SICO BSC c : Beyon Money Launches Flexi Savings in Partnership with SICO

Manama, Bahrain: Beyon Money, part of the Beyon Group, and SICO, a leading regional asset manager and Investment Bank have partnered to launch Flexi Savings, an Investment Product for Beyon Money customers, the first of its kind in Bahrain and MENA region.

Flexi Savings, which is available for both Beyon Money Classic and Platinum Card holders, enables customers to grow their earnings on a daily basis. Customers can seamlessly deposit their cash from a bank offering zero or low returns into a high yield product, earning attractive rates on deposits starting from as low as BD20 with no upwards limit. Along with the unparralleled earnings, there are no time commitments and customers have full freedom of withdrawal at any time. Earnings are credited daily and paid at the end of each month, so even short term deposits will still earn.

Beyon Money CEO Roberto Mancone commented, "Beyon Money is delighted to partner with SICO to deliver this first of its kind offering in the local and regional market empowering customers of Beyon Money to save and earn whilst having access to their money at any time."

"Flexi Savings is the most innovative save and earn product in the MENA market delivering complete flexibility, the most competitive profit rates for fully flexible deposits, and availability to increase and decrease their savings at any time, and yet still earn profit," Mr. Mancone stated.

"Flexi Savings confirms our ability to be a Fintech that partners with and empowers important financial institutions in the industry, offering innovative customer-focused solutions that are not available elsewhere in the market. It is the first of a series of products that will cater initially to clients with no investment experience and subsequently will offer additional products catered to more sophisticated investors, allowing everyone to become customers of Beyon Money because they will always find a product that suits them from a huge variety of financial management products in our pipeline," Mr. Mancone added.

SICO CEO, Najla Al Shirawi, commented on the new collaboration with Beyon Money, stating, "We are pleased to partner with Beyon Money, leveraging our asset management expertise to expand the array of investment and savings choices available through the Beyon Money app. Together, we can offer innovative investment and savings services with competitive returns to a wider spectrum of individual and corporate clients. This collaboration represents our unwavering commitment to promoting a savings culture within the community and fostering an environment of investment, regardless of its size."

To access the Flexi Savings product, existing Beyon Money customers will need to update their Beyon Money app and access the "Earn" tab. New Beyon Money customers are invited to download the Beyon Money App to benefit from Flexi Savings and the wide range of other financial services from Beyon Money.

Beyon Money launched in January 2022 to operate in Bahrain through 3 Financial Services Regulated Entities by Central Bank of Bahrain: Batelco Financial Services, Batelco Remittance Services and Beyon Money Investment. In the first 5 months of 2023, it achieved significant growth equal to 6 times the volume of domestic and international payments and 10 times the number of customers compared to the same period in 2022.

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