Forty seven — Connecting Financial Worlds

tharindualwis (28)in #blockchain • 7 years ago

About Forty Seven Bank

Forty Seven Bank is innovative financial technology start-up aiming to provide high quality, secure and user-friendly banking services for individual and institutional consumers, which will be fully recognised by the financial authorities and compliant with regulatory framework.

The bank is going to be specialising in digital finance services by fully supporting cryptocurrencies and traditional fiat currencies. Basic cryptocurrency procedures include sale and purchase features, investment and exchange options and crypto-saving and current accounts. Multi-Asset Account will be one of the featured innovative products offered by Forty Seven Bank — it will allow customers to have access to all their accounts in different banks and crypto wallets as well as to their investments and savings in cryptocurrency and fiat equivalents via single application. It will be possible to operate with each asset type accordingly by having only one Multi-Asset Account at Forty Seven Bank.

Values of Forty Seven Bank

Transparency;
Financial stability;
Effectiveness and user friendly procedures;
Security and privacy (data protection);
Innovativeness;
Customer satisfaction;
Market share growth and worldwide expansion;
Proﬁt for all stakeholders

· Products for private persons

Below figure presents the range of products and services that will be offered by Forty Seven Bank to private persons.

By the virtue of the new banking regulations and decentralisation of the services which optimises communication between transaction parties, the PSD2 directive imposes significant operational changes and creates single digital market in Europe where consumers can proceed their financial management from the platform which aggregates previous individual services. Forty Seven Bank in this case, outstands by the fact of the digital cryptocurrency transaction services and processing support. Forty Seven Bank clients will have an opportunity to analyse and manage all financial operations in fiat and non-fiat currencies using flexible analytical functions of our smart software. For technically advanced clients, there will be the possibility to manage a bank account via API.

· Products for business

Synergy of smart contracts and blockchain will open new unbelievable opportunities. Our team is aiming to break through traditional banking and step into the new banking perspective using the current innovative exclusive services for future advantage. We are creating not just technological bank, we are creating the bank of the future.

Below figure shows Forty-Seven Bank products and services for business clients.

Technological and operational facilities of our platform will be fully built to support customer needs where customers can pay full attention to their personal or business expertise and benefit from highly digital and cost-effective solutions when it comes to payments and transaction management. Our clients will have opportunity to easily scale up their business using our infrastructure and business model.

· Products for developers

Below figure shows Forty Seven Bank products and services for financial technology partners

All functions of our platform, from the usual activities related to account management, to opening an account, document upload, loan scoring and insurance will be created as single microservices. All these services together with the services of affiliate partners will be working via API and all will be available to our clients via secure channel.

Business will have an opportunity to completely unlock its potential by automatization of its financial and operational activities using API for connection to its server and smart contracts for execution of operations taking into account different conditions.

· Products for traders

Below figure displays Forty Seven Bank products for traders. Wide range of products and services is going to be offered to traders. There will be traditional products, as well as innovative crypto products developed and introduced by Forty Seven Bank