London, UK – Forty Seven Bank is a new and unique concept in the world of financial services – a modern universal bank designed for users of both cryptocurrency and traditional Fiat currency, built to seamlessly integrate the old and new, paper and digital, Fiat and crypto.
Imagined by a team of professionals drawn from the worlds of banking, Finance, and IT, Forty Seven Bank will be delivered by specialists with expertise, experience and a proven track record in the licensing of payment systems and development of electronic Financial institutions.
Forty Seven Bank will provide innovative, secure, and user-friendly financial services and products for every type of client base – individuals, businesses, developers, traders, Financial institutions, and governments.
The Forty Seven project is founded on three key principles – Relevance, Convenience, and Security.
Forty Seven Bank incorporates and deploys the most up-to-date innovative technologies available, such as blockchain, biometrics, smart contracts, and machine learning. This allows Forty Seven Bank to bring all the services of traditional banking to users of cryptocurrency and bringing to users of traditional fiat currency all the benefits of disruptive new technologies.
Forty Seven Bank introduces the concept of a ‘Multi-Asset Account’ which gives customers access to and control of both crypto and fiat assets in one place, through one simple, easy to use interface. While the use of biometric identification and blockchain allows users ease of access and the capability to manage multi-asset accounts from anywhere in the world via smartphone, or ATM and without the need for a card.
Forty Seven Bank will be recognised by international financial organisations, and conform to all regulatory protocols and requirements, including the European Union’s Payment Services Directive 2 (PSD2). The bank will also be compliant with Know Your Customer (KYC) and Anti-Money Laundering (AML) policies, guarding against exposure to actors and representatives of the “grey” market. High-end encryption and biometric ID verification will be employed to protect and secure the integrity of customers personal and payment data.
Cryptocurrency and the technology driving it is changing the infrastructure, institutions, and processes of banking and will continue to do so over the coming decades. Forty Seven Bank is a bank tailor-made for this future, positioned to connect the crypto and fiat markets, unite them under one roof, and offer customers the best of both worlds with a bank designed for the digital age.
Learn more at www.fortyseven.io
Source: (ICO Press Release)