Page 11 - BKN301 PR Report - May 2024

Exclusive Interview with Stiven Muccioli, the Founder and CEO of BKN301 - Biz Today
by making them user-friendly, secure, accessible and adaptable to diverse needs of businesses
and individuals. We aim to attain this vision by leveraging BKN301 BaaS Orchestrator, which is
our advanced and meticulously designed digital infrastructure that meets the requirements of

traditionalbanks, fintech companies and neobanks alike.

With the industry facing the challenge of accessibility and usability, we have developed our
platform to address it efficiently. Our innovative platform empowers partners to provide a
seamless banking experience to their clients, despite the constraints of location or background.

In line with one of our key goals of ensuring financial freedom, we are working towards making
basic financial services more accessible to all.

Q: Who are BKN301’s partners in the MENA region, especially in GCC, and is BKN301
planning to have an office in UAE soon?
Considering the burgeoning market for innovative financial solutions in the Middle East and

North Africa (MENA) region, we are planning to expand our footprint accordingly. In line with
our strategic plan, we have already entered into several partnerships in the MENA region,
especially in the GCC countries. Our partnership with CWallet, a fintech startup developing

cross-border payment solutions, marks a significant step forward in our efforts to enhancing
financial accessibility and inclusivity in the region. The collaboration helps us offer a cutting-
edge platform aimed at enhancing customer experiences, bolstering security measures and

adapting to the evolving demands of consumers.

Additionally, we are partnered with Damen, an electronic payment company prominent for its

advancements in digital transactions. By combining our capabilities with Damen, we launched
‘Damen Cash’, which signifies a remarkable step in our efforts to transform financial services in
Egypt. Moreover, we are still making efforts to build a significant footprint in the UAE,

particularly in light of the country’s booming fintech sector and positive business environment.

Q: What are some of the challenges that fintech startups face in the MENA region, and

how can events like the Dubai Fintech Summit help address these challenges?
Even though the MENA region is an emerging hub for fintech companies, it still poses certain
challenges for industry players. Factors such as stringent regulatory policies, less access to

funding, challenges in talent acquisition and lack of consumer confidence, create hurdles for
fintech startups to flourish in the regional market.

For a startup in its budding stage, overcoming the complexities of strict regulatory policies can
be daunting as the MENA region has diverse legal frameworks in different countries. While
establishing BKN301, we confronted various challenges, such as finding suitable fintech partners

with wide reach and understanding of local behaviours, as well as navigating intricacies of
regulatory policies in different countries. According to a recent survey, talent and recruitment is

the third biggest challenge faced by fintech companies in Saudi Arabia (43 per cent), ahead of

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