Bahrain - Benefit, fintech innovator and electronic financial transaction services provider, has signed a strategic partnership with Zphin, the technology arm of India’s PB Fintech, to develop a groundbreaking online platform for consumer lending, car insurance, credit cards and travel insurance.

This initiative marks the launch of Bahrain’s first-ever consumer lending and insurance marketplace, leveraging open banking infrastructure to create an advanced open finance ecosystem.

This marketplace, integrated into the BenefitPay super app, will empower credit providers of all types to reach the entire bankable population while extending financial services to the unbanked and underbanked.

Customers will have increased access to credit with new-age underwriting methods, breaking away from traditional credit evaluation processes. Additionally, this marketplace will enhance the lending market with greater transparency and competitive edge, driving better financial inclusion and empowering consumers with one-stop access to financial products, including embedded insurance options.

By leveraging Zphin’s technological expertise and Bahrain-based Atyaf eSolutions’ local market knowledge, the platform will provide Bahraini consumers with personalised, pre-qualified financial options.

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