ila Bank, a digital-only bank based in Bahrain and powered by Bank ABC, has extended its collaboration with Mastercard to introduce a new suite of consumer products, including travel-focused cards, enhanced loyalty programmes and upgraded fraud and privacy protections.
The bank, launched in 2019, is a mobile-only digital bank offering a range of financial products, including debit, credit and prepaid cards with loyalty features. Its app also includes tools for digital saving and a prize-linked account that distributes cash rewards throughout the year.
The partnership aims to strengthen ila’s regional presence and provide cardholders with value-added benefits across lifestyle, retail and travel segments.
Their existing relationship has produced initiatives such as multi-currency debit cards and co-branded airline loyalty programmes, aligning with ila Bank’s broader ambition to redefine customer-centric digital banking in the region.
According to the bank, renewing its engagement with Mastercard will “strengthen its standing as the frontrunner in the region’s digital payments landscape by offering the most seamless, secure and future-focused product portfolio that provides unparalleled premium benefits”.
“ila has always been about the customer,” says Mohamed Almaraj, CEO at ila Bank. “We are proud to have maintained our commitment to offering customer-centric solutions and experiences in a growingly cashless economy, and this strategic agreement furthers the ila promise of ‘banking that reflects you’.
Adam Jones, Mastercard’s division president for West Arabia, also commented: “In line with our shared commitment to driving innovation across the digital ecosystem, our long-standing relationship with ila Bank focuses on delivering customer-first solutions that help ensure a secure and rewarding banking experience. We will continue to provide our partners with enhanced product offering, supporting regional expansion.”
Source: https://thefintechtimes.com/
