Fintech
BKN301 features the cutting-edge BaaS orchestrator platform
BKN301 Group, a leading digital payments and Banking-as-a-Service company with a focus on the EMEA region, has introduced its cutting-edge Orchestrator BKN301 BaaS platform with the aim of radically transforming the financial landscape. The cutting-edge platform aims to empower businesses of all sizes, especially fintech companies and traditional banks, with the ability to embed financial features into their existing value propositions.
BKN301’s Orchestrator BaaS solution is a sophisticated and versatile platform that aims to address the challenges faced by fintech companies and traditional banks by building and maintaining a robust infrastructure for their financial services. Globally, the fintech landscape is evolving at a rapid pace, bringing significant benefits and challenges. Through personalization, this innovative platform allows businesses to tailor the banking and payment experience to meet their needs. The solution also offers a scalable solution with flexible APIs for market expansion, improving efficiency by eliminating significant upfront expenses and reducing time to market.
Stiven Muccioli, Founder and CEO of BKN301, said: “Our goal is to build a future where financial services are universally accessible. Through the launch of BKN301 BaaS Orchestrator, we seek to drive innovation and bridge the gap between conventional and digital experiences. The platform aims to help companies extend their services to the financial sector, improve customer engagement and create new revenue streams.”
The BKN301 BaaS Orchestrator connects several major banking systems, payment processors, and third-party services. The platform uses a modular design principle to provide organizations the freedom to choose and integrate required functionality. It works as a single technology gateway into the BKN301 Banking-as-a-Service (BaaS) platform and offers an intuitive API interface for developers to create customized 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 issues. It minimizes costs related to core banking, card issuance, payment capture (online and offline), cross-border remittances, bill payments and service top-ups. Additionally, its scalability saves costs for core banking and payment processing. It works across multiple markets with a multi-core banking platform using the same API set and front-end.
Mahesh Paolini-Subramanya, CTO of BKN301, said: “At BKN301, we seek to embrace continuous development in both 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 allows it to rapidly iterate and adapt to the changing demands of the region’s financial market.”
For the new Orchestrator BaaS platform, the company coordinates its proprietary BaaS core modules and third-party system integrations. These integration capabilities allow various financial functionalities to be incorporated into a company’s products, especially when dealing with legacy core banking systems.
The BKN301 Group offers a confluence of technical innovation, regulatory advancement and government support. The company is well positioned to revolutionize the financial landscape in another country through its commitment to offering the most effective payment solutions.
In collaboration with Damen – a leading electronic payments company and innovator in the field of digital transactions – the platform has already been used to launch the “Damen Cash” mobile application to promote electronic payments and financial inclusion in Egypt.
In line with Egypt’s Vision 2030, this collaboration aims to provide convenient and secure electronic payment solutions in line with Egypt’s financial inclusion goals and digital transformation strategy, supported by robust digital infrastructure and legislative frameworks.
“Damen Cash” aims to simplify and speed up financial transactions by reducing reliance on cash. It provides financial services and digital payments to all segments of society, including individuals with limited income and those residing in remote areas. By offering a simple and secure electronic payment method, Damen Cash allows users to access financial services more efficiently.
Additionally, the application allows users to pay monthly bills such as electricity, water and landline, as well as tuition fees, installments, donations, mobile phone top-ups and track monthly payments. The introduction of quick payment and monthly payment tracking options further improves the user experience.
Furthermore, Damen has ambitious plans to provide its customers with more convenient and efficient payment methods with the aim of increasing application adoption, achieving sustainable growth in the use of electronic payments, expanding the user and merchant base, improve user interface and customer experience and facilitate financial operations on a larger scale by partnering with financial institutions and government bodies. Furthermore, Damen will focus on developing new features and regular updates to meet user needs and market needs.
The collaboration between the two leading companies is set to transform the Egyptian fintech landscape.