Qarar
Qarar is a MENA-focused credit risk analytics and decision management software company, serving retail banks, financial institutions, and telcos in Saudi Arabia, the UAE, Kuwait, and Pakistan through its SmartSuite platform, AI-powered onboarding, and SIMAH-aligned regulatory compliance solutions.
- Company typePrivate
- Founded2013
- HeadquartersDubai, United Arab Emirates
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What Qarar does
Qarar is a Middle East and North Africa-focused credit risk analytics and decision management software company, headquartered in Riyadh, Saudi Arabia with a regional office in Dubai Internet City. Founded in 2013 as a wholly owned subsidiary of SIMAH (the Saudi Credit Bureau), the company serves retail banks, consumer finance firms, telcos, and SME lenders across Saudi Arabia, the UAE, Kuwait, and Pakistan. Named enterprise clients include Habib Bank Limited (HBL), Gulf Bank Kuwait, Boubyan Bank, Banque Saudi Fransi, Faysal Bank, and Zain KSA.
The company's core offering is SmartSuite, a proprietary four-product platform covering the full consumer credit lifecycle: DecisionSmart (strategic decisioning engine, deployable on-premise or hosted with a pay-as-you-go option), AppSmart (onboarding and multi-scorecard integration), CollectSmart (collections and recovery management with real-time work status monitoring), and BureauSmart (real-time and bulk credit bureau data extraction). Supplementary products include OnboardSmart (AI-based digital onboarding and KYC), BridgeSmart (a SIMAH Affordability API integration interface), Portfolio360 (200+ bureau behavior measures for portfolio analysis), and Affordability Models supporting SAMA and CBUAE compliance. The architecture is configurable for Arabic and local market needs, supports cloud and on-premise deployment, and integrates with core banking systems and bureau data sources.
Qarar generates revenue through a mix of software licensing and hosted subscriptions (SmartSuite), professional services for scorecard development, validation, monitoring, and predictive modelling (QMS), and a publicly priced per-assessment financial scoring service for SMEs (SAR 1,000 to SAR 40,000). The go-to-market is enterprise field sales targeting C-suite decision makers, augmented by an ecosystem of channel partners including SIMAH, DataCheck (Pakistan), Biz2X (SME lending JV), Tarabut Gateway (open banking), Modefinance (Kafalah scorecard project), and BankersLab (training). The company has been self-sustainable since inception with no external funding, and underwent a leadership transition in 2024 with Humaid Mudhaffr (a founding team member representing SIMAH) appointed CEO and Nicolaas Westhuizen returning as COO.
Qarar firmographics
Firmographics- Name
- Qarar
- Legal name
- Qarar Consulting
- Website
- https://qarar.org
- Company type
- Private
- Founded year
- 2013
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Qarar is a MENA-focused credit risk analytics and decision management software company, serving retail banks, financial institutions, and telcos in Saudi Arabia, the UAE, Kuwait, and Pakistan through its SmartSuite platform, AI-powered onboarding, and SIMAH-aligned regulatory compliance solutions.
- Ownership category
- akta.pro rank
Qarar industry classification
Industry- Product category
- Credit Risk Analytics Software
- NAICS
- Other Activities Related to Credit Intermediation (52239), Activities Related to Credit Intermediation (5223), Credit Bureaus (561450)
- SIC
- Services-Consumer Credit Reporting, Collection Agencies (7320)
- akta.pro primary industry
- Credit Education, Monitoring & Consumer Credit Management Tools (FSAKAKAJ)
- akta.pro secondary industries
- Credit Bureaus & Consumer Credit Reporting Agencies (FSAKAKAA), Alternative / Non-Traditional Credit Data Providers (FSAKAKAB)
Keywords
Where Qarar is headquartered
LocationHeadquarters
- HQ city
- Dubai
- HQ country
- United Arab Emirates
- HQ region
- Middle East
Offices2 records
Markets served
Qarar business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- Consulting & Advisory Services: Advisory services providing tailored advice from consultants for predicting consumer behaviour and improving decision accuracy. Includes Healthchecks, RiskMentor services, and Strategy Implementation.
- Analytics Solutions: Bespoke data analytics services including scorecard development, validation, monitoring, and predictive modelling. Services include fully-loaded profitability models, fraud rules optimization, portfolio management strategies.
- Software Licensing & Subscriptions: SmartSuite risk management software (DecisionSmart, AppSmart, CollectSmart, BureauSmart) offered as on-premise or hosted solutions. DecisionSmart provided as scalable 'pay-as-you-go' hosted solution.
- Financial Scoring Services: Financial scoring service for SME credit assessment, priced based on company revenue size (SAR 1,000 to SAR 40,000 per assessment).
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Pay-as-you-go | Micro (Revenue 0-3M SAR) |
| Unit Pricing | Pay-as-you-go | Micro-Small (Revenue 3-10M SAR) |
| Unit Pricing | Pay-as-you-go | Small (Revenue 10-25M SAR) |
| Unit Pricing | Pay-as-you-go | Small-Medium (Revenue 25-50M SAR) |
| Unit Pricing | Pay-as-you-go | Medium (Revenue 50-100M SAR) |
| Unit Pricing | Pay-as-you-go | Medium-Large (Revenue 100-1000M SAR) |
| Unit Pricing | Pay-as-you-go | Large (Revenue >1000M SAR) |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels8 records
Qarar product offering
Product offeringCore offering
Qarar provides credit risk analytics and decision management software for retail banks, consumer finance companies, and financial institutions across the Middle East, North Africa, and Pakistan. Its SmartSuite platform covers the full customer credit lifecycle, from onboarding through collections, with complementary solutions for digital onboarding (OnboardSmart), bureau integration (BridgeSmart), and credit bureau analytics (Portfolio360). The company also delivers modelling, scorecard development, affordability assessment, and advisory services.
Product overview
Qarar offers a unified platform architecture called SmartSuite, comprising four core software products (DecisionSmart, AppSmart, CollectSmart, BureauSmart) that automate data-driven decision making across the entire customer credit lifecycle from acquisition to collections. The portfolio includes supplementary solutions like OnboardSmart for digital onboarding and BridgeSmart for SIMAH integration. The company also provides analytics solutions (Bespoke Data Analytics, Scorecard Development, Scorecard Validation & Monitoring), advisory services (Healthchecks, Training, RiskMentor), and credit bureau data-driven solutions. All products are designed for the Middle East and North Africa retail banking and consumer credit markets.
Differentiator
Problem solved
Functional benefit
Products and services
- SmartSuite Comprehensive risk management software platform supporting the entire customer credit lifecycle through automated data-driven decision making, integrating four core products (DecisionSmart, AppSmart, CollectSmart, BureauSmart) to streamline processes and increase efficiency across customer acquisition, account management, and collections.
- DecisionSmart Market-leading strategic decisioning software providing real-time decision outputs to manage applications and decisions across the customer lifecycle; features financial risk modelling tools, a graphical user interface for business users, and supports both on-premise and hosted deployment including a pay-as-you-go hosted option.
- AppSmart Platform built on industry best practice software for managing new customer onboarding and accounts; integrates multiple scorecards to streamline customer acquisition with consistent, real-time decision making.
- CollectSmart Collections and recovery management solution allowing lenders to set loan recovery strategies via a graphic interface, with customer segmentation capabilities for differentiated collection actions and real-time work status monitoring with MIS reporting.
- BureauSmart Online data archive for extracting credit bureau and third-party data in real-time or bulk acquisition modes; supports LAN/WAN, VM, and cloud-based deployments.
- OnboardSmart Digital customer onboarding solution enabling remote customer acquisition through AI-powered identity verification and KYC compliance, allowing customers to open accounts or apply for lending products within minutes using mobile devices.
- BridgeSmart Proprietary interface software connecting banks and finance companies' originations to SIMAH (Saudi Credit Bureau) for rapid integration of Affordability data, supporting all three main types of Affordability API calls with general cache features.
- Portfolio360 Credit bureau data-driven solution incorporating more than 200 credit bureau behaviour-based measures and indices for each consumer, used for enhanced portfolio analysis and customer segmentation.
- Qarar Modelling Services (QMS) Best practice model management service throughout the credit risk scorecard lifecycle, covering data preparation, modelling, deployment, strategy implementation, and monitoring, using advanced statistical methods and machine learning techniques.
- Affordability Models Affordability assessment models that evaluate borrower income, existing financial obligations, and lifestyle expenditures; supports compliance with CBKSA regulations in Saudi Arabia and CBUAE guidelines in UAE, providing credible intervals and expected estimates of lifestyle expenditures.
Quantifiable outcome
- 84% increase in qualifying accounts compared to historic limit increase selection practices
- +4 more outcomes
Companies that use Qarar
Customer profileNamed customers9 records
Segments3 records
Ideal customer profiles2 records
Qarar technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
AI capability8 records
Feature10 records
Qarar partnerships and signals
Strategic signalPartnerships
Twelve partnerships are on record, tiered core, flagship, strategic, project and advisory.
- Faysal Bank and DataCheckcorePartnership for DecisionSmart hosted decision engine powering 'pay-as-you-go' instant loan solution in Pakistan. Faysal Bank partnered with DataCheck (Pakistan's premier credit bureau) for this industry-first hosted decision engine implementation.
- Biz2XflagshipJoint venture to launch the first cloud-based SME lending platform in Saudi Arabia. The partnership aims to bridge the financing gap for SMEs and contribute to Saudi Vision 2030 goal of expanding SME contribution to 22% of GDP. The platform leverages Biz2X's award-winning technology with Qarar's regional expertise.
- SIMAH and Modefinance (Kafalah Agreement)coreValue-added services agreement with Kafalah (SME Government Credit Guarantee Program) to implement credit scorecard project and company evaluation systems. SIMAH represented by CEO Swaied Al-Zahrani, with Qarar providing credit risk assessment expertise.
- Tarabut GatewaystrategicPartnership to revolutionise credit scoring and lending in the Middle East through integration of open banking and credit assessment solutions.
- PMIC (Prime International Credit Services)strategicPartnership to develop and implement credit scoring models, enhancing credit risk assessment capabilities for the region.
- DataCheckcoreStrategic partnership to transform credit decisioning in Pakistan through integration of Qarar's DecisionSmart with DataCheck's credit bureau infrastructure.
- Credolab and OraanstrategicIndustry partnerships for alternative credit scoring leveraging mobile device data and digital lending solutions targeting youth and credit-invisible populations.
- Zain KSAprojectSIMAH and Qarar partnership to deliver smart collection solution to Zain KSA telecommunications company, extending credit risk solutions beyond traditional banking.
- BankersLabstrategicTraining partnership for simulation courses, course material, activities, case studies, and mobile learning applications in analytics, portfolio management, and credit risk for retail banking professionals.
- Banque Saudi FransiprojectBanque Saudi Fransi chose SIMAH's hosted decision engine (powered by Qarar) for launching Buy Now Pay Later (BNPL) product, enabling digital lending capabilities.
- A1AI (founded by Matthew Gardiner)advisoryConsulting partnership for new centres of gravity for financial institutions in embedded finance initiatives.
- SIMAH (Parent Company)coreQarar is a wholly owned subsidiary of SIMAH (Saudi Credit Bureau). Qarar's DecisionSmart is licensed to DataCheck and other partners. SIMAH provides infrastructure and regulatory relationships.
Scale indicators4 records
Recent moves8 records
Expansion highlights7 records
Qarar competitors and assessment
Company assessmentBroad incumbents
- Experian: Global credit bureau and analytics incumbent offering credit scoring, decisioning, and consumer credit data products. Directly competes with Qarar's SmartSuite; notably, Qarar's COO previously served as Director of Global Consulting Practice at Experian, underscoring direct product overlap.
- FICO: Industry-standard credit scoring and decision management platform (FICO Score, FICO Platform). Competes head-to-head with DecisionSmart in the credit decisioning category; Qarar's COO led major client engagements including a Collections & Recovery Transformation program at FICO.
- TransUnion: Global credit bureau with consumer and commercial credit reporting, analytics, and decisioning capabilities. Competes with Qarar in credit data and risk analytics for retail banking, including MENA exposure.
- Equifax: Global credit bureau and analytics provider serving lenders with credit reports, scores, and decisioning tools. Comparable to Qarar's SmartSuite + BureauSmart combination at global scale.
Direct peers
- Provenir: AI-powered risk decisioning platform serving banks and fintechs with onboarding, fraud, and credit decisioning. Closely comparable to Qarar's SmartSuite architecture and target customers (lenders).
- DataCheck: Pakistan's premier credit bureau and Qarar's local partner for the Faysal Bank instant-loan launch. Comparable in bureau-data services and local credit decisioning integration.
- CRIF: Italy-headquartered credit bureau and decisioning solutions provider with strong presence across EMEA and emerging markets. Highly comparable business model to Qarar's integrated bureau-data + decisioning stack.
Emerging players
- Zest AI: AI-driven credit underwriting specialist using machine learning for alternative and inclusive lending. Comparable to Qarar's scorecard development and alternative credit scoring capabilities, though focused on US market.
- Tarabut Gateway: MENA's leading open banking infrastructure provider partnered with Qarar for credit scoring and lending integration. Comparable as a regional emerging player enabling credit decisioning through alternative data access.
- Biz2X: Cloud-based SME lending platform partnered with Qarar to launch the first cloud SME lending platform in Saudi Arabia. Comparable as an emerging lending-decisioning platform targeting MENA SME credit.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Qarar social profiles
Digital presenceQarar financial estimates
Financial estimateRevenue estimate
Valuation estimate
Qarar leadership team
Management profileNumber of profiles
Profiles4 records
Qarar funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Qarar M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Qarar
What does Qarar do?
Qarar provides credit risk analytics and decision management software for retail banks, consumer finance companies, and financial institutions across the Middle East, North Africa, and Pakistan. Its SmartSuite platform covers the full customer credit lifecycle, from onboarding through collections, with complementary solutions for digital onboarding (OnboardSmart), bureau integration (BridgeSmart), and credit bureau analytics (Portfolio360). The company also delivers modelling, scorecard development, affordability assessment, and advisory services.
Is Qarar a public or private company?
Qarar is a private company. It is classified as corporate owned and is currently operating.
When was Qarar founded?
Qarar was founded in 2013. It employs 11 to 50 people.
Where is Qarar based?
Qarar is headquartered in Dubai, United Arab Emirates, in the Middle East region.
How does Qarar make money?
Four revenue lines are on record. Consulting & Advisory Services are the primary driver. The others are analytics Solutions, software Licensing & Subscriptions and financial Scoring Services.
Who are Qarar's main competitors?
Broad incumbents on record are Experian, FICO, TransUnion and Equifax. Direct peers are Provenir, DataCheck and CRIF. Emerging players are Zest AI, Tarabut Gateway and Biz2X.
Does Qarar have an API?
Yes. Qarar offers API-based services including the Affordability Service developed as an API by SIMAH in accordance with SAMA's directive. The Affordability API helps lenders calculate a customer's monthly living expenses and determine affordability for additional credit obligations (DBR). The company also provides Open Banking flyer documentation and integrates with third-party data sources through API connections for credit decisioning purposes.
What industry is Qarar in?
Qarar's product category is Credit Risk Analytics Software. Its primary akta.pro industry code is FSAKAKAJ, Credit Education, Monitoring & Consumer Credit Management Tools, with a secondary code of FSAKAKAA, Credit Bureaus & Consumer Credit Reporting Agencies. Its NAICS code is 52239 and its SIC code is 7320.