Saudi digital solutions leader Elm has announced a strategic partnership with the Bahrain Electronic Network for Financial Transactions (BENEFIT), the Kingdom’s premier fintech and electronic financial transactions service provider. The two entities have signed a Memorandum of Understanding (MoU) to explore and develop digital innovation across the financial services sector.
The landmark agreement was formalized on the sidelines of the Gateway Gulf Investment Forum 2025, held in Bahrain, signaling a significant cross-border collaboration aimed at advancing the region’s digital finance ecosystem.
A Strategic Push for Regional Integration
The partnership aims to leverage the combined expertise of both organizations to foster a more integrated and digitally empowered financial landscape. Key areas of collaboration will include the joint development of shared digital services, the enablement of seamless digital onboarding for financial institutions, and the creation of new solutions to serve both individuals and businesses.
For Elm, this move represents a continuation of its strategy to expand its regional footprint and forge alliances with key players in the fintech space. The collaboration is poised to reinforce Elm’s position as a trusted digital enabler beyond Saudi Arabia.
C-Suite Commentary on the Partnership
Majed bin Saad Al Arifi, Official Spokesperson and Executive Vice President of Marketing at Elm, highlighted the MoU’s strategic importance. “This partnership marks a continuation of Elm’s efforts to strengthen its regional presence and build strategic collaborations with leading entities in the field of FinTech,” he stated. “This collaboration with BENEFIT exemplifies the synergy between both entities’ expertise in advancing secure digital financial services, paving the way for innovative solutions that serve individuals and enterprises alike.”
Abdulwahed AlJanahi, Chief Executive of BENEFIT, commented on the mutual benefits of the agreement. “Through this partnership, BENEFIT aims to broaden its network of regional and international collaborations in the fields of FinTech and digital services,” he affirmed. “The integration with Elm will empower both organizations to develop efficient and reliable solutions that enhance the financial sector and advance digital inclusion throughout the region.”
About Elm
Elm is a leading digital solutions company based in Saudi Arabia, providing a wide range of ready-made and customized digital services to both public and private sectors. The company focuses on driving digital transformation and innovation across various industries.
About BENEFIT
Established as the national ATM and Point of Sale switch of Bahrain, BENEFIT has since evolved to become the Kingdom’s leading company in fintech and electronic financial transactions. It plays a pivotal role in Bahrain’s FinTech ecosystem by driving digital efficiency and facilitating service integration between financial institutions and government entities.
Source: Zawya
