Bede Bahrain partners with Spare for Open Banking integration
Bede Bahrain, the innovative microfinance solutions app, has signed a strategic agreement with Spare, an open banking platform licensed by the Central Bank of Bahrain. This partnership leverages the transformative power of open banking to connect Bede securely and efficiently with its customers' financial data with explicit consent from them.
Through this partnership, Bede will integrate Spare's open banking services directly into the Bede app, enhancing the accuracy and efficiency of income verification. Users will be seamlessly redirected to the Spare platform, where Bede can instantly access and verify real-time financial data in just a few simple steps. This allows for a faster and more reliable determination of eligibility for Islamic financing.
A.Nasser Al-Rayes, Bede Bahrain CEO, commented, 'At Bede, we aim to make access to finance as seamless and straightforward as possible for everyone. This partnership reflects our commitment to advancing financial inclusion across the Kingdom, an essential pillar of Bahrain's Vision 2030. We are continuously working to adopt new technologies, improve our app digital experience, and actively listen to customer feedback. This integration is one of the key solutions that help us deliver on that promise, making Islamic financing easier and more accessible than ever.'
Dalal Alrayes, Spare Technologies CEO, commented, 'We are proud to partner with Bede to advance the adoption of Open Banking in the Kingdom. This collaboration reflects our shared commitment to innovation, financial transparency, and delivering real value to end users. Together, we aim to streamline financial access, improve decision-making, and unlock new opportunities for growth across the lending ecosystem.'
The App offers a straightforward registration process with minimal requirements. Users can apply for Islamic financing in just a few minutes from anywhere and at any time throughout the week, making it a comfortable experience.
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