Forty Seven Bank: A culmination of both worlds (crypto and Fiat)
With the rapid increase in adoption towards digital currencies, Financial institutions must cope up with both cryptocurrencies and fiat. Forty Seven Bank aims at providing services that benefit both stakeholders - digital and paper.
Forty Seven Bank is cofounded by a team of expert professionals from banking, finance and IT industry giants. The team has proven record in the financial sector and are aiming to provide banking products and services that cater to different types of consumers - Individuals, businesses, techies, government, traders etc.
Products
Multi-currency account: An account for people to invest in crypto using their local currency. This product will support forex conversions, crypto trading, fiat withdrawals and deposits, currency transfers and will also support fiat ATMs.
Integrated banking Interface: Forty Seven Bank will support PSD2 directive compliance for European banks. With this support, a client can manage multiple European bank accounts in a single interface.
Remote identification and authorization: The Mobile app will enable opening of an account with Forty Seven Bank remotely. Clients can submit their passport and biometric data through the app without the need to visit the local branch. Clients can start banking with both crypto and fiat.
Cryptocurrency: Forty Seven Bank combines decentralized crypto banking features with centralized fiat banking features. Clients can use the banking app to do crypto-fiat transactions or even crypto-crypto transfers for low fees. Clients can convert crypto to fiat and pay for utilities
Payment tools: Forty Seven bank will support SWIFT, credit, debit, wallet payment options that are secure. It will also support both mobile and web banking and clients can make use of this platform across the geography
convenient tool for routine payments, available 24/7 in any part of the world.
FSBT and Blockchain: Forty Seven Bank Tokens (FSBT) will be the blockchain enabler and is based on Ethereum ERC20 tokens. FSBT holders will benefit from the bank's loyalty program and will get privileged benefits. Bank will also invest 20% of profits into the loyalty program which effectively means sharing profits among token holders.
Website: https://www.fortyseven.io/
Telegram: https://t.me/thefortyseven
Twitter: https://twitter.com/47foundation
Roadmap: https://www.fortyseven.io/#roadmap