Benefit, Bahrain's innovator and leading company in fintech and electronic financial transactions service, has presented its three-year strategy and roadmap 2022 to 2024. 

 

The plan was presented to Bahrain Association of Banks (BAB) specialized committee members, as well as a large number of financial and banking institutions’ members at a meeting held in cooperation with BAB and under the supervision of the Central Bank of Bahrain (CBB).

 

The three-year strategy was presented by Yousif AlNefaie, Deputy Chief Executive at Benefit, followed by an open floor discussion where committee members and financial sector representatives were invited to participate in the discussion and provide valuable recommendations to embed within its strategy to further enhance the financial industry, and provide value to the community as a whole. 

 

The meeting is consistent with Benefit's dedication to their digitisation agenda, as well as the CBB's initiatives to accelerate digital transformation in the Kingdom and launch innovative financial services in accordance with the Bahrain Economic Vision 2030. Furthermore, such meetings strive to open partnerships by sharing significant success achieved by Benefit throughout the years, said a statement.

 

Benefit’s roadmap for the next three years comes in line with its four core strategic pillars including advancing payment infrastructure to enable new payment schemes, empowering access to credit, support digitization of the government and key sectors, and internationalisation to develop key alliances and partnerships across borders. 

 

Benefit presented strategic initiatives to achieve the outlined goals under these pillars, as well as a detailed roadmap for each project to be implemented within the timeline. 

 

AlNefaiei said: “Benefit is committed to continually developing and expanding its services and we aim to achieve substantial growth in the next few years. This three-year strategy will play a crucial role in helping us accomplish these objectives."

 

He added: "The input from the attendees was very valuable and will be taken into consideration for Benefit's direction in the coming years. These contributions are important to Benefit and to the financial sector as a whole, and it comes as part of our ongoing aim to boost Bahrain’s position as a leading hub for innovative financial services and solutions." - TradeArabia News Service