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BKN301 is a leading payments and banking-as-a-service provider poised to lead the fintech industry in the MENA region with its suite of technology solutions that make finance more accessible and simplified.
With its innovative solutions, the company is paving the way for a more convenient and secure financial environment, enabling individuals and businesses alike to easily manage their finances.
According to the World Bank, the Middle East and North Africa region has a large number of unbanked adults, accounting for 50% of the population. This underscores the potential for fintech companies to cater to a large segment of the population who do not have access to traditional payment services.
Modular Technology Platform
BKN301 will launch its best-in-class modular technology platform to provide state-of-the-art payment products and services to meet the financial needs and requirements of various customers.
The demand for fintech solutions has increased owing to urbanization and smart connectivity and increasing use and adoption of innovative technologies across all sectors in the MENA region.
According to an industry report, the fintech industry in the Middle East and Africa is expected to experience significant growth in the coming years, reaching $3.45 billion by 2026. The company is committed to supporting this growth by leveraging cutting-edge technology and its in-depth research into fintech and digital payments, providing financial solutions aimed at modernizing the industry.
Financial Services
To meet the industry’s evolving and emerging needs, the company will offer its full range of financial services, payments industry solutions and digital services, including 301wallet, 301pay, 301xb and 301core, all designed to precisely integrate complex systems and quickly. With the ambitious goal of increasing financial service penetration across the region, the company intends to bridge the gap and assist the development of the fintech industry through its range of solutions, while promoting financial inclusion.
The company earlier established a presence in Egypt through its partner Damen ePayment and opened a Doha commercial branch in Qatar. BKN301’s vision is to create a world without financial barriers, for which BKN301 focuses on the development of cross-border payments between countries. Cross-border payments are important in the Middle East, where two of the world’s three largest remittance corridors are located in the UAE and Saudi Arabia.
They processed $78 billion in payments in 2020,6 equivalent to 7% of the combined GDP of both countries. Two-thirds of survey respondents (67%) say bilateral arrangements for real-time settlement between countries and the expansion of digital currency transfer operators will be the main drivers of cross-border transactions over the next five years, according to a study from McKinsey – The future of payments in the Middle East. BKN301 Improve the efficiency of treasury processes, simplifying treasury, payment and token issuance services provided by third-party businesses using Banking-as-a-Service platforms and e-money models. By doing so, the company aims to become a market leader in open banking and digital payments.
efficient payment method
Steven Muccioli, Founder and CEO of BKN301, said: “The MENA region has seen a significant increase in the use and adoption of innovative technologies across all sectors, including finance. Customers are looking for greater convenience, More efficient payment methods, such as cross-border payments, that’s why we are committed to providing our partners and customers with the best services and solutions powered by cutting-edge technology.
“With the rise of new technologies and the growing popularity of innovative fintech platforms, the market has become more competitive. We believe that our professional solutions and deep knowledge of financial services will contribute to the growth and development of the fintech industry in the region. development and make financial services more accessible and efficient for customers.”
BKN301’s modular technology platform offers multiple banking-as-a-service and payment options such as online payment gateways, mobile payments, remittances and digital wallets. The business strives to integrate its solutions with cutting-edge technology and provide the most effective and efficient financial solutions to meet the specific needs of its partners and clients.
With ambitions to expand throughout the MENA region, the company’s custom solutions are designed to support regional opportunities and rapidly expanding markets. Most recently, the company participated in the Dubai Fintech Summit, where they connected with new clients and forged new alliances to diversify their business operations in the region. — trade arab news agency
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