www.bahrainthismonth.com business bites 38 August 2021 Rackspace Technology® (NASDAQ: RXT), an end-to-end multi-cloud technology solutions company, has announced that BFC Group Holdings (BFC), a money transfer and currency exchange provider in the Kingdom of Bahrain, is shifting its core application and supporting systems to Amazon Web Services (AWS). The migration creates a platform for BFC Group to focus on delivering seamless financial services to customers without the complexity of managing and maintaining a vast data centre. “Digital transformation is a business imperative for the modern enterprise. By leveraging our global expertise and technology, BFC Group has maintained its position as the leading money transfer service in the region while improving the customer experience. The scalability of public cloud means BFC Group can easily expand across boundaries with a consistent level of service no matter the country,” said Rackspace Technology, Middle East and Africa General Manager, George Pawlyszyn. The strategic migration has also eliminated the hassle and expense of managing in-house data centres, enabling BFC Group to invest more resources into innovation and service improvements. SPEARHEADING A DIGITAL TRANSFORMATION In line with its digitisation strategy, Bahrain Islamic Bank (BisB) officially unveiled its completely revamped design for the Bank’s Financial Mall located in Riffa, revealing a completely new innovative design. Aptly named the Riffa Innovation Hub, the new space combines the best of both: traditional and digital experiences in a single space. One floor is dedicated to traditional customer service representatives complete with customer service agents offering their usual services. The other full-fledged digital floor is equipped with self-service machines and digital services dedicated to its customers that prefer to complete their banking transactions independently. The Hub also includes the locally-owned coffee shop, Roast, which was selected as the hosted business through a competition held last year. The digital floor allows customers to perform a multitude of transactions aside from open accounts, apply for financing, maintain or update their records and even speak to a bank representative through a video screen as an added option. UNITING DIGITAL AND TRADITIONAL BANKING Mastercard has partnered with Bahraini fintech and payment service provider Eazy Financial Services to provide SMEs and micro merchants with digital payment tools and access to financial services that will accelerate inclusive economic growth in Bahrain. “Partnering with fintechs as a single technology provider is an important part of how we help to reshape and advance the digital payments landscape,” said Mastercard Country Manager, Saudi Arabia, Bahrain, and Levant, J.K. Khalil. The partnership will also support the expansion of Eazy’s services, as well as improve access, opportunities and connections within the country’s digital payments ecosystem. “Our aim is to add value, and Mastercard’s seamless payments technology solutions gives us the opportunity to do that,” said Eazy Financial Services Founder and CEO, Tawfeeq Al Alawi. In March 2021, Eazy obtained its POS & Online Acquiring license from the Central Bank of Bahrain and launched its new Software point of sale Application (SoftPOS) solution called “EazyPay” which allows Local Merchants & SMEs in the market to accept Contactless Payments supporting to extend the acceptance of an untapped segment of merchants. RESHAPING THE DIGITAL LANDSCAPE
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