Page 11 - BKN301 PR Report - March 2024

Stiven Muccioli, Founder and CEO of BKN301, stated: “By introducing the BKN301 BaaS

Orchestrator in Qatar, we aim to empower banks and fintech organisations to provide more
innovative financial services and contribute to the growth of a dynamic fintech ecosystem in

the country. The platform helps companies to extend their services into the financial domain,

improve customer engagement and develop new revenue streams.”

Global Data projects that Qatar’s information and communications technology (ICT) spending
will grow at a compound annual growth rate of (CAGR) of 9.2 per cent to reach USD 9 billion

by 2024. With its USD 200 billion investment program, Qatar has exemplified its steadfast
commitment to technology investments as well as attracting foreign direct investment (FDI)

and international talents.

By using a modular design principle, the platform provides organisations with the freedom to

choose and integrate their required features as well as offer a developer-friendly API interface

to create personalised banking and payment experiences. The orchestrator reduces up to 50 per
cent costs on core banking, card issuing, payments acquiring (online and offline), cross border

remittances, bill payments and services top ups. Its scalability further allows to save almost
100 per cent of any future migration costs for core banking and payment processing. Moreover,

it uses the same front end and API set across several markets with a multi-core banking
platform.

Mahesh Paolini-Subramanya, CTO at BKN301, said: “At BKN301, we seek to
accommodate ongoing development in both our internal services and external integrations.

Through our BaaS Orchestrator platform, we aim to provide the freedom for fintech companies
and banks in Qatar to choose which API version to integrate into their services. The platform

is dedicated to constant development, which enables it to iterate rapidly and adapt to the shifting
demands of Qatar’s financial market.”

For the BaaS Orchestrator platform, the company coordinates its proprietary BaaS core
modules and third-party system integrations. These integration capabilities enable a range of

financial operations to be incorporated into a business’s products, especially when it comes to

legacy core-banking systems.