San Marino. The international expansion of BKN301 Tech continues: the group lands in Qatar with SBS
In a JV with Sheikh Abdulla Eid MT Al-Thani, a new company established in Doha: a strategic step to reach the Arabian Gulf countries and establish itself as a reference operator in Banking as a Service.
The international expansion of the BKN301 group continues, reality fintech offering Banking-as-a-Service solutions with a focus on high growth markets that, thanks to BKN301 Tech Srl, the group’s technological company, lands in Qatar in partnership with Soft Lab Business Solutions & Consulting WLL (SBS).
Soft Lab Business solutions and WLL consulting (SBS), founded by Sheikh Abdulla Eid MT Al-Thani, provides consultancy and tools capable of covering all the needs of companies, accompanying them on a path of evolution capable of increasing productivity and innovation processes in Qatar.
It was in line with the objectives of the JV and with the dynamics of the geographical area of interest created the new company “BKN301 Software Design WLL“. The company is headquartered in Doha, a strategic location that allows direct access to the entire Arabian Gulf area.
This new step is highly strategic for the BKN301 group, which aims to establish itself in high-growth markets as a reference operator in Banking as a Service. The Arabian Gulf and the countries bordering it represent a geopolitical area characterized by strong demographic growth and a low rate of use of modern digital technologies applied to the world of payments, with a number of adults who, however, have a mobile phone that has already reached the 83% of the population.
However, interest in digital payments and innovative banking services is growing, just think that according to a report by Statesman[1]the total value of digital operations in the country will reach $ 5.58 billion by the end of 2022 and over the next 5 years it will continue to grow with a CAGR of 13.4% reaching $ 10.47 billion in 2027.
Add to this the importance of digital expansion which ‘helping local SMEs to expand their businesses on a global scale, based on the blockchain which enables financial operations and speed.
Stiven Muccioli, Founder and CEO of BKN301, comments: “With the opening of the new company in Doha, we lay the foundations to expand throughout the MENA region – Middle East and North Africa. “BKN301 Software Design WLL” aims to bring new, safe and fast digital financials to high-growth countries that still suffer from a scarce supply of innovative solutions that can accompany them in this transition. We believe that the opportunities offered by the digitization of these services represent an extraordinary lever of growth and evolution for the economy of the countries of this area. A vision you share that we also share with your partner “.