Bahrain fintech BENEFIT has partnered with AMAN to strengthen AML, due diligence, and financial crime compliance through an integrated RegTech platform. This partnership aims to bolster the security and integrity of Bahrain's digital financial services.
Under the service agreement, BENEFIT will adopt AMAN’s compliance platform, powered by global financial crime management company Themis. The collaboration will support its compliance and financial crime risk management activities.
Also Read: Saudi ConTech Startup Fitting Raises $1.1M Seed Funding
The agreement was signed by Abdulwahed AlJanahi, Chief Executive of BENEFIT, and Dickon Johnstone, Group Chief Executive Officer of AMAN. The signing occurred at BENEFIT’s headquarters in Bahrain in the presence of senior representatives from both organisations.
How BENEFIT Uses Financial Crime Compliance Tech
AMAN’s platform will provide BENEFIT with a unified environment for managing key compliance processes. These include customer onboarding, due diligence, screening, risk assessment, and financial crime case management.
By bringing these functions together, the platform is designed to give BENEFIT greater visibility into compliance cases and risk assessments. This supports faster and more consistent decision-making across the firm.
The technology is also expected to improve the efficiency and accuracy of BENEFIT’s regulatory operations. This is vital as the financial crime landscape becomes increasingly complex.
“Financial crime risks continue to evolve, and organisations require more sophisticated solutions that can bring information together, analyse it effectively and support timely oversight,” said Abdulwahed AlJanahi, Chief Executive of BENEFIT.
He added that the partnership would help streamline onboarding and due diligence activities. It will also maintain the level of rigour required for regulatory reviews and risk assessments.
Strengthening Bahrain’s Financial Ecosystem
For AMAN, the partnership represents an opportunity to support one of Bahrain’s key financial infrastructure companies. It also contributes to the Kingdom’s broader regulatory framework.
Go deeper on GCC & Africa tech — $9.99/month.
Deep dives and investor insights the free digest doesn't cover.
“We are proud to partner with BENEFIT. AMAN’s mission is to strengthen Bahrain’s financial ecosystem and reinforce the Kingdom’s position as a safe, trusted international financial centre,” said Dickon Johnstone, Group CEO of AMAN.
Johnstone said the collaboration would enhance capabilities and support Bahrain’s alignment with local and international standards. This helps financial institutions strengthen governance, oversight, and organisational readiness.
The partnership comes as financial institutions and fintech companies face increasing pressure to strengthen their ability to identify, assess, and manage risks.
For businesses operating across payments and financial services, compliance is shifting. It is moving from a manual function toward integrated technology platforms capable of processing large volumes of data and supporting continuous monitoring.
Why RegTech Matters to the MENA Region
BENEFIT and AMAN’s partnership reflects a wider trend across the MENA financial sector: compliance technology is becoming a critical part of digital financial infrastructure.
As Gulf markets expand fintech, digital payments, and open banking, financial institutions face sophisticated money laundering, fraud, and sanctions risks.
Technology-driven compliance helps institutions manage this complexity. It brings due diligence and risk assessment into connected systems rather than fragmented workflows.
Bahrain is particularly relevant to this trend because of its role as a fintech hub in the Gulf. Strengthening capabilities among major infrastructure providers reinforces trust in the Kingdom’s digital financial ecosystem.
The partnership also highlights an opportunity for MENA’s RegTech sector. As regulators raise expectations, demand is growing for local solutions that combine regulatory knowledge with advanced data technology.
For the wider region, the collaboration signals that financial innovation and prevention need to develop together. As MENA accelerates its transition toward digital finance, a robust infrastructure remains essential to maintaining trust and supporting sustainable fintech growth.
Engagement
