Nowdays, banking and financial services industries have been substantially affected by technological innovations in digital asset world. Over the last decade, traditional banking aspects and business models have changed significantly in order to match the demands of constantly growing consumer needs.Moreover, new directives like Payment Services Directive 2 (PSD2) oblige classic banks to make important steps ahead in technological provision of many aspects associated with everything connected to the banking system and its procedures. This requires classic banks to invest huge resources in order to rebuild the system completely. In this case opening a new bank and building innovative modern structure from the early beginning requires much less investments and can be done more quickly and effectively.Forty Seven Bank business model is driven by its mission, vision and values. Business model is aimed to target current and foreseeable future needs of the clients from both worlds - crypto and non-crypto - it also fully supports latest blockchain, smart contract, API, biometric and machine learning technologies which make the bank unique financial institution. Forty Seven Bank is going to become disruptive banking institution which changes the way you think about the banks and how they work.
Do you know that the emergence of new technological opportunities have entailed the expansion of individual and institutional consumers’ demands in ensuring particularised financial service provision and their regulatory stipulation? Moving far from the obsolete financial products due to new challenges and ideas via improvement of the initial models, merging them into integrated complex systems based on technological accompaniment eventfully expands financial horizons into digital asset and decentralised market technology.
The trend of moving away from centralised to decentralised markets was introduced by the European Commission with Payment Services Directive (PSD) followed by PSD2 which comes into force next year which obliges financial institutions to grant the access to their various products and services via Application Programming Interfaces (APIs). Successful integration of the directive will create the single trade and transaction market which also will bring users closer to the digitals assets.
So, Based on the advertised fundamentals, the team members of Forty Seven have carefully assessed market potential, technological opportunities and came to an assertion of building an innovative specialised financial institution, which would build secure transaction unit between monetary economies and digital finance. Forty Seven Bank will be a fully digital innovative branchless financial institution which complies with all EU directives, Basel III, Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA) and Bank of England requirements.
Let's get to know more about Forty Seven Bank. Forty Seven was founded by the information technologies, finance, economics, marketing and game industry professionals in 2017. 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 oered by Forty Seven Bank – it will allow customers to have access to all their accounts in dierent 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.
The mission of Forty Seven Bank is to create innovative, flexible and open Application Platform for financial technology developers, who will be able to operate under the roof of Forty Seven Bank, having access to banks infrastructure and customer base. They will give opportunity to developers with small or medium capital to create white label applications which will be able to compete with traditional banks. Their Bank as a Service (BaaS) solution will disrupt financial sector of the European Union by reducing barriers to entry the fintech market.
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 oered by Forty Seven Bank – it will allow customers to have access to all their accounts in dierent 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.
The most important thing is why we should participate on this project?? Forty Seven Bank is going to be the first in the world to launch a loyalty program of the bank based on tokens. Token holders of FSBT tokens will be top priority clients of the bank according to the loyalty program. The bank is going to invest 20% of net profit for the previous year into the loyalty program, issuing FSBL tokens that are distributed proportionally among token holders. Not only that, there is a loyalty Program that allow FSBT Token holders will have the right to request FSBL tokens every year using loyalty smart contract. Token holders will have opportunity to exchange FSBL tokens into various products and services in Forty Seven Bank loyalty shop.Such products and services include: airplane tickets, hotel bookings, various gift cards, mobile phones, laptops, gadgets, clothing, Forty Seven Bank products and many others. Not only token holders will receive FSBL tokens but also, other customers of the bank will be able to get them as part of loyalty program for different products and services.
I 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. They are going to take the leading position among these start-ups and become one of the pioneers in the changing financial world.Their value such as Transparency, Financial stability, Effectiveness and user firendly procedures, Security and privacy (data protection) Innovativeness, Customer satisfaction, Market share growth and worldwide expansion, Profit for all stakeholders is really promising.
FSBT is an Ethereum-based token that follows the ERC-208 standard. ERC-20 standard (EIP:20 from September 11, 2017), the code of which is open sourced at Github9 guarantees that Ethereum-based tokens will operate in crypto token ecosystem in the future in a predictable way. Holders of such tokens completely control their digital assets in Ethereum blockchain without the need to use any other special software.
Now maybe there is a question on your mind, how to participate in this project? It's easy, you can go into their website https://www.fortyseven.io/ to purchase some tokens. But you need to be quick because they reached the softcap already and half way to hardcap ! don't miss your opportunity !!
Smart contract platform: Ethereum blockchain
Contract Type: ERC20
Token: FSBT
Maximum number of tokens to be issued: 11,063,829 FSBT
Token distribution will be as follows:
ICO:
1st Round: Nov 16 – Dec 16, 2017.
2nd Round: Dec 17 – March 31, 2018
Soft Cap: 3600 ETH
Hard Cap: 36,000 ETH
Minimum per customer: unlimited
Maximum per customer: unlimited
Accepted currencies: ETH, BTC, USD, EUR
During the ICO a bonus program is offered:
1st Round: 30%
2nd Round: 20%
Forty Seven is offering unique benefits to contributors during ICO and future token holders of Forty Seven Bank Token (FSBT). ICO contributors will have wide range of benefits in terms of products and services of Forty Seven Bank, as well as possibilities to multiply the contribution, as tokens will obviously be demanded on secondary market. The more detailed explanation of this is summarized in the document “Token Holders Benefits”.
Tokens will be given in exchange for Ethereum (ETH) and Bitcoin (BTC). The price of one token is 0.0047 ETH. Total amount of tokens generated will consist of tokens sold during three rounds of ICO, bonus tokens and tokens generated for founders, advisors and bounty campaign.
In their opinion currently ICO is the best and fastest way to attract financing for interesting projects, especially for those that are community driven with the aim to develop important infrastructure elements related to cryptocurrencies. We believe that ICO can boost innovation, as attracting funds via ICO procedure companies do not have to go through traditional bureaucratic procedures. Moreover, as ICO is conducted via smart contracts and blockchain, everything is transparent and project authors get full responsibility for successful realization of the idea.
ICO also gives opportunity for people from dierent countries to contribute their digital assets into projects and teams situated in other countries. In traditional economies there are many restrictions and limitations for individuals to participate in such activities and there are no possibilities for people to contribute relatively low amount of funds into projects with promising non-financial benefits. Forty Seven Bank provides only non-financial benefits to our contributors and future holders of FSBT tokens. However, over time i believe that thanks to these benefits the value of tokens might increase and early contributors will have possibility to sell them, if they are willing to do so.
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Do you know that the emergence of new technological opportunities have entailed the expansion of individual and institutional consumers’ demands in ensuring particularised financial service provision and their regulatory stipulation? Moving far from the obsolete financial products due to new challenges and ideas via improvement of the initial models, merging them into integrated complex systems based on technological accompaniment eventfully expands financial horizons into digital asset and decentralised market technology.
The trend of moving away from centralised to decentralised markets was introduced by the European Commission with Payment Services Directive (PSD) followed by PSD2 which comes into force next year which obliges financial institutions to grant the access to their various products and services via Application Programming Interfaces (APIs). Successful integration of the directive will create the single trade and transaction market which also will bring users closer to the digitals assets.
So, Based on the advertised fundamentals, the team members of Forty Seven have carefully assessed market potential, technological opportunities and came to an assertion of building an innovative specialised financial institution, which would build secure transaction unit between monetary economies and digital finance. Forty Seven Bank will be a fully digital innovative branchless financial institution which complies with all EU directives, Basel III, Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA) and Bank of England requirements.
Let's get to know more about Forty Seven Bank. Forty Seven was founded by the information technologies, finance, economics, marketing and game industry professionals in 2017. 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 oered by Forty Seven Bank – it will allow customers to have access to all their accounts in dierent 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.
The mission of Forty Seven Bank is to create innovative, flexible and open Application Platform for financial technology developers, who will be able to operate under the roof of Forty Seven Bank, having access to banks infrastructure and customer base. They will give opportunity to developers with small or medium capital to create white label applications which will be able to compete with traditional banks. Their Bank as a Service (BaaS) solution will disrupt financial sector of the European Union by reducing barriers to entry the fintech market.
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 oered by Forty Seven Bank – it will allow customers to have access to all their accounts in dierent 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.
The most important thing is why we should participate on this project?? Forty Seven Bank is going to be the first in the world to launch a loyalty program of the bank based on tokens. Token holders of FSBT tokens will be top priority clients of the bank according to the loyalty program. The bank is going to invest 20% of net profit for the previous year into the loyalty program, issuing FSBL tokens that are distributed proportionally among token holders. Not only that, there is a loyalty Program that allow FSBT Token holders will have the right to request FSBL tokens every year using loyalty smart contract. Token holders will have opportunity to exchange FSBL tokens into various products and services in Forty Seven Bank loyalty shop.Such products and services include: airplane tickets, hotel bookings, various gift cards, mobile phones, laptops, gadgets, clothing, Forty Seven Bank products and many others. Not only token holders will receive FSBL tokens but also, other customers of the bank will be able to get them as part of loyalty program for different products and services.
I 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. They are going to take the leading position among these start-ups and become one of the pioneers in the changing financial world.Their value such as Transparency, Financial stability, Effectiveness and user firendly procedures, Security and privacy (data protection) Innovativeness, Customer satisfaction, Market share growth and worldwide expansion, Profit for all stakeholders is really promising.
FSBT is an Ethereum-based token that follows the ERC-208 standard. ERC-20 standard (EIP:20 from September 11, 2017), the code of which is open sourced at Github9 guarantees that Ethereum-based tokens will operate in crypto token ecosystem in the future in a predictable way. Holders of such tokens completely control their digital assets in Ethereum blockchain without the need to use any other special software.
Smart contract platform: Ethereum blockchain
Contract Type: ERC20
Token: FSBT
Maximum number of tokens to be issued: 11,063,829 FSBT
Token distribution will be as follows:
ICO:
1st Round: Nov 16 – Dec 16, 2017.
2nd Round: Dec 17 – March 31, 2018
Soft Cap: 3600 ETH
Hard Cap: 36,000 ETH
Minimum per customer: unlimited
Maximum per customer: unlimited
Accepted currencies: ETH, BTC, USD, EUR
During the ICO a bonus program is offered:
1st Round: 30%
2nd Round: 20%
Forty Seven is offering unique benefits to contributors during ICO and future token holders of Forty Seven Bank Token (FSBT). ICO contributors will have wide range of benefits in terms of products and services of Forty Seven Bank, as well as possibilities to multiply the contribution, as tokens will obviously be demanded on secondary market. The more detailed explanation of this is summarized in the document “Token Holders Benefits”.
Tokens will be given in exchange for Ethereum (ETH) and Bitcoin (BTC). The price of one token is 0.0047 ETH. Total amount of tokens generated will consist of tokens sold during three rounds of ICO, bonus tokens and tokens generated for founders, advisors and bounty campaign.
In their opinion currently ICO is the best and fastest way to attract financing for interesting projects, especially for those that are community driven with the aim to develop important infrastructure elements related to cryptocurrencies. We believe that ICO can boost innovation, as attracting funds via ICO procedure companies do not have to go through traditional bureaucratic procedures. Moreover, as ICO is conducted via smart contracts and blockchain, everything is transparent and project authors get full responsibility for successful realization of the idea.
ICO also gives opportunity for people from dierent countries to contribute their digital assets into projects and teams situated in other countries. In traditional economies there are many restrictions and limitations for individuals to participate in such activities and there are no possibilities for people to contribute relatively low amount of funds into projects with promising non-financial benefits. Forty Seven Bank provides only non-financial benefits to our contributors and future holders of FSBT tokens. However, over time i believe that thanks to these benefits the value of tokens might increase and early contributors will have possibility to sell them, if they are willing to do so.
Website
Telegram
Medium
Bitcointalk Forum
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