BENEFIT, Bahrain’s innovator and leading company in Fintech and electronic financial transactions services, has signed a landmark agreement with Swiss GRC to implement their comprehensive RegTech platform, the Governance, Risk, and Compliance (GRC) Toolbox.
The signing ceremony took place at BENEFIT’s headquarters, marking a milestone as the first company in Bahrain to adopt Swiss GRC’s centralized software solution.
With its seamlessly integrated, role-based solutions, the Toolbox will enable BENEFIT to track GRC-related matters efficiently across all departments. The platform will produce detailed reports and dashboards to monitor and manage internal GRC issues. Additionally, it will establish a unified risk taxonomy, ensuring consistency and alignment across Internal Audit, Risk Management, Information Security, Legal, and Compliance departments with a shared framework and approach.
By implementing Swiss GRC’s holistic platform, BENEFIT aims to enhance its ability to identify, assess, and manage key organizational risks. This integration is expected to strengthen corporate accountability, improve financial, strategic, and operational efficiencies, and reduce risk profiles and incident costs, resulting in more robust overall performance.
Abdulwahed AlJanahi CEO – BENEFIT
“Our pioneering partnership with Swiss GRC represents a significant milestone for BENEFIT and sets a new benchmark for Governance, Risk, and Compliance in Bahrain. As the first company in the Kingdom to adopt this advanced Toolbox, we are not only streamlining our internal processes but also positioning Bahrain as a leader in governance and risk management innovation. This platform will play a key role in enhancing our risk awareness, strengthening organizational resilience, and delivering substantial benefits across our operations.”
“By integrating this comprehensive solution, we aim to fortify our governance framework, ensuring strategic alignment and driving sustainable progress in the financial sector. Ultimately, this underscores BENEFIT’s commitment to excellence and reflects our dedication to enhancing corporate accountability and operational efficiency,” Al Janahi added.
Besfort Kuqi, CEO of Swiss GRC, remarked that, “We are very pleased to welcome BENEFIT as a key client in the Middle East. We are especially excited to guide and support BENEFIT on their journey toward Integrated Assurance. Our platform is designed to streamline all GRC activities, providing easy-to-use tools for data management, automation, and reporting to enhance organizational resilience and uphold regulatory standards. We look forward to a successful collaboration that will set new industry benchmarks.”
Mansoor AlAlwan, Chief of Internal Audit at BENEFIT, commented that, “Migrating to Swiss GRC’s Toolbox is a crucial step in refining our internal audit processes and overall risk management. The platform’s robust features will enable us to efficiently track and manage all GRC-related matters, streamline reporting, and maintain consistency across all departments. Additionally, this integration will significantly enhance our ability to identify and mitigate risks in real-time while improving our operational efficiency and helping us uphold the highest standards of compliance. We are confident it will further strengthen our internal controls and audit capabilities.”
By integrating the holistic solution, BENEFIT reinforces its commitment to maintaining the highest standards of corporate governance. Guided by its principles of integrity, efficiency, and transparency, BENEFIT continuously strives to add value to Bahrain’s financial ecosystem, supporting long-term prosperity and enduring success.
