Forty Seven : Finance becomes more integrated and easy to use digital assets

This time I will discuss about Forty Seven Bank, starting from the introduction, Mission, vision and others. Listen well what I explain.

INTRODUCTION

The rapid development of technology has had massive impact on the financial service industry and has introduced new roundof development.

  The emergence of new technological opportunies have entalled the expansion of individual and institutional consumer' demands in ensuring particularised financial service provision their regulatory stipulation.

  Moving away from the obsolete financial product due to new challenges end ideas via improvementof the initial models,merging them into intergrated complex system based on technological accompaniment eventfully expands financial horizons into digital asset and decentralised market technology.

One of the most significant breakthroughs expected in the financial services technology is already expected in a couple of years' time.

  The trend of moving away from centralised to decentralised market 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 wil create the single trade and transaction market which also will bring user closer to the digitals assets.

  According to CoinMarketCap;.there are now around 800 crypto assets which are worth a total of up to 150B USD . There's  a proposition that cryptocurrencies could be valued at 5T USD by 2022 in market capitalisation.

  International Monestary Fund (IMF), the specialised agency of the United Nations,issued statement which encourages financial institutions to consider financial technoglogy cryptocurrency investments due potential future exposure .In fact ,few major finacial institutions as People's Bnak of China and Danish Central Bank are already coopering in thisdirection.

  Based on the advitised fundamentals,the team member of cal opportunities and came to an assertion of buliding an innovative specialised financial instituion ,which would build secure transaction unit between monetary economies and digital finance.

  Forty Seven Bank will be a fully digital innovative branchiess financial institution which complies with all EU directives, Basel III,Financial Conduct Authorty (FCA),Prudential Regulation Authority (PRA) and Bank of England requirements.

Forty Seven team is generating funds via Initial Coin Offering (ICO) Procedure to make our innovative ideas come true.

- to build the bridge between cryptocurrency world and traditional monetary system .We will unite the community of digital asset user with more conservative individuals under the roof of Forty Seven Bank.

About Forty Seven Bank

Fourty Seven was founded by the information technologies ,finance,economics,marketing and game industry professionals in 2017

Forty Seven Bank is onnovative financial technology start-up

aiming to provide high quality ,secure and user frendly banking services for individual and institutional consumers.which will be fully recoginised by the financial authorities and compliant with reguatory framework.

The bank is going to be specialising in digital finance services by fully supporting cryptocurrency and traditional fiat ,currencies Basic cryptocurrencies procedures include sale and purphase features,investment and exchange options and crypto saving andcurries account. 

  Multi asset Account will be one of the featured innovative products offered by Fourty Seven Bank - it will allow customers to have access to all their accounts in diffrent banks and crypto wallets as wll as to their investments and saving s in cryptocurrency and fiat equavalents via single application.It will be posible to operate with each asset type accordingly by having only one Multi Asset Account at Forty Seven .

Our team is going to devel . op a PSD2 compliant system.

with intergrated blockchain smart contract ,API,bionetric and machine learning technologies.

We will offer unique crypto products like bonds ,future and options.Our goal is to invent  such market place and take the leading position in both short and long term perspectives. Companies will be able to attract finances via product invented by Fourty  Seven Bank - Cryptobonds. Cryptobonds will be traded on various exchange platforms (mainly at the one development by Forty Seven Bank)

FORTYSEVEN UNITED is incorporated in London ,United Kingdom

  there are three main reasons for this particular domicle location:

the government of the United Kingdom and regulatory authorities have advanced favourable conditions towards cryptocurrencies and other digital asset initiatives.

London itself is a major financial centre which gives access to significant share of the foreign exchange market out the world's total foreign exchange dealings. Having this in mind could an assertion that London could provide solid base for cryptocurrency services claimsand advancement .

Forty Seven team already has had successful experience of developing financial technology products and their full legal registration procedure completion in the UK regulatory framework - FCA

Uniqueness of Forty Seven Bank will be a full technological and legal equipment for cryptocurrency processing and treatment.

  In the absence of direct competitors, the bank believes that there could accumulate significant demand for product and services of the bank at the first glance which will create the constructive base for healthy growth in long term.

  During the last half year,total market capitalization of all cryptocurrencies has risen by seven times. In our opinion ,currently ,the market is in its early stage and there is great potential in new projects aimed at invention and development of ecosytem and insfrastructure projects for cryptoworld . We believe that Forty Seven Bank will be the first in its kind and will take the leading position on the market in short period of time.

  During the last year,ICO has become a widely used tool for cryptocurrency holders to contribute resources into different projects. ICO has also become another good option for companies to generate finances.

However ,the market is nosttky unregulated .Companies have also the problem of translating garthered funds into fiat currencies and use them as capital ,as according to general accounting principles it is neither equity not liabilty . We believe that ICO finacing tool is great potential market and phenomenonthat shifts the paradigm of commonly used accounting principles. Forty Seven Bank is going to support thecontributors by providing open source due diligence on ICO  project and will become the rating agency for them .

  Additionally ,we will help the project with escrow services and smart contract development.Companies will also have opportunity to resolve accounting and legal issues connected to ICO using the services of the bank and domestic legal consulting agency.

Mission ,Vision and Values

  The mission of forty Seven Bank and management team is ti provide safe,

innovative and user friendly finacial services and  products to our customers individuals ,bussineses ,developers,trader,financial and governmental insstitutions.

  Our range of roduct will unite cryptoworld and traditional finance world and grant new unique oppoturnities ti both of them.

  We believe that after PSD2 directive comes into force in the beginning of 2018 ,the future of EU Financial sector will change significatily . 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 coasts. This is a significantly beneficialaspect prior to the traditional banking which has to to impose reorganisational procedures in order to meet new standards.

  The big portion of financial sector market share will be shifted to financial technolgy start upsthat will be able to offer and provide unique products and services together with high quality customer and technological support. We are going to take the leading position among these start ups and become one of the pioneers in the changing financial world.

   Our values are:

• Transparency
• Financial stabillty:
• Effectiveness and user firendly procedures:
• Securty and privacy (data protection):
• Innovativeness
• Customer satisfaction:
• Market share growth and worldwide expansion:
• Profit for all stakeholders.

Products and Services

Products for Private Person

Forty Seven Bank is aiming to providebroad traditional and digital financial and service spectrum for individual client.

Products for Private Persons

  Together with secured remote on line identification,automated scoring ,due diligence and AML of the client,customers could proceed with quick and secure banking . The bank is going to do that according to latest technologies using biometrics. The use of biometrics in the banking sector has proven its effectiveness and precision and that is why it is rapidly growing over the last years and is yet far from is peaks.

  After the full identification of the potential client and futher registration in the operational database is completed ,the client can access the following services provided by Forty Seven Bank IBAN ,accessto secure crypto wallets and tokens, credit and debit cards,personal and travel insurance,loans,access to Forty Seven Bank App Platform with wide range of applications invoicing ,investment and brokerage service.etc.

Product for private person

figure1 below present the range of products and service that will be offered by Forty Seven Bank to private persons.

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

ROADMAP

TEAM 

Thank you for your attention may be what I write can be useful for those who read and add insight, more or less language and writing I apologize, so thank you.

Bitcointalk:https://bitcointalk.org/index.php?action=profile;u=1139486;sa=summary
Eth:0x5F53C937FD1cc13c75B12Db84F61cbE58A4a255e

More Information

Website:https://www.fortyseven.io/
Whitepaper:https://drive.google.com/file/d/0BzvESRkgX-uDeHc1QjRzbHRBelU/view
Medium:https://medium.com/@FortySeven47
Telegram:https://t.me/thefortyseven
Bounty:https://bitcointalk.org/index.php?topic=2225653
Youtube:https://www.youtube.com/watch?v=Kgr9YxmmnBk