Bahrain – October 8, 2024: BENEFIT, the Kingdom’s fintech leader, has partnered with Zphin and Atyaf eSolutions to launch Bahrain’s first Consumer Lending and Insurance Marketplace. This platform, integrated into the BenefitPay super app, will enhance access to financial products such as consumer loans, car insurance, and travel insurance by utilizing open banking infrastructure.
The initiative aims to serve the entire bankable population, including the unbanked and underbanked, using modern underwriting methods that offer greater transparency and competitive options.
Yousif Alnefaie, Deputy Chief Executive of BENEFIT, emphasized that this partnership will redefine financial access in Bahrain, aligning with the country’s vision for a digitally advanced economy. Ubaydli Ubaydli, Chairman of Atyaf eSolutions, noted the project’s alignment with Bahrain’s digital transformation goals, reinforcing their commitment to delivering innovative financial solutions.
Yashish Dahiya, co-founder of PB Fintech, expressed excitement over the collaboration, highlighting the shared vision of creating a more accessible financial ecosystem. Neeraj Gupta, CEO of Zphin, stated that this partnership sets a new benchmark for financial and insurance services in Bahrain, enhancing the ecosystem for both providers and users.
This collaboration represents a significant step toward modernizing Bahrain’s financial services infrastructure, fostering consumer trust, and ensuring financial inclusivity.
