BENEFIT has launched FinSouq on BenefitPay, describing it as Bahrain’s first consumer lending marketplace.
The platform brings together banks and financing institutions in one digital marketplace, allowing customers to view, compare and apply for personalized financing offers through BenefitPay. The company said the service is designed to simplify the application process and help users make more informed borrowing decisions.
FinSouq uses BENEFIT’s financial infrastructure and credit information capabilities to support the financing journey. However, credit assessments, approvals and lending decisions remain the responsibility of participating financial institutions.
The platform also aims to improve transparency in Bahrain’s consumer finance market by giving customers access to information from multiple providers, while helping financial institutions connect more efficiently with eligible borrowers.
According to the announcement, the launch supports Bahrain’s broader ambition to develop as a regional digital finance hub by expanding access to financing, encouraging responsible lending and increasing competition in the market.
Source: Biz Bahrain
