FORTY SEVEN BANK : Connecting Financial Worlds

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

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.

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 team is going to develop a PSD2 compliant system

with integrated blockchain, smart contract, API, biometric and machine learning technologies.Forty Seven will offer unique crypto products like bonds, futures and options. Forty Seven 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 Forty Seven Bank – Cryptobonds. Cryptobonds will be traded on various exchange platforms (mainly at the one developed by Forty Seven Bank).

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 products 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 Forty Seven opinion, currently, the market is in its early stage and there is great potential in new projects aimed at invention and development of ecosystem and infrastructure projects for cryptoworld. Forty Seven 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 dierent projects. ICO has also become another good option for companies to generate finances.

Mission of Forty Seven Bank

The mission of Forty Seven Bank and management team is to provide safe, innovative and user-friendly financial services and products to Forty Seven 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.

The mission of Forty Seven Bank and management team is to provide safe

Innovative and user friendly financial services and products to Forty Seven customers individuals, businesses, developers, traders, financial and governmental institutions. Forty Seven range of products will unite cryptoworld and traditional finance world and grant new unique opportunities to both of them.

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 hifted 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. Forty Seven are going to take the leading position among these start-ups and become one of the 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

Products and Services - Product for Private Persons

Forty Seven Bank is aiming to provide broad

traditional and digital financial products and

services spectrum for individual clients.

Product for Private Person

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 eectiveness and precision and that is why it is rapidly growing over the last years and is yet far from its peaks.

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

Product for Private Persons

Figure 1 below presents the range of products and services that will be oered by Forty Seven Bank to private persons.

Possibilities provided by Forty Seven Bank to individuals

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.

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 non-fiat 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 effective way.

Products and Services-Product for Business

In the past, Customer Relationship Management (CRM) has changed approach to the business and customer service. We believe that smart contracts which are connected to legal and financial banking services will lead to a new technological revolution.

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.

Possibilities provided by Forty Seven Bank to 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 eective 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.

Forty Seven App Platform and API Management

For our business customers, we will oer wide range of financial products and services. All the services will be available via API for management via smart contracts or customer applications. We will allow to create completely autonomous business thanks to full API access to our products and all their functions.

Payment Processing and Invoicing

Forty Seven Bank will provide wide range of payment processing solutions to our business clients. E-commerce clients will have the possibility to easily accept payments on their web-pages, platforms, applications, games, etc. with easy to use and informative merchant cabinet/panel. They will have opportunity to accept payments in traditional fiat currencies via credit or debit cards (Visa, China UnionPay, MasterCard, Diners) and direct bank transfers. Apart from that, entrepreneurs will be able to accept payments in digital currencies with support of the bank which will provide clearing procedures. At the same time, the bank will provide convenient and eective invoicing services. Having all these services provided by Forty Seven Bank, companies will have the opportunity to substantially decrease costs, increase eectiveness of working procedures related to financial management and get access to wide audience of potential customers.

Financing and Factoring

We would like our business clients to put the main emphasis on running core procedures at their entities that is why Forty Seven Bank will offer factoring solutions that will allow to receive immediate cash for accounts receivables. The bank will finance, manage and guarantee invoices issued by the company via smart contracts.

Companies will have wide range of short-term financing options to cover operational activities, as well as possibilities of long-term financing for their development, expansion and growth. Besides that, by integrating machine learning, the bank will help business clients with credit risk profiles of their customers.

Biometric POS terminals

We will develop POS terminal software, which will give users of our bank a possibility to connect a credit card or a bank account to his/her fingerprint, and pay in the store by applying a thumb to the fingerprint scanner attached to POS terminal. This technology will increase effectiveness of payment process in the store, and will provide benefits not only for customers, but also for business clients, by lowering the amount of queues and increase the amount of sales.

White Label Processing

We will provide infrastructure services for financial institutions. Thanks to principal membership in Visa and MasterCard, we will oer full spectrum of on-line acquiring services and we will give opportunity to our partnering banks and payment processing companies to provide to their clients all types of payment solutions such as SMS, DMS, OCT, P2P, recurrent, moto, reversal, refund and others. Additionally, we will oer processing of Point-of-Sale (POS) terminals. Apart from that, we will oer card issuing and bin sponsorship services to our partnering financial institutions.

ICO Services

Forty Seven Bank is going to provide services for companies that would like to attract financing via ICO. The services will include legal support, escrow arrangements, support in transferring digital currencies into fiat equivalent. We will also develop rating procedures for ICO projects and will provide thorough analysis of interesting projects.

Products and Services-Products for Developers

Products for Developers

Forty Seven Bank products and services for financial technology pertners.

Possibilities provided by Forty Seven Bank to developers

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 ailiate 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 dierent conditions.

Bank as a Service (BaaS)

Our service called Bank as a Service will allow entrepreneurs to get access to all infrastructure elements of Forty Seven Bank via API. Fintech start-ups or those who would like to try themselves in banking business will be able to create their own White Label bank or financial services institution. They will be free to concentrate on marketing activities, whereas our already developed infrastructure covered with banking license, technology, compliance, risk management and customer service will do the rest.

Loyalty Services

Forty Seven Bank will support partners-developers in their marketing activities. We are interested that developers attract as many customers to use their applications as it is possible, because each party gets benefits. That is why we will support loyalty programs of developers by providing possibilities of cash-back to cards of their customers or any other marketing ideas that might be of customer interests.

Forty Seven App Platform

Opened API will give opportunity to our clients to develop applications (like applications for smartphones) which will work using potential of Forty Seven App Platform. Developers will be able to create their own banking application, a bot for account management or complex analytical application. Relying on possibilities of on-line identification they will have opportunities to scale unlimitedly and earn significantly higher levels of income. We will manage marketing activities related to our platform and by introducing an application developer will have the chance to attract his own client base, as well as to use our already existing base of clients and partners.

Developer Meet-ups

In our opinion, at the moment API is the main channel for attraction of new partners. State of the art and convenient API is only a fraction of what is needed in order to completely realise the ideas. That is why Forty Seven Bank is going to organize developer meetings in Europe, Asia and CIS where we will explain how to operate with our platform in order to realise your dreams.

Scoring, KYC and Compliance Services

We will help our partners-developers with compliance services related to their customers. As Forty Seven Bank will have complex software tools with integrated machine learning that will be used in scoring and KYC procedures, our partners-developers will have opportunity to use these tools in full capacity and save much time and money at the same time being fully concentrated on the main tasks related to their business.

Data Analytics and Prediction Models

Our sophisticated data analytics techniques powered by machine learning technology will provide developers with important useful information that can be later used in decisions making process. The amount of information and its significance with respect to particular issues will help to test dierent hypotheses and build prediction models related to success of particular product or service.

Consulting Services

Forty Seven Bank is going to have consulting department that will share our knowledge and experience, as well as will help our partners to reach their goals more quickly. The department will act as the accelerator – it will help to answer and resolve legal, technical or organizational questions of our API partners.

Product and Services-Products for Traders

Products for Traders

Figure 4 below displays Forty Seven Bank products for traders. Wide range of products and services is going to be oered to traders. There will be traditional products, as well as innovative crypto products developed and introduced by Forty Seven Bank.

Possibilities provided by Forty Seven Bank to traders

Account Management

Our Trading Account Management system will allow our customers to manage their trading account and access features such as trading reporting, configuration, funding and account tracking showing them information such as margin, positions orders and execution to analyse trades and evaluate their performance and optimize strategies. For institutional clients there will be features to allow service providers such as brokers, advisors and hedge fund managers to link and manage multiple accounts configuring dierent tools for them to provide cost-eicient services to their own clients.

Access to App Platform

Forty Seven Bank will provide customers with access to our state of the art trading platform to oer them a cost eicient opportunity to trade equities, options, futures and forex. The mobile platform will feature a variety of userfriendly functions to monitor the markets in real time and to keep track of trading orders and positions from a customizable intuitive dashboard with links to interactive market calendars and news. Our applications will be linked to our clients’ banking account to allow margin transfers free of charge.

Access to Forty Seven Bank Exchange

We will provide foreign exchange services to our customers including bank-to-bank transfers and foreign exchange dealing for international corporations. As we will be operating large volumes we will be able to transfer the wholesale rates we operate under directly to our customers. Our clients will be able to access these services upon account opening.

Access to Exchanges

There is a growing trend towards the utilization of high-speed and direct-order models as a success

factor in the business strategy of dierent participants within the capital markets. We intend to provide

our customers with the flexibility they need to adapt to rapid changes in the market so they can capitalize on agile orientated opportunities via Direct Market Access (DMA). This feature will provide our clients greater control over their trades and the opportunity to place orders directly on the market having an equal level playing field for their orders when trading large sizes, as well as, visibility, tighter spreads, limit order placements and both pre and post market participation.

Analytics

We will oer our clients trading analytics with market insights for an eective decisionmaking process. By providing information related to market’s fundamentals and technical analysis our clients will be able to make informed decisions by identifying price zones and high probabilities price moves. Beyond these basic features, we will offer customised trading analytics to help our customer reduce trading cost and improve their trading executions with quantitative and data analysis based strategies.

Derivatives

We will be oering both traditional and innovative derivatives products in fiat and non-fiat currencies opening the possibilities for savvy investors to take hedging and speculative position in the market and capitalise their fiat and non-fiat assets.

Hedging

We will implement machine learning driven trading algorithms and hedging services to our  customers. As an innovative institution technology is at the core of everything will be engaged to.

Smart Support

Our trading services will be complemented by smart support not only given by our trading platforms intuitive functions but by a dedicated call services to assist you in any query in regards to your trading account, orders, positions, executions and more.

Cryptobonds

A debt digital instrument denominated Cryptobond. This will be a non-investment grade instrument to be freely bought and sold in the digital currency market. The idea is to oer an instrument by which companies can raise cryptocapital and investor can speculate with the yield of these instruments. The market segments for these instruments are governments and companies in need to raise capital as well as private and institutional investors (speculators).

Cryptobonds will have the following characteristics:

• Asset backed;
• Convertible;
• Redeemable to the bearer;
• Annual interest.

For this instruments to be operational Forty Seven Bank will oer the following associated facilities:

• Underwriting;
• Primary issuance;
• Market making;
• Brokerage;
• Clearance.

Cryptofutures

A digital future contract denominated Cryptofuture. Based on many aspects, digital assets, in particular cryptocurrencies are publicly known but still not wide used financial instruments which gives massive priority to the stakeholders and management team of Forty Seven Bank as it provides with serious competitive advantage and promotes future contracts linked to future production of digital currencies from miners.

For this instrument to be operational the following associated facilities will be provided:

• Structuring;
• Exchange;
• Brokerage.

Executive Team

Advisory Board

Details of Token Sales

Round 1

ICO Begins: November 16, 2017

ICO Expires: December 16, 2017

Round 2

ICO Begins: November 17, 2017

ICO Expires: February 28, 2018

Round 3

ICO Begins: March 1, 2018

ICO Expires: March 31, 2018

Name    : Forty Seven Bank Token

Symbol : FSBT

Token Price: 1 FSBT = 0.0047 ETH.

Support Token: ERC20

Maximum Sales Target: 36000 ETH

Token Distribution

90% - Goes to contributors

5% - For founders

5% - Bounties

For More Information :

Website         : https://www.fortyseven.io

Whitepaper : https://drive.google.com/file/d/0BzvESRkgX-uDeHc1QjRzbHRBelU/view

Ann Thread : https://bitcointalk.org/index.php?topic=2225492

Facebook     : https://www.facebook.com/FortySevenBank/

Twitter         : https://twitter.com/47foundation

Telegram     : https://t.me/thefortyseven

Medium       : https://medium.com/@FortySeven47

 

My Bitcointalk Profile : https://bitcointalk.org/index.php?action=profile;u=1210304