Page 11 - BKN301 PR Report - May 2024
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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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