Manama, Bahrain - After 24 years, BENEFIT; The kingdom’s leading regional player in electronic financial transactions and FinTech solutions, unveiled their new brand visual identity to reflect the company’s ongoing evolution and its vision to shape the future of society through innovative digital solutions. The new brand was launched at a press conference on Sunday morning, at BENEFIT’s new headquarters, in the presence of their employees and esteemed members of the media.
For the past 24 years, BENEFIT has unlocked vast opportunities by powering effortless payment solutions for all individuals and businesses in the Kingdom, and has created a success story for Bahrain within the financial technology domain. The new re-branding marks a new BENEFIT both inside the company and out; and it is a testament to BENEFIT’s core mission and role, which is to develop cutting-edge business and lifestyle solutions that are essential to everyday life. The new brand narrative ‘Pulse of Bahrain’ builds on BENEFIT’s vision, which is to shape the future of society, being the foundation of life and the pulse that energises the community.
Since their establishment in 1997, BENEFIT has achieved numerous milestones followed by their recent announcement of operating MENA’s first national electronic cheque system, in addition to also becoming the first entity in the Kingdom to obtain a license for trust services and e-signature from the TRA, and more. BENEFIT has also contributed in unlocking opportunities and fostering Bahrain’s future generation of entrepreneurs by introducing entrepreneurial skills, in line with Bahrain’s vision 2030.
During his opening speech at the press conference, CE Abdulwahed AlJanahi stated: “This marks an important milestone in our journey, and we want everyone to be part of our transformation. Our value proposition is to offer trusted and innovative solutions that make life easier, smarter and more efficient for business and consumers. We wanted a brand that reflects this message within the Kingdom. Our original mark has played a role that we value during the past years, and today. Moving the new brand forward, we are continuing our journey that reflects our vision of the future, which is to be indispensable, innovative, empowering and universal.
He added, “We would also like to express our appreciation and thanks to the Central Bank of Bahrain (CBB) for their ongoing support throughout the years and for being proactive enablers of our digital transformation journey. Behind our new look, we are still the same company with our talented team, dedicated to providing the Bahraini society with solutions for their future and wellbeing. We are tremendously proud of the work we perform at BENEFIT and grateful to our team, partners in the financial sector and others, stakeholders, clients, and media that have supported us in getting to where we are now.”
Recent major announcements for BENEFIT include the recently launched remittance service feature as part of its BenefitPay service, which will enable all app users to make international money transfers. Earlier this month, BENEFIT also announced the eCheque service, the World’s First National eCheque System. Furthermore, BENEFIT has a diversified portfolio of products including the financial network connectivity, ATM network, POS devices, BenefitPay; the national e-wallet, eKYC service; the first of its kind in the region, covering the entire financial sector. BENEFIT has won many prominent local and international awards such as the e-Government Excellence Award 2021 and the Best Smart Application Award 2021 and many other awards.
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 – include 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),Bahrain Cheque Truncation System (BCTS), Amex Cards withdrawal , national eWallet and national eKYC Platform for the financial sectors.
© Press Release 2021