BENEFIT PARTNERS WITH CANCER WARRIOR CLUB SOCIETY FOR A CINEMA DAY OUT WITH CHILDREN PATIENTS

BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has recently partnered with the Cancer Warrior Club for an initiative that was organized where BENEFIT employees took young cancer patients to the cinema for a movie day out at Oasis Mall Cinema – Juffair, where the participating children and their families expressed their happiness with this humanitarian initiative, which is derived from the values of the interrelated Bahraini society.

 

This is inline with one of BENEFIT’s main values that comes under Responsibility to support and give back to society. The initiative is a key step in BENEFIT maximizing its contributions to social responsibility through meaningful corporate initiatives that foster a sense of community and encourage a healthy work culture.

This campaign follows other initiatives by BENEFIT to help the local community, such as the “Smile” project, geared towards supporting children with cancer through BenefitPay donations, as well as their generous donations towards individuals afflicted by COVID-19.

Adel AlKooheji, Senior Manager PR & Corporate Communications at BENEFIT, commented on the initiative, “We are proud of all the humanitarian initiatives, especially supporting the Cancer Warrior Club, as it is in line with BENEFIT’s values and its constant strive to provide impactful experiences to individuals from all walks of life in all of their endeavors. This initiative is part of BENEFIT’s desire to expand its social responsibility to our local community and promote such purposeful associations. We look forward to supporting more important initiatives in our community and transforming this as part of the culture around our employees as well.”

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BENEFIT REACHES TOTAL VALUE OF 12.5 BILLION BAHRAINI DINARS WORTH OF ELECTRONIC FINANCIAL TRANSACTIONS IN 2022

BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, announced that it reached total volume of 113.7 million for all electronic fund transfer transactions (Fawri, Fawri+ and Fawateer) through BenefitPay during the first half of 2022, which is a 92% increase in volume compared to the first half of 2021.

The online payments under the Electronic Fund Transfer System (EFTS), consisting of Fawri+, Fawri and Fawateer, is continuing to see significant growth during the first half of 2022, as demonstrated by the volume increase of 85%, as the total volume increased from  65.7 in the first half of 2021 to 121.3 million in the first half of 2022

The volume of payments made in the first half of 2021 using Fawri+ is 55.8 million compared to 108.7 million in the first half of 2022, a growth of 95%.

Fawri+ transactions over all channels soared by 50%, with a total value of over BD 2.9 billion in the first half of 2022, increasing from BD 1.9 billion in the first half of 2021. Fawri+ transactions through BenefitPay’s application in the first half of 2022 reached a total value of approximately BD 2.7 billion, in comparison to approximately BD 1.8 billion in the first half of 2021, a growth of 51%.

Fawri transactions over all channels increased by 23% as their value in the first half of 2022 exceeded BD 9 billion, compared to approximately BD 7 billion during the first half of 2021. Furthermore, the fund transfer service has gained a total value of around BD 385 million in the first half of 2022, through the BenefitPay application, compared to around BD 250 million in the first half of 2021, showing an increase of 54%.

As for Fawateer transactions over all channels, there has been an increase of 44%, with their total value in the first half of 2022 exceeding BD 443 million, up from over BD 308 million in the first half of 2021. Fawateer transactions through the BenefitPay application reached a total value exceeding BD 90 million, a significant increase of 71% from the first half of 2021’s total value of approximately BD 53 million.

The electronic Know Your Customer (eKYC) platform totaled up to 212,663 verifications during the first half of 2022, in comparison to 73,586 verifications in the first half of 2021, demonstrating a 189% increase.

Furthermore, the Bahrain Credit Reference Bureau (BCRB) operated under BENEFIT, issued a total of 127,143 credit reports in the first half of 2022, up from 119,022 credit reports in the first half of 2021, a 6.8% increase.

 

English Infographic Jan-June2022 V 22aug2022

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BENEFIT KICKS OFF ANNUAL FINTECH INTERNSHIP PROGRAM ‘MASAR’

BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, officially kicks off its Annual FinTech Internship Program “Masar” in its first edition, in collaboration with the Supreme Council for Women (SCW).

This year, 11 university students and recent graduates are enrolled in the program segmented into 3 learning paths including Data services, Payment services and Corporate Support. On the first day, students completed an in-depth orientation program with various workshops delivered by BENEFIT with a key focus on AML Financial Crime, Information & Cybersecurity, Financial Literacy and more.

Salah Al Awadhi, Head of Human Resources & Administration commented on the initiative, “BENEFIT is thrilled once again to kick off our annual internship program; Masar. We are also pleased to cooperate with the SCW to enable the participating students to receive hands-on experience in a multi-vertical financial ecosystem that is quite complex and ever-evolving. Educational opportunities and initiatives such as these provide them a stepping stone into the industry as they shadow leaders in the space and gain the confidence to create innovative solutions. As BENEFIT, we take pride in our youth and will continue to build robust mentoring and educational programs to further contribute to the Kingdom’s thriving financial sector.”

He added: “The tailored program will conclude with a final project in which students are challenged to submit their most unique concept in order to win a trophy for the ‘Best innovative idea in FinTech’. The pitched innovative idea must streamline existing processes, simplify and lower costs of operations, generate a new income line for the company and add value to society.”

Masar’s goal is to empower and upskill Bahrain’s youth to participate in the Kingdom’s thriving FinTech sector and generate future solutions. The internship provides Bahraini university students and recent graduates an opportunity to shadow industry experts, acquire foundational skills and practical knowledge, and collaborate to develop innovative FinTech solutions, through their introduction to the financial technology ecosystem.

 

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In Collaboration with the Supreme Council for Women

BENEFIT LAUNCHES FINTECH INTERNSHIP PROGRAM ‘MASAR’ TO UPSKILL AND EMPOWER BAHRAINI YOUTH

BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, announces launching its Annual FinTech Internship Program “Masar” in its first edition, in collaboration with the Supreme Council for Women (SCW),  to empower and upskill Bahrain’s female youth to participate in the Kingdom’s thriving FinTech sector and generate future solutions. The personalized internship experience will allow Bahraini university students and recent graduates to learn from industry experts, acquire foundational skills and practical knowledge, and learn to collaborate to develop innovative FinTech solutions, through their introduction to the financial technology ecosystem

On this occasion, Ms. Hala Al-Ansari, Secretary General of the Supreme Council for Women, praised the program, which is organized in cooperation with BENEFIT Company, as an important tool to increase the participation of Bahraini women in the field of financial technology in the Kingdom. The program seeks to bridge the gaps between education and the labor market to create promising opportunities and enhance the capabilities of the future generation, especially with the economy heading towards digital transformation through the expansion of digital technology and financial technology sectors.

Mr. Abdulwahed AlJanahi, Chief Executive of BENEFIT, commented on the initiative, “We invite exceptional undergraduates and recent graduates with relevant study experience and passion for the financial industry and financial technology to participate in our unrivaled internship program and create a positive societal impact via their fundamental learnings. With a strategic focus on supporting students, fresh graduates, the corporate community, and future fintech entrepreneurs, we will dominate with success and favorably influence the quick evolving and increasingly significant fintech-driven market sectors across the Kingdom, all while empowering women in the FinTech space.”

He added, “We want Bahrain’s youth to be adaptable, innovative and disruptive in a constantly changing world. Programs such as these will foster just that by creating avenues to those that want to push the boundaries and contribute to advancing their communities.”

The FinTech Internship Program ‘Masar’ will kick off with an in-depth orientation program, which will include workshops that will highlight BENEFIT’s ecosystem and diverse services, and insights into crucial topics such as AML Financial Crime, Information & Cybersecurity, Financial Literacy and more. Furthermore, the program will provide opportunities for candidates to work in various departments at BENEFIT, with on the job training that will be split into three paths including Data services, Payment services and Corporate Support.

The tailored program will conclude with a final project in which students are challenged to submit their most unique concept in order to win a trophy for the ‘Best innovative idea in FinTech’. The pitched innovative idea must streamline existing processes, simplify and lower costs of operations, generate a new income line for the company and add value to society

All interested candidates are welcome to apply on BENEFIT’s website on benefit.bh/masar/. Candidates must be fluent in both Arabic and English, and will be screened to ensure they fulfill the eligibility requirements.

 

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