BKN301 Group, a London-based leading digital payments and Banking-as-a-Service (BaaS) provider in the MENA region, unveiled its latest innovative payment solution, ‘301 Retail Account.’ The solution is a payment account that will support the MENA region’s rapidly evolving financial landscape and will cater to the unique needs of traditional banks, fintech companies, and neobanks.

The new launch is in line with the company’s recently announced strategic vision aimed at delivering cutting-edge fintech solutions that positively impact the region’s financial market. With its user-friendly interface, unparalleled security, convenience, flexibility, comprehensive features, and robust compliance measures, the ‘301 Retail Account’ is tailored to meet the specific financial needs of the Middle East as well as the global markets, allowing fintech companies, banks and neobanks to enhance their service offerings. The solution will further help promote financial inclusion and economic progress in the region.

The MENA region is experiencing a surge in digital payment and the adoption of innovative financial technologies. A recent survey by Statista indicated that a growing number of customers in the Middle Eastern region prefer digital payments for online shopping. This paradigm shift towards digital payments can be attributed to its young population and high levels of internet penetration, which sets forth a favourable opportunity for BKN301 to introduce a solution that meets these growing demands.

Stiven Muccioli, Founder & CEO of BKN301 said: “When we established BKN301, our vision was clear: It’s not just about making money; it’s about building a better life for ourself and others. In this journey, we have developed numerous solutions, and today, we are proud to see our innovations empowering companies worldwide. We are excited to introduce our latest advancement, the 301 Retail Account, to the global and Middle Eastern markets. It is designed specifically for the B2B2C sector, offering our partners the requisite tools to succeed in today’s competitive financial landscape.”

The ‘301 Retail Account’ distinguishes itself with an easy and simple onboarding process that incorporates comprehensive KYC and AML protocols, ensuring that business can get started quickly and securely. The account offers and manages – customisable debit cards, personalised spending limits, and euro-based accounts – through an easy-to-use, intuitive dashboard that utilises e-signatures and streamlines financial management. The ‘301 Retail Account’ can be easily integrated into the current product environment with its flexible integration options, such as white-label solutions for desktop, mobile, and API. This allows partners to maintain their branding while harnessing the power of BKN301’s cutting-edge technology.

Mahesh Paolini-Subramanya, CTO of BKN301 said: “The white-label payment solution offered by the 301 Retail Account serves as a key component of our BKN301 BaaS Orchestrator. It complements our comprehensive Banking-as-a-Service platform, further streamlining the process of managing accounts for our clients through our user-friendly APIs and customisable account options.”

The introduction of ‘301 Retail Account’ is a testament to BKN301’s commitment to innovation and customer-centricity. By offering flexible, secure, and user-friendly payment solutions, BKN301 is reshaping the financial landscape and contributing to the MENA region’s economic development, in addition to empowering businesses.

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