Forty Seven is a unique project built to
create a modern universal bank both for users of cryptocurrencies and
adherents of the traditional monetary system; a bank that will be
acknowledged by international financial organisations; a bank that will
correspond to all the requirements of regulators.
A team of professionals from the worlds of
banking, finance, and IT with expertise and experience in the creation
and licensing of payment systems, and building of electronic financial
institutions will work to realise the goals of the project.
Our bank will become the biggest structure
that corresponds to all the requirements of regulators and the EU
Payment Services Directive 2 (PSD2). We will comply with Know Your
Customer (KYC) and Anti-Money Laundering (AML) policies in order to
guard against agents of the “grey” market.
Forty Seven is based on three principles:
relevance, convenience, and security. Our specialists use up-to-date
technological developments such as blockchain, biometrics, smart
contracts, machine learning and many others. If you are interested in
the specific details of our establishment and creation of a hi-tech
bank.
Forty Seven Mission
The
mission of Forty Seven Bank and management team is to provide safe,
innovative and user-friendly financial services and products to our
customers – individuals, businesses, developers, traders, financial and
governmental institutions.
Forty
Seven Bank is a bridge capable of connecting two financial worlds and
establishing efficient communication between them, a communication that
will open up possibilities to level up the whole modern financial
system.
Forty Seven Vision
Forty
seven believe that after PSD2 directive comes into force in the
beginning of 2018, the future of EU financial sector will change
significantly. Forty Seven Bank system will be developed in accordance
to upcoming regulatory framework from the early stages – it will give
Forty Seven Bank competitive advantage in terms of time and costs. This
is a significantly beneficial aspect prior to the traditional banking
which has to impose reorganisational procedures in order to meet new
standards.
The
big portion of financial sector market share will be shifted to
financial technology start-ups that will be able to oer and provide
unique products and services together with high-quality customer and
technological support. We aregoing to take the leading position among
these start-ups and become one ofthe pioneers in the changing financial
world.
Our Value
1. Transparency
2. Financial stability
3. Effectiveness and user firendly procedures
4. Security and privacy (data protection)
5. Innovativeness
6. Customer satisfaction
7. Market share growth and worldwide expansion
8. Profit for all stakeholders
Forty Seven Is Innovative products for everyone
The featured product is a Multi-Asset Account for private customers with a tied card.
- Remote identification and authorisation based on passport and biometric data
- Unique combination of payment tools – SWIFT, credit and debit cards, e-wallets, secured cryptocurrency payments
- Transactions
with any type of cryptocurrency through the bank’s application and with
no need to wait for current exchanges. Uploading, withdrawal, and
conversion by any pair is available
- Wide range of services including crediting, insuring, invoice presentation, credit/debit card management etc.
- Cross-platform access for clients to manage accounts opened with any European bank that complies with the PSD2 directive
- Convenient and user-friendly UI
- Analysis
that helps a client to make the right financial decisions via services
of a personal manager created on the basis of machine learning
algorithms
Forty Seven is Propositions for business
Business products oriented towards small and medium-sized enterprises.
- Managing an account via Application Programming Interface (API), creation of financial applications
- Receiving
payments from a merchant in both cryptocurrencies and in fiat money on
the company’s account (card, SWIFT) using a form or API
- Mass payouts for marketplaces
- Loyalty management for clients using big data
- Factoring
services based on the operation of machine learning and big data
(artificially intelligent algorithms able to predict the probability of
repayment of credit as well as timeliness of repayment from a company)
- Escrow services
- Mobile application with biometric identification for multi-currency transactions
Tools and services for external developers
- Opportunity to provide Forty Seven banking services under your own brand (white label)
- API
access that allows the development and implementation of modern
financial services based on Forty Seven infrastructure and processes
- Holding DevDays conferences for independent developers
- A showcase of financial applications using Forty Seven API
Products for Private Persons
Account Management : Forty Seven Bank clients will have a lot of possibilities
related to account management. Having access to just one application, a
customer will have access to all his accounts in dierent banks at one
place it will be easy to manage personal finance in such a way. Besides
that, a client is going
to have access to all his crypto wallets, investments in traditional
financial assets (stocks, bonds, commodities, etc.) and credit or debit
cards. This is a featured product oered by the bank and it is called a
“Multi Asset Account”. The product will reduce complexities of using
dierent types of assets by centralising all the financial activities of
our private customers at our single system. It will be easy to quickly
transfer resources from one fiat currency to another, or from fiat
currency to a digital currency, or vice versa. Moreover, transaction
costs will be reduced substantially by doing that at Forty Seven Bank.
Our App Platform will also allow clients to use several analytical
applications that might help in personal finance management.
Invoicing : Forty
Seven Bank will support its customers who are oering small products and
services as individuals without having a company. Such individuals
might be freelancers, copywriters, developers, translators, handcraft
professionals, etc. The bank will provide user friendly and simple
invoicing services for such customers. By using the service, a client
will be able to automatically issue invoices and receive both fiat and
nonfiat funds to cover them.
Deposits and Loans : The bank will oer deposits and loans in traditional
fiat currencies like EUR, USD and others, as well as in non-fiat
digital currencies like BTC, ETH and others. At the moment, there is no
financial institution
in the world that is oering similar products in non-fiat digital
assets, whereas we see that there is huge potential in developing and introducing classic banking products for non-fiat digital currencies.
Investments and Brokerage : Individual
clients will have opportunities to create and manage their investment
portfolio by using investment and brokerage services provided by Forty
Seven Bank. The bank is going to develop its own exchange in addition to
partnering exchanges that could be connected to by using Forty Seven
Bank platform via API.
Other Services : The bank will also oer traditional products and services
like insurance, payments and transfers, payment history and analysis,
cash withdrawals at Forty Seven Bank Smart ATMs, as well as at ATMs
of our partnering banks. Additionally, Forty Seven Bank will provide
smart support with integrated machine learning technologies to our individual customers — it will help to resolve issues between the bank and its customers in evective way.
Features and technologies
Based
on the possibilities of the banking and cryptocurrency industries, we
will take the best of the two spheres using innovative and proven
technologies in the fields of finance, analytics, and data security.
Forty
Seven Bank will provide open, flexible and well-documented API covering
the majority of banking services. We will launch our own financial
application platform that uses our API. By attracting clients and
external developers, we plan to turn it into an efficient ecosystem with
constantly growing value.
Application
of smart contracts to automate financial processes, thereby enabling us
to make deals and give credits with no risk of fraud. The
implementation of machine learning technology will allow the creation of
a personal manager to foresee all wishes of the client. A virtual
interlocutor will assist in the reallocation of cash flows and will
provide timely current financial information.
Biometric
technologies and blockchain will enable users to open an account
distantly and access it via smartphone and ATM without using a card. In
combination with cryptographic encryption, these developments will
provide increased security of personal and payment data.
Forty Seven Token
What is a Forty Seven Token:
It’s
a token that represents a part in Forty Seven Bank’s infrastructure and
grants the wielder a priority place in the bank’s loyalty program.
Holders of FSBT tokens have the right to receive yearly bonuses in the
form of FSBL — Forty Seven Bank loyalty tokens. Besides that, FSBT
tokens are a crucial economic part of Forty Seven Bank’s
ecosystem — they will be needed in order to access the full range of
products and services. After the crowdfunding campaign is finished, FSBT
tokens will be available for trade at various cryptocurrency exchanges.
What is a token used for:
20%
of the bank’s annual net profit will be invested into the loyalty
program. Using smart contracts, each FSBT token holder will be able to
receive their FSBL tokens based on the amount owned and afterward,
exchange the FSBT tokens for different goods offered by the loyalty
program (electronics, household items, airplane tickets, banking
services, insurances, etc.). All FSBT token holders will receive the
right to participate in Forty Seven Bank’s yearly crypto community
development program and decide which projects will be supported by the
bank and its shareholders.
Abbreviation: FSBT.
Control over emission: is provided by the system of interconnected smart contracts.
Rate: Fixed, value of one token — 0.0047 ETH.
Maximum amount of tokens to be generated: 55 319 149 FSBT (incl. bonus tokens, tokens for bounty and founders).
Minimum budget to start the project: 18 000 ETH (5M EUR).
Hardcap: 180 000 ETH (50M EUR).Accepted cryptocurrencies on ICO: ETH, BTC.
ICO round 1: November 16 — December 16, 2017.
ICO round 2, 3: Q1 2018 (TBD).
How To Participate On Forty Seven
2. Complete the registration.
Road Map
Token Distribution
Forty Seven Listed On
Detail Information :
By.Trinurtrii
