Alux Bank will Integrate Banking Services with its In-House Application

bonanza-kreep (66)in #blockchain • 6 years ago (edited)

Banks are implementing online banking services with efforts to improve their relationships with clients. Since the online audience has been growing rapidly, banks with digital presence have begun to appear in parallel to traditional finance services. In this light, digital infrastructure has become a fundamental feature that sets them apart from established institutions. With advent of blockchain technology, banks have been presented with the opportunity to expand their businesses while building decentralized networks.

https://www.luxantdigitalbank.com

Alux Bank will meet the growing demand for reliable transactions in distributed networks while building the electronic banking solution. While the ultimate goal of the project is to enable fast payments both in fiat and cryptocurrencies, it has also a strong focus on funds management including such features as support availability, low fees and fast transactions being all integrated into the mobile application.

Integrating banking services with Lux Ant Digital Application

Lux Ant App will provide its users with access to all banking services including payment operations, lending, money transactions, online purchases, etc. Another element that is relevant is the system of secure micro loans for companies and startups. Small and medium-sized businesses thus will be given access to bank capital from the best available sources. In doing so, businesses will be able to create their accounts and launch funding campaigns while posting their proposals by means of the public accounts. While hosting their lending profiles, companies will be able to communicate directly with potential investors who might be interested in their projects. Alux Bank, in turn, will seek ways for establishing cooperations with financial institutions who might patronize the companies. Loan agreements can be conducted on the platform as well.

Alux Bank Payment Card
Alux Bank intends to issue debit payment cards with QR codes instead of implementing chip technology. In parallel, this services is supposed to be accompanied with establishing ATMs for cash withdrawal, fiat and crypto exchange services, etc.

Loyalty programs
Another approach to establish reliable relationships with customers is to design attractive loyalty programs. In this context, Alux Bank will partner up with shopping centres, stores, service suppliers, etc.

https://www.luxantdigitalbank.com

Enabling its stakeholders to monetize their activities with Alux Bank is a point for future development. As proposed by the team, users will be able to gain profit while sending invitations to their friends to join the network as well as conducting transactions. However, there is no further information concerning the strategy behind this plan.

ICO Details

Main public sale has been launched on September 1 and will close on November 30, 2018.

Banks are less focused on lending to small businesses. However, the share of small businesses who seek ways to engage investors has been constantly increasing over the last years. In this context, connecting companies and financial institutions on the single platform represents an obvious advantage to any banking platform, and Alux Bank is not an exception. With regard to the overall scope of services, we should nevertheless conclude that it doesn't differ much from competitors both from the blockchain and the centralized segment. We would therefore recommend the team project to clarify their strong features while providing explanation to technologies they are willing to implement.