09/10/2026 09:58 AST
Beyon Connect, part of the Beyon Group, and BENEFIT, Bahrain's leading fintech and electronic financial transactions services company, have signed a strategic memorandum of understanding (MoU) to explore potential collaboration in FinTech services and solutions in international markets.
The MoU was signed during Fintech Forward 2026, by Richard Budel, Chief Executive Officer of Beyon Connect, and Abdulwahed AlJanahi, Chief Executive of BENEFIT, in the presence of Shaikh Abdulla bin Khalifa Al Khalifa, Beyon Group Chairman, Muna Al Hashemi, BENEFIT Chairperson of the Board, and other executives.
The collaboration brings together the complementary capabilities and expertise of two leading Bahrain-based digital organisations across areas including digital identity and digital enablement, payments, credit bureau and information services.
Under the MoU, Beyon Connect and BENEFIT will explore potential opportunities for collaboration in FinTech services and solutions in international markets, including identifying and assessing potential business opportunities and markets, exchanging relevant knowledge and market insights, and exploring cooperation with financial institutions, governmental entities, regulators and other relevant stakeholders.
Richard Budel, Chief Executive Officer of Beyon Connect, said: "Bahrain has developed a strong and increasingly connected digital ecosystem, and collaboration between organisations with complementary capabilities is important to sustaining that momentum. BENEFIT has played a significant role in advancing the Kingdom's financial services infrastructure, and we are pleased to establish this framework for collaboration with them. By bringing together trusted digital identity, digital enablement and financial infrastructure capabilities, we have an opportunity to explore new FinTech opportunities internationally, and extend the reach of Bahrain-developed capabilities into international markets."
Abdulwahed AlJanahi, Chief Executive of BENEFIT, said: "Bahrain's digital economy has been built on trusted national platforms and close cooperation across the public and private sectors. Our MoU with Beyon Connect brings together complementary capabilities across key areas of the digital ecosystem and creates a strong foundation to explore FinTech opportunities in international markets. We look forward to working together to identify areas where our combined expertise can create value beyond the Kingdom."
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