As part of its commitment to encourage major startups, Tamkeen signed an agreement with Eazy Financial Services B.S.C, a Bahrain-based fintech company.
Tamkeen aims to enhance partnership with private sector enterprises by introducing many programs and solutions. It pays special attention to innovative projects that contribute to the development of the Kingdom of Bahrain. Tamkeen is proud to support Eazy, which takes centre stage thanks to its creative plans.
Tamkeen’s diversified financial, grant-based solutions and advisory services aim to advance the growth of businesses by enhancing their capabilities.
The agreement, signed under Tamkeen’s Enterprise Support Program, will help Eazy purchase advanced equipment, build IT and communications infrastructure, and make use of advisory, marketing and branding services.
In this context, Tamkeen Chief Executive Officer Dr. Ebrahim Mohammed Janahi, said: “Tamkeen constantly seeks to encourage the private sector and build its capacity to become the main engine for Bahrain’s economy. We highly value Bahraini companies aiming to fulfil customer needs in unique and innovative ways. We believe that Eazy is a promising private sector enterprise that we need to support to turn its concept into reality.”
Eazy is gearing up to launch the region’s first biometric payment network in the Kingdom of Bahrain. Featuring an integrated fingerprint solution as an alternative to the traditional cash and card methods, this will be the first of its kind financial technology to be launched in the region and will further serve to strengthen Bahrain’s standing as a tech hub. The technology uses biometric data from its users to enable them to perform everyday financial transactions with utmost security. It combines the security of biometrics with the speed and convenience of cardless and paperless payment. To benefit from this solution, customers will be required to enroll through participating financial institutions by registering their fingerprints. All users will receive a PIN and once activated, they will be able to make any payment without the need to carry their wallets or any devices. The fingerprint is enough to make a transaction and the PIN will be used to authenticate for additional security.
This new technology will drastically transform the entire spectrum of financial services in Bahrain and regionally.
This innovative solution, developed by Bahraini talents, is patented at the United States Library of Congress.