Benefit holds annual corporate strategy 2022-2024 meeting with partners in the financial sector

The meeting was led and chaired by Yousif AlNefaiei, Deputy Chief Executive at BENEFIT, along with the company's senior management and Executive Management representatives from each bank in the meeting

Benefit holds annual corporate strategynbsp;2022-2024 meeting with partners in the financial sector

Manama, Bahrain -  BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service conducted and held their annual corporate strategy 2022-2024 end of September along with selected financial institutions in the Kingdom comprising conventional retail banks, Islamic retail banks, international retail banks and digital banks.

The meeting was led and chaired by Yousif AlNefaiei, Deputy Chief Executive at BENEFIT, along with the company’s senior management and Executive Management representatives from each bank 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 elevate the financial industry, and enhance digital banking services for consumers in the Kingdom and MENA.

The corporate strategy meeting presented and outlined BENEFIT’s upcoming 3-year strategy from 2022 - 2024, with a clear set of goals for the company’s direction for the future. The presentation was followed by an in-depth roundtable with key players in the financial industry to gather the valuable insights and recommendations to embed and incorporate in 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 when it comes to banking and payments and more.

On the occasion, Mr. AlNefaiei said: “BENEFIT is committed to achieving impressive growth in the coming years, and we value the participation of the industry leaders with their shared thoughts and views that go towards strengthening the banking industry in Bahrain.”

He added: “Our mission, as BENEFIT, is to invest in innovative solutions that add value to the various stakeholders within 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 achieve our vision, along with our highly talented team to contribute to one of the Kingdom's most important initiatives in line with Bahrain’s Economic Vision 2030.”

It is worth noting 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 for innovations in the fields if FinTech and digital transformation.



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.

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