The BENEFIT Company was established in November 1997 by 17 commercial banks as the National ATM and Point of Sale switch of Bahrain. The BENEFIT Company was formed to enable the financial sector in Bahrain to establish strong and lasting connections with their customers from across a wide geographical base. Also, help steer these connections towards enriching the value in all their interactions with member banks and other stakeholders. Subsequently, SINNAD was founded in November 2008 by The BENEFIT Company, owning 51%, and Network International owning 49%. However, during October 2017, The BENEFIT Company acquired 100% of SINNAD’s shares, making it the sole shareholder of the company. In addition to the numerous services offered to local and region markets, a variety of outsourced services are managed through its technical arm, SINNAD.