The fintech sector’s expansion is predominantly driven by Gen Z, with 51% of the people in
the UAE, 48% in Saudi Arabia, and 43% in Egypt opting for mobile wallets in their daily
transactions.
BKN301 Group, a leading digital payments and Banking-as-a-Service provider in the MENA
region, unveiled its cutting-edge BKN301 BaaS Orchestrator solution with the objective of
radically transforming the MENA region’s financial landscape. The cutting-edge platform
seeks to empower businesses of all sizes, particularly fintech companies and traditional
banks, with the capability to incorporate financial features into their existing value
propositions.
BKN301’s BaaS Orchestrator solution is a sophisticated and versatile platform that aims to
tackle the challenges encountered by fintech companies and traditional banks while building and maintaining a robust infrastructure for their financial services. The fintech landscape is evolving at a rapid pace, bringing forth significant benefits and challenges. Through customisation, this innovative platform allows companies to tailor the banking and payment experience to meet their requirements. The solution also offers a scalable solution with flexible APIs for market expansion, improving efficiency by eliminating significant upfront expenses and shortening time-to-market.
Stiven Muccioli, Founder and CEO of BKN301, stated: “Our goal is to build a future in
which financial services are universally accessible. Through the launch of BKN301 BaaS
Orchestrator, we seek to drive innovation as well as bridge gaps between conventional and
digital experiences. The platform aims to help companies extend their services into the
financial domain, improve customer engagement and create new revenue streams.”
The growth of the fintech sector is majorly driven by Gen Z. According to recent surveys,
almost half of respondents in the UAE (51 percent), Saudi Arabia (48 percent), and Egypt (43 percent) use mobile wallets for daily payments. BKN301 anticipates a world where financial services are secure, adaptable, user-friendly, and easily accessible.
The BKN301 BaaS Orchestrator connects different core banking systems, payment
processors and third party services. The platform uses a modular design principle to provide
organisations with the freedom to choose and integrate their required features. It serves as a
single technological gateway into the BKN301 Banking-as-a-Service Platform (BaaS) and
offers a developer-friendly API interface to create personalised banking and payment
experiences best suited to the requirements of fintech companies.
The orchestrator solves numerous issues related to digital banking, such as costs, market
scalability and migrations problems. It minimises up to 50 per cent costs on core banking,
card issuing, payments acquiring (online and offline), cross-border remittances, bill payments
and services top ups. Furthermore, its scalability saves almost 100 per cent of any future
migration costs for core banking and payment processing. It works in different markets with a multi-core banking platform using the same API set and front end.
Mahesh Paolini-Subramanya, CTO at BKN301, said: “At BKN301, we seek to
accommodate ongoing development in both its internal services and external integrations.
Our BKN301 BaaS Orchestrator offers the freedom to choose which API version to integrate.
The platform’s dedication to continuous evolution enables it to iterate rapidly and adapt to the changing demands of the region’s financial market.”
For the new BaaS Orchestrator platform, the company coordinates its proprietary BaaS core modules and third-party system integrations. These integration capabilities allow for several financial features to be incorporated into a business’s products, especially when it comes to legacy core-banking systems of banks.
BKN301 Group offers a confluence of technical innovation, regulatory progress, and
government support. The company is well-positioned to revolutionise the financial landscape in the MENA region through its commitment to offering the most effective payment solutions. In Egypt, Damen Cash, powered by BKN301, transformed traditional retail by integrating digital financial services. This easy-to-use digital wallet made financial
transactions and bill payments more efficient while fostering financial inclusivity and
generating a new revenue source.
About BKN301:
The BKN301 Group offers solutions for account management, issuing, acquiring, cross-
border, and re-designing the Banking-as-a-Service and payments approach. As a regulated
entity, it provides licenses and technology with a strong focus on Europe and fast-growing
markets, while also fostering connectivity between them.
BKN301 BaaS Orchestrator integrates core banking and payment processing services with a
single technology entry point. It combines efficiency and effectiveness, offering clients the
freedom to choose their preferred services, with the adaptability of a Contract-as-a-Service
model. With cloud-based developer-friendly APIs and blockchain technology, it enables
scalability across different countries and regulatory environments. BKN301 BaaS
Orchestrator is an ideal solution for financial institutions and fintech.
Based in London, and operational since 2021, BKN301 Group operates in EMEA with
offices in Cairo, Tbilisi, Doha, and Milan. The global presence mirrors the commitment to
revolutionising financial landscapes worldwide.
