BKN301 launches its BaaS Orchestration platform in MENA

By Delisha Fernandes

BKN301 Group, a digital payments and Banking-as-a-Service provider, has unveiled its BKN301 BaaS Orchestrator solution with the objective of transforming the MENA region’s financial landscape.

The 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.

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 FinTech landscape is evolving at a rapid pace, bringing forth significant benefits and challenges. Through customisation, this 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.

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). It 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 migration 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.

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.