creation, an "AI Lab" for model training, and an "AI Gateway" for deploying models in live environments [4] - The technology aims to help financial institutions implement auditable and explainable AI systems at scale [4] Group 3: Strategic Alignment - The addition of Servable's technology aligns with Tarabut's strategy of combining open finance services, instant payments, and AI capabilities under a single regulatory framework [5] - Tarabut is expanding into markets such as Saudi Arabia and the UAE, indicating growth ambitions [5][6] Group 4: Leadership Perspectives - Servable's CEO emphasized the importance of integrating AI technology into platforms that serve regulated institutions without compromising security [3] - Tarabut's CEO highlighted the goal of building world-class financial infrastructure in the region and enhancing access to finance through AI integration [6]