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. Globally, 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 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 costs on core banking, card issuing, payments acquiring (online and offline), cross-border remittances, bill payments and services top ups. Furthermore, its scalability saves 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 a different country through its commitment to offering the most effective payment solutions.

In partnership with Damen - a leading electronic payment company and innovator in the field of digital transactions - the platform has already been used to launch “Damen Cash” Mobile Application to drive 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 that align with the goals of financial inclusion and Egypt’s digital transformation strategy, supported by robust digital infrastructure and legislative frameworks.

’Damen Cash’ aims to streamline and expedite financial transactions while reducing the reliance on cash. It provides financial services and digital payments for all segments of society, including individuals with limited income and those residing in remote areas. By offering an easy and secure electronic payment method, Damen Cash enables users to access financial services more efficiently.

Additionally, the application enables users to pay monthly bills such as electricity, water, and landline bills, as well as university fees, instalments, donations, mobile phone recharges, and track monthly payments. The introduction of quick payment options and monthly payment monitoring further enhances the user experience.

Furthermore, Damen has ambitious plans to provide its customers with more convenient and efficient payment methods aiming to increase the adoption of the application, achieve sustainable growth in electronic payment usage, expand the user and merchant base, improve the user interface and customer experience, and facilitate financial operations on a wider scale by collaborating with financial institutions and government entities. Additionally, Damen will focus on developing new features and regular updates to meet user needs and market requirements.

The collaboration between both the leading companies is set to transform the Egyptian fintech landscape.