Elm, a leading digital solutions company, has signed a Memorandum of Understanding with the Bahrain Electronic Network for Financial Transactions (BENEFIT), the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service.
The agreement seeks to explore collaborative opportunities between the two parties in several key areas, including the development of shared digital services, enabling digital onboarding for financial services, and creating innovative solutions that drive the digital transformation and empowerment of the financial sector.
The MoU was signed by Mr. Majed Al Ghamdi, Executive Vice President of Government Digital Products at Elm, and Mr. Abdulwahed AlJanahi, Chief Executive of BENEFIT.
Majed bin Saad Al Arifi, Official Spokesperson and Executive Vice President of Marketing at Elm, stated that this partnership marks a continuation of Elm’s efforts to strengthen its regional presence and build strategic collaborations with leading entities in the field of FinTech. Moreover, this collaboration with BENEFIT exemplifies the synergy between both entities’ expertise in advancing secure digital financial services, paving the way for innovative solutions that serve individuals and enterprises alike while reinforcing Elm’s position as a trusted digital enabler in the region.
Abdulwahed AlJanahi affirmed that through this partnership, BENEFIT aims to broaden its network of regional and international collaborations in the fields of FinTech and digital services, noting that the integration with Elm will empower both organizations to develop efficient and reliable solutions that enhance the financial sector and advance digital inclusion throughout the region.
BENEFIT stands as one of the key institutions contributing to the advancement of Bahrain’s FinTech ecosystem, driving digital efficiency and facilitating service integration between financial institutions and government sectors.
Furthermore, this collaboration reinforces Elm’s ongoing commitment to building high-impact regional partnerships with leading digital service providers, promoting knowledge exchange, and fostering innovation across regional markets.
