Following this announcement, the financial institution will focus on optimising traditional methods of financial services by offering improved technologies and solutions, providing fintech development, as well as following the kingdom’s comprehensive development strategy.
The launch is expected to represent an important part of the company’s plan to develop across its country markets and the kingdom’s overall digital landscape, as well as to drive financial inclusion and optimise the growth of the regional fintech ecosystem.
The Zain FinTech institution represents the financial services arm of Zain Group, being an important tool in the financial institution’s `4Sight` strategy by overseeing Zain’s fintech solutions across its operations in the regions of the Middle East and Africa. It also focuses on launching new products and services related to payments, remittances, credit cards, as well as micro-finance within the Zain ecosystem, and beyond.
The launch of the Bede app is aimed at boosting Zain Bahrain’s overall Economic Recovery Plan, in order to foster investment and strengthen its relationship with the private sector. In addition, it will continue the company’s commitment to supporting priority sectors through a range of initiatives, notably those that are focused on technological and digital progress and development. The Bede application was designed with Sharia-compliant features, a user-friendly interface, as well as multiple security measures.
Other key initiatives include the launch of new strategies for the development of financial services, ICT, and digital economy sectors, as well as multiple efforts put in the process of improving digital infrastructure and encouraging optimised financial technology. Those will be leveraged in order to drive economic growth, with a focus on meeting the ever-changing needs, preferences, and demands of customers.
At the same time, the launch is expected to align with the need for strengthened public-private cooperation, aimed to foster a conducive business environment and attract investments that will develop the economy even more. Furthermore, the expansion of fintech services is set to boost financial inclusion and the overall regional digital ecosystem, in addition to optimising the socio-economic vision of the countries that are served.
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