Manama, Bahrain: - BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, continues to focus on Business Continuity Management (BCM) and drives resilience efforts by successfully achieving the ISO22301:2019 accreditation for the 3rd year in a row. The results of the ISO22301:2019 review reflects BENEFIT’s high standards in the field of BCM, where the assessor deemed the organization to be operating at the highest possible standard with 0 Non-Conformities (NCs) & 0 Opportunities for Improvement (OFIs).

The BENEFIT Company has been certified by the British Standards Institution (BSI) for the ISO 22301:2019 certification for Business Continuity Management System (BCMS) in recognition of the security and resilience BENEFIT has displayed to ensure it recovers from disruptive incidents. It is worth mentioning that BENEFIT has been the first establishment in the Kingdom of Bahrain to complete the transition to the new audit standard ISO22301:2019 in April 2021.

This achievement reaffirms the important growth stage the Company has reached. BENEFIT also recognizes that there is a growing demand for service providers with consistent and secure procedures to deliver safe and seamless services that consumers can trust. Additionally, BENEFIT continues to invest in business continuity and business resilience planning to ensure that its customers, suppliers and partners are enabled to face any unforeseen challenges. Furthermore, BENEFIT's commitment to business continuity ensures that BENEFIT provides reliable and trustworthy services with a high level of service availability to banks, partners and consumers.

BENEFIT has had yet another successful year for Business Continuity Management (BCM), with a report stating 0 Non-conformities (NCs) and 0 Opportunities for Improvement (OFIs), a true testament to BENEFIT's efforts and commitment in sustaining overall resilience.

Mr. Riyadh Almearaj, AGM Information Technology, BENEFIT, commented on this achievement “We are very proud of this achievement. This entire process has enabled us to engrain the business continuity discipline across our organization, and has allowed us to obtain a better understanding on implementing and creating a business continuity strategy with proper response tactics. These standards are quite crucial in a time where all organisations must recognize the threats and opportunities that can arise internally and externally, and know how to react to them.

He added, “With the COVID-19 pandemic, it has become increasingly clear that in order for organizations to be able to withstand and overcome future disruptions, having an effective business continuity system is a must, and that it should be based on internationally accepted standards such as ISO 22301:2019.”

Mr. Mohamed Al Alawi, Supervisor of Business Continuity Management at BENEFIT, stated, “This achievement emphasizes a maturity milestone. BENEFIT recognizes that there is an accelerated demand for consistent, secure providers to deliver secure and seamless services that consumers can trust. Furthermore, BENEFIT’s commitment to business continuity guarantees that they deliver reliable and trustworthy services with high availability to banks, partners, and consumers.”

He added, “This is reflected in the significant investment BENEFIT has made towards BC & DR, as we place a high value on operating regardless of circumstances, making BENEFIT truly resilient.”

It is worth mentioning that a total of BD 1.5 million has been invested in BC & DR (Business Continuity and Disaster Recovery) throughout the recent period. This overall figure will be used to showcase BENEFIT's ongoing BCM efforts in investing in its IT landscape/infrastructure to maintain high service availability.

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About BENEFIT

BENEFIT was established in 1997 and is licensed by the Central Bank of Bahrain (CBB) as an ancillary service provider to the Kingdom’s financial services industry. 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 across different sectors in the Kingdom of Bahrain and the Region.

BENEFIT’s range of services – supported by GCCNet in countries within the region – includes operating of Automated Teller Machines (ATM), Point of Sale (POS), GCCNet, The GCCNet Dispute Management System, Credit Reference Bureau (CRB), Telecom Bill Payment (Tele BP), Direct Debit (DD), Payment Gateway (PG), Internet Banking (IB), Bahrain Cheque Truncation System (BCTS), Amex Cards withdrawal and recently national eWallet and national eKYC Platform for the financial sectors.

For more information, please visit: https://www.benefit.bh

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