Ila Bank Partners with Mastercard to Unveil Exclusive Premium Travel and Loyalty Offerings
ila Bank, a pioneering mobile-only digital bank backed by Bank ABC, has recently renewed its strategic partnership with Mastercard, a global leader in payment technology. This collaboration is set to enhance ila Bank’s consumer product offerings, focusing on premium travel options, lifestyle rewards, and advanced fraud protection tools.
Strengthening ila Bank’s Value Proposition
The renewed partnership aims to bolster ila Bank’s value proposition, particularly in customer loyalty and premium offerings. By tapping into Mastercard’s extensive expertise and global resources, ila Bank plans to introduce an upgraded loyalty program that aligns with customers’ lifestyles, offering rewards in:
- Luxury shopping
- Travel
- Dining
- Exclusive experiences
About ila Bank
Located in Bahrain, ila Bank is a fully digital, mobile-only bank dedicated to providing customer-centric banking solutions. Since its launch, it has gained recognition for innovative products like debit, credit, and prepaid cards. Additionally, ila Bank features advanced savings tools such as Hassala and Jamiya, along with the prize-based Al Kanz account.
Mastercard’s Role in Enhancing Security
Mastercard, known for its cutting-edge fintech solutions in payment processing, plays a crucial role in this partnership. The company is committed to ensuring secure and seamless digital transactions across more than 210 countries. As part of the renewed agreement, ila Bank will leverage Mastercard’s fraud prevention technologies and privacy tools, enhancing transaction security for its users.
Previous Collaborations and Future Initiatives
This strategic partnership builds on previous collaborations, including the launch of a multi-currency debit card, the Pay with Rewards program, and a co-branded airline card with Gulf Air. The new initiatives aim to deliver a premium, secure, and rewarding digital banking experience.
ila Bank’s Recognition in the FinTech Sector
ila Bank has quickly emerged as a leader in the regional fintech landscape due to its tailored approach to customer needs and its award-winning mobile application. The bank’s card portfolio, combined with its loyalty ecosystem, provides users with unmatched flexibility and benefits.
Statements from Leadership
ila Bank CEO Mohamed Almaraj emphasized, “ila has always been about the customer. Our commitment to offering customer-centric solutions is stronger than ever, especially in a rapidly cashless economy. This strategic agreement enhances our promise of ‘banking that reflects you.’”
Furthermore, Adam Jones, Mastercard’s division president for West Arabia, stated, “Our long-standing relationship with ila Bank is focused on delivering customer-first solutions that ensure a secure and rewarding banking experience. We remain dedicated to enhancing our partners’ product offerings and supporting regional growth.”
For more insights on digital banking and fintech innovations, check out our related articles on digital banking innovations and Mastercard’s initiatives.
