Manama, Bahrain – BENEFIT, the Kingdom’s innovator and leader in fintech and electronic financial transaction services, conducted and delivered its 2022-2024 Annual Business Strategy at the end of September with selected Kingdom financial institutions including banks from conventional retail, Islamic retail banks, retail banks and digital banks.
The meeting was chaired and chaired by Yousif AlNefaiei, Deputy Managing Director of BENEFIT, as well as by the general management of the company and representatives of the general management of each bank participating in the meeting. The meeting discussed potential collaboration opportunities with BENEFIT, while highlighting new global fintech trends to develop more innovative digital services to further uplift the financial sector and improve digital banking services for consumers in the Kingdom. and the MENA region.
The corporate strategy meeting presented and described BENEFIT’s next three-year strategy from 2022 to 2024, with a clear set of objectives for the future direction of the company. The presentation was followed by an in-depth roundtable with key players in the financial sector to gather valuable information and recommendations to integrate and integrate into its strategy to further advance the financial ecosystem. The roundtable showcased potential areas and strategies to develop and evolve digital innovations within the banking ecosystem in key areas including retail, SME products and services, risk and compliance. , customer experience and expectations in terms of banking and payment, etc.
On the occasion, Mr. AlNefaiei said: âBENEFIT is committed to achieving impressive growth in the years to come, and we appreciate the participation of industry leaders with their common thoughts and views which help to strengthen the banking sector in Bahrain.
He added: âOur mission, as BENEFIT, is to invest in innovative solutions that add value to different players in the financial sector and the industry as a whole. We are leading this front to export financial services to the region and position Bahrain as the leading hub for innovative financial services and solutions, and we will continue to realize our vision, with our highly talented team to contribute to one of the most important initiatives. in line with the Bahrain Economic Vision 2030.
It should be noted that BENEFIT follows a periodic policy to implement action plans and strategies in accordance with the latest local and international economic conditions, and to execute innovative and new initiatives that are in line with the policies of the Central Bank of Bahrain , in order to make the Kingdom of Bahrain a regional model of innovations in the fields of FinTech and digital transformation.
BENEFIT was established in 1997 and is licensed by the Central Bank of Bahrain (CBB) as an ancillary service provider for the Kingdom’s financial services sector. BENEFIT is owned by banks in Bahrain, regulated by the Central Bank of Bahrain (CBB), to provide innovative payment capabilities, information management solutions and business process outsourcing services in different sectors of the Kingdom of Bahrain and the region.
BENEFIT’s range of services – supported by GCCNet in countries of the region – includes the operation of automated teller machines (ATM), point of sale (POS), GCCNet, GCCNet dispute management system, Credit Reference Bureau (CRB), Telecommunications Bill Payment (Tele BP), Direct Debit (DD), Payment Gateway (PG), Internet Banking (IB), Bahrain Check Truncation System (BCTS), Withdrawal Amex cards and recently national eWallet and national eKYC platform for financial sectors.
For more information, please visit: https://www.benefit.bh