Bahrain's First Open Finance Consumer Marketplace Launched

Bahrain's Electronic Network For Financial Transactions partners with Zphin, a PB Fintech arm, to launch Bahrain's first consumer lending and insurance marketplace. Utilizing open banking infrastructure, the new platform offers personalized financial options to Bahraini consumers, enhancing informed decision-making.

Bahrain's Electronic Network For Financial Transactions, also known as BENEFIT, has entered into a strategic alliance with Zphin, the technology subsidiary of PB Fintech Limited. This collaboration aims to establish Bahrain's inaugural online marketplace for consumer lending, car insurance, credit cards, and travel insurance.

The initiative marks Bahrain's foray into a comprehensive consumer financial services marketplace, leveraging an advanced open finance ecosystem based on open banking infrastructure. This development is a significant step in modernizing the country's financial service offerings.

Combining Zphin's technological prowess with Atyaf eSolutions' local expertise, the platform is set to offer Bahraini consumers personalized, pre-qualified financial solutions. This will enable quicker, more confident decision-making for users exploring financial products.

(With inputs from agencies.)