BKN301 has announced the launch of its BaaS Orchestration platform, aiming to optimise the financial landscape and accelerate the development of banks. Following this announcement, the BKN301 Group has launched its BKN301 BaaS Orchestrator solution in order to optimise the overall financial landscape.

The platform is expected to offer businesses of all sizes, particularly fintech companies and traditional banks, the possibility to incorporate financial features into their already existing value propositions. The platform has already been used to launch the `Damen Cash` Mobile Application in partnership with Damen, aimed to drive electronic payments and financial inclusion in the region of Egypt. BKN301 will continue to focus on meeting the needs, preferences, and demands of customers and clients in an ever-evolving market, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the industry.

More information on the announcement BKN301’s BaaS Orchestrator solution was developed as a versatile platform that is expected to tackle the challenges encountered by fintech companies and traditional banks, while also building and maintaining a robust infrastructure for their financial services. Around the world, the fintech landscape is currently evolving at a rapid pace, bringing forth significant challenges and benefits to businesses and companies. Through customisation, the platform is expected to allow firms to tailor the banking and payment experiences in order to meet their requirements.

This solution also provides a scalable service with flexible APIs for market expansion, while improving efficiency by eliminating significant upfront expenses and shortening time-to-market processes at the same time. In addition, it will also optimise the manner in which companies extend their solutions into the financial domain, improve customer engagement, and develop new revenue streams. The BKN301 BaaS Orchestrator connects different core banking systems, third-party services, and payment processors, while also leveraging a modular design principle in order to provide organisations with the freedom to choose and incorporate their required features.

In addition, it also serves as a single technological gateway into the BKN301 BaaS and delivers a secure API interface in order to create personalised banking and payment experiences, best suited to the requirements of fintech companies. At the same time, the orchestrator is expected to solve numerous issues related to digital banking, such as market scalability migrations problems, and costs. It also mitigates costs on core banking, payment acquiring (offline and online), cross-border remittances, card issuing, bill payments, and service top-ups.

Its scalability will save costs for core banking and payment processing, while also working in different markets with a multi-core banking platform using the same API set and front end. For the new BaaS Orchestration platform the company also coordinates its proprietary BaaS core modules and third-party system integrations. These capabilities allow for several financial features in order to be incorporated into a business’s products, especially for legacy core banking systems of banks and financial institutions.

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