Kuwaiti operator Zain Group introduced a mobile app to deliver a range of financial services to boost economic inclusion in the Middle East, with the offering initially available in Bahrain before being expanded across the company’s footprint.
Bede launched through Zain’s financial technology arm and is promoted as boosting financial inclusion by providing micro-finance services compliant with local values.
Zain noted there is a plan to add remittance, credit card and payment services in due course, subject to regulations and commercial considerations.
The platform employs AI to improve credit assessment procedures and Zain explained the brand is designed to be “accessible and beneficial to everyone, whether the individual is looking to fund an emergency situation or manage their day-to-day expenses more efficiently”.
Zain vice chair and group CEO Bader Al-Kharafi noted Bede’s launch is in line with the company’s 4Sight strategy, aimed at unlocking opportunities through digital offerings, along with its vision “to expand much-needed fintech services” in Iraq, Jordan, Saudi Arabia, “and soon” Kuwait and Sudan.
“The introduction of a new fintech brand represents a major step in Zain’s strategic aspirations to expand its regional leadership in the fintech arena supported by our footprint, customer base and leading technologies,” Al-Kharafi added.