Forty Seven Bank 4/5 (1)

Forty Seven Bank

Crypto-based platform for fintech developers
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. We will give opportunity to developers with small or medium capital to create white label applications which will be able to compete with traditional banks.


4.0

HypeSecurityTeamVision
5.03.04.04.0



STATUS: Ended
TokenFSBT
Price in ICO1 FSBT = from 0.0047 ETH
CountryUnited Kingdom
preICO start30 Oct 2017
preICO end6 Nov 2017
ICO start16 Dec 2017
ICO end30 Apr 2018


  • ABOUT
  • TEAM
  • MILESTONE
  • FINANCIAL
  • SECURITY
  • MEDIA

International Monetary Fund (IMF), the specialised agency of the United Nations, issued the statement which encourages financial institutions to consider financial technology cryptocurrency investments due to potential future exposure3. In fact, few major financial institutions as People’s Bank of China and Danish Central Bank are already coopering in this direction.

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.

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.

 

Team believes 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 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 stability
  • Effectiveness and user firendly procedures
  • Security and privacy (data protection)
  • Innovativeness
  • Customer satisfaction
  • Market share growth and worldwide expansion
  • Profit for all stakeholders

Team

TEAM
Aleksandrs Malins
Chief Executive Officer, Member of the Board
Igors Astapčiks
Chief Operational Officer, Member of the Board
Vladimirs Tomko
Chief Marketing Officer, Member of the Board
Mihails Skoblovs
Chief Financial Officer, Member of the Board
Aristoteles Vargas
Head of Financial Market Development, Member of the Board
Anton Azamatov
Chief Technical Officer
Edgars Abols
Chief Legal Officer
Lilija Kovaļčuka
Art Director
Jevgenijs Lesevs
Head of Internal Audit
Vitalijs Grundsteins
Project Manager
Kristiāna Štauere
Lead Analyst
Nana Zhang
Community Manager (Asia)
ADVISOR
Claude Chi
Chief Marketing Officer, Afterpiece Investment
Morten Hansen
Head of Economics Department, Stockholm School of Economics in Riga
Dmitry Dudin
Head of Products and Services Development Department, XB Software
Rinat Arslanov
Chief Executive Officer, Revain
Artem Kushik
Business Analyst, Crédit Agricole CIB
Igors Danilovs
CFA, Senior Portfolio Manager, Swedbank
Jevgenijs Plams
Blockchain Developer
Inna Krievane
Financial Analyst, Argus Vickers
Dianna Chen
Strategy & Product Development Lead, Fier Consulting

Milestones


  • Development of Forty Seven Bank concept, project plan elaboration

  • Preparation and start of crowdfunding via Token Generation Event

  • Successful completion of Token Generation Event, FSBT launch on exchanges

  • Software infrastructure deployment

  • Applying for EMI, PI authorisation at FCA, integration with SWIFT system

  • Obtaining EMI, PI licenses, authorisation for activity from FCA. Launch of services for FSBT tokens holders

  • Submission of documents to obtain banking license

  • Obtaining banking license. Start of providing full-scale banking services

Financial

Token
PlatformEthereum
Price in ICO1 FSBT = from 0.0047 ETH
Investment Info
AcceptingETH, BTC
Tokens Distribution90% - Crowdsale
5% - Founders
5% - Bounties
Soft cap3,600 ETH
Hard cap36,000 ETH

Security

Legal entity

Registered Address: Tallinn, Estonia

https://ariregister.rik.ee/index

Prehistory of project

According to the roadmap, there is no prehistory of Forty Seven Bank project

Product or its MVP

MVP has been already developed to be tested (link)

Blockchain experience

No practical ICO experience were found at team and advisors

Escrow

No escrow information were found

Comments

Update: 28.03.2018

Media

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