Page 73 - BKN301 PR Report - April 2024

Revolutionising banking-as-a-service: BKN301 on bridging financial markets across Europe and MENA
Gulf Business speaks to S ven Muccioli, the CEO and co-founder of BKN301, a banking-as-a-
service pla orm headquartered in London with opera ons spanning across various geographies.

He explains why the MENA region is of special focus to his startup.

Q: What is your focus area, and which countries do you operate in?

A: BKN301 serves as a pivotal link between Europe and the Middle East/North Africa (MENA)

region. Our presence extends from London and Italy to Cairo and Doha, catering to the

emerging markets in the Gulf, North Africa, and the Middle East.

Addi onally, we have a presence in Tbilisi to cover Eastern Europe, reflec ng our commitment

to being a mul -regional en ty focused on facilita ng financial services across borders.

Q: How did you conceive the idea for this business venture?

A: Our vision at BKN301 is to pioneer a technological pla orm that empowers fintech and

neobanks, along with tradi onal banks, to embrace digital banking and banking-as-a-service

solu ons.

Recognising the burgeoning fintech landscape in the MENA region, we set out to create a robust
infrastructure that facilitates innova on and enables financial ins tu ons to leverage cu ng-

edge technology for sustainable growth.

Q: What are the key challenges in the MENA fintech space, according to you?

A: The MENA region presents significant opportuni es for fintech innova on, yet it grapples
with challenges related to financial inclusion and access to technology. Addressing the needs of

the unbanked popula on, enhancing digital remi ance services, and fostering the growth of

small businesses are paramount.

Our focus lies in overcoming these hurdles by offering cost-effec ve solu ons and leveraging
APIs to democra ze access to advanced banking services.

Q: Could you share some insights into your client base and the numbers you’re targe ng?

A: Presently, we serve major digital banks in Qatar and Egypt, boas ng a combined customer

base of over 18 million. Egypt, in par cular, stands out due to its youthful demographic and
burgeoning digital landscape, with a popula on keen on embracing digital banking.

Our goal is to expand our reach further, tapping into underserved markets and empowering

millions more with accessible, user-friendly banking solu ons.

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