ila Financial institution, a digital-only financial institution primarily based in Bahrain and powered by Financial institution ABC, has prolonged its collaboration with Mastercard to introduce a brand new suite of client merchandise, together with travel-focused playing cards, enhanced loyalty programmes and upgraded fraud and privateness protections.
The financial institution, launched in 2019, is a mobile-only digital financial institution providing a variety of economic merchandise, together with debit, credit score and pay as you go playing cards with loyalty options. Its app additionally contains instruments for digital saving and a prize-linked account that distributes money rewards all year long.
The partnership goals to strengthen ila’s regional presence and supply cardholders with value-added advantages throughout life-style, retail and journey segments.
Their current relationship has produced initiatives similar to multi-currency debit playing cards and co-branded airline loyalty programmes, aligning with ila Financial institution’s broader ambition to redefine customer-centric digital banking within the area.
In accordance with the financial institution, renewing its engagement with Mastercard will “strengthen its standing because the frontrunner within the area’s digital funds panorama by providing probably the most seamless, safe and future-focused product portfolio that gives unparalleled premium advantages”.
“ila has all the time been in regards to the buyer,” says Mohamed Almaraj, CEO at ila Financial institution. “We’re proud to have maintained our dedication to providing customer-centric options and experiences in a growingly cashless economic system, and this strategic settlement furthers the ila promise of ‘banking that displays you’.
Adam Jones, Mastercard’s division president for West Arabia, additionally commented: “According to our shared dedication to driving innovation throughout the digital ecosystem, our long-standing relationship with ila Financial institution focuses on delivering customer-first options that assist guarantee a safe and rewarding banking expertise. We are going to proceed to offer our companions with enhanced product providing, supporting regional growth.”