The activities and prospects of BKN301, the first Fintech company in San Marino offering new digital technologies to banks and users, are the focus of a thesis discussed last Monday, July 12, at the University of the Republic of San Marino.
The in-depth study, part of the three-year Management Engineering program, earned 25-year-old San Marino native Martina Bagnasco a score of 110/110 and was coordinated by professor Leonardo Tagliente: "Particular focus was placed on payment systems, analyzing innovative business models that transcend the use of traditional means, such as cash. This is an increasingly widespread reality, featuring new and advanced activities like the one described in the study," explains the academic. "BKN301," he continues, "is a San Marino initiative with a global market potential. It develops and provides the financial system and consumers with highly technological and reliable technical solutions."
Bagnasco's analysis addressed the situation in San Marino, placing it in a global context and offering a measure of the impact of new technologies on traditional business models: "In the future," the thesis concludes, "the banking system as we know it today is destined to disappear. Financial institutions will increasingly have to adapt to technological progress and changing user needs. There is a need to rethink the future of finance and payments due to digitalization, which will lead to the closure of many branches." Finally, it should be noted that digital tools offer rapid turnaround times and highly personalized services: "The bar for consumer expectations, both in terms of service and customer support, has risen significantly. This is something banks are no longer able to provide. To achieve this, many institutions in the sector are focusing on strategic partnerships and investments in technology to increasingly become providers of consumer-friendly financial experiences." Hence Tagliente's assessment: "The transformation that technology is enabling and supporting in the global financial sector is disruptive. Fintech has gone from a niche to a relevant segment in the current and future dynamics. Partnerships between the traditional banking and financial sector and companies like BKN301 based on new business models appear destined to be increasingly crucial."
