MANAMA: UAE-based finance comparison site compareit4me.com continues to widen its regional reach with the launch of bahrain.compareit4me.com, a unique platform designed for consumers in Bahrain.
Compareit4me.com brings to the Bahraini market the same innovative technology that catapulted its brand in the UAE three years ago and in Qatar most recently.
“With just a click, consumers will be able to search, compare and apply for financial products such as bank accounts, credit cards, car loans, home finance and personal loans being offered by local and international banks operating in Bahrain.
“The company’s debut offers a significant opportunity to tap a promising yet underserved consumer base,” Jon Richards, CEO of compareit4me.com said.
Bahrain, the first GCC country to join the SWIFT network in 1987, has a steadily rising banked population spurred by the country’s improving payments structure. According to the Central Bank of Bahrain, total assets of its banking sector reached $193.6 billion in the first half of 2014.
“Finding any form of finance can be difficult and we strongly believe that consumers should always research and compare all the financial products available in the market before they apply. By providing all the information online, bahrain.compareit4me.com gives consumers the tools to make an informed decision before they decide to take out a loan or apply for a credit card. We offer them the convenience to do all this in the comfort of their homes or offices, without them having to pick up a phone or go to a physical bank branch,” Richards added.
Compareit4me.com has been at the forefront of the Middle East’s emerging product/price comparison industry. Richards believes that comparison sites not only cater to the needs of consumers across the region, but also contribute to the growth of the banking sector.
“In the UAE, for example, our website receives over 120,000 users per month, translating to more than 20,000 applications for banks. We are confident that by connecting institutions with informed consumers, we will be able to generate significant exposure for Bahrain banks in addition to helping consumers find the best products to suit their needs,” he said.