BENEFIT Showcases Cutting-Edge Digital Financial Solutions at 'Innovation in Social Housing' Summit

Biz Bahrain

25-04-2025

BENEFIT, the Kingdom's innovator and leading company in Fintech and electronic financial transactions service, participated in the 'Innovation in Social Housing Sector' Summit, held under the patronage of His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince and Prime Minister. Under the theme 'Towards Innovative and Sustainable Housing Solutions,' the event was held at Exhibition World Bahrain, serving as a platform to explore transformative and sustainable approaches to social housing. During the conference, BENEFIT underscored its leading role in advancing integrated digital financial solutions tailored to the needs of the housing and real estate sectors. The company showcased exemplary case studies stemming from its strategic partnerships with both public and private sector entities, illustrating its financial services as key enablers of financial innovation, streamlining home financing processes, enabling secure and efficient digital payment channels, and simplifying lending procedures for citizens and residents across the Kingdom. As part of the exhibition held alongside the summit, BENEFIT engaged directly with visitors at its dedicated stand, providing information and guidance on its credit bureau services. Attendees were offered on-the-spot access to their personal credit reports through the Bahrain Credit Bureau, a BENEFIT-operated service that has been embedded within the housing application requirements to enhance the efficiency and timeline of the evaluation process. BENEFIT emphasized that its collaborative efforts with the Ministry of Housing and Urban Planning and the Eskan Bank to fetch applicants' credit report data have significantly simplified procedures for the Ministry's housing programs. This integration ensures faster, more efficient delivery of support to eligible beneficiaries. In addition, BENEFIT leveraged this participation to raise awareness about its flagship app, BenefitPay, and the comprehensive range of services it offers. A particular highlight was the Fawateer feature, which enables users to seamlessly view and pay bills electronically. Mr. Abdulwahed AlJanahi, Chief Executive at BENEFIT commented, 'We are proud to contribute to this important national initiative, which reflects our continued dedication to empowering individuals through forward-thinking financial solutions that align with the objectives of social housing programmes. Our focus remains on delivering secure, accessible, and practical digital tools that streamline financial processes and enrich the overall experience of programme beneficiaries.'
Mr. AlJanahi affirmed that the remarkable turnout at BENEFIT's stand reflects the growing public interest in innovative digital financial solutions and expressed appreciation for the opportunity to participate in such a significant event, which serves as a valuable platform to engage with citizens and key stakeholders within the housing sector. This participation reinforces BENEFIT's pivotal role in supporting Bahrain's national digital transformation agenda by advancing secure, integrated payment ecosystems that contribute to a cashless society and enhance the quality of life for all.