Manama:Beyon Connect and BENEFIT have signed a strategic Memorandum of Understanding (MoU) to explore potential collaborations in FinTech services and solutions internationally. Beyon Connect is part of the Beyon Group, while BENEFIT is Bahrain's leading fintech and electronic financial transactions services company.
According to Bahrain News Agency, the MoU was signed during the Fintech Forward 2026 event by Richard Budel, Chief Executive Officer of Beyon Connect, and Abdulwahed AlJanahi, Chief Executive of BENEFIT. The signing was witnessed by Shaikh Abdulla bin Khalifa Al Khalifa, Beyon Group Chairman, and Muna Al Hashemi, BENEFIT Chairperson of the Board.
The partnership aims to leverage the strengths of both organizations in areas like digital identity, digital enablement, payments, credit bureau, and information services. Beyon Connect and BENEFIT plan to identify and assess potential business opportunities and markets, share knowledge and market insights, and explore cooperation with financial institutions, government entities, regulators, and other stakeholders.
Richard Budel of Beyon Connect emphasized Bahrain's robust digital ecosystem and the importance of collaboration in maintaining its momentum. He noted BENEFIT's significant role in advancing the Kingdom's financial services infrastructure, expressing optimism about the potential to explore new FinTech opportunities internationally.
Abdulwahed AlJanahi of BENEFIT highlighted the strong foundation of Bahrain's digital economy built on national platforms and public-private cooperation. He expressed enthusiasm for the collaboration with Beyon Connect, focusing on identifying areas where their combined expertise could generate value beyond Bahrain.