Application Platform for Financial Technology Developers

Financial applications today are needed by the public and therefore Fouty Seven Banks are present to meet the needs of the community for financial applications

Fourty Seven Bank

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. Forty Seven Bank will give opportunity to developers with small or medium capital to create white label applications which will be able to compete with traditional banks. Forty Seven Bank are Bank as a Service (BaaS) solution will disrupt financial sector of the European Union by reducing barriers to entry the fintech market.

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 values are:

Transparency;
Financial stability;
Effectiveness and Forty Seven Bank er firendly procedures;
Security and privacy (data protection);
Innovativeness;
Customer satisfaction;
Market share growth and worldwide expansion;
Profit for all stakeholders.

Products and Services

Products for Private Persons

The bank is going to do that according to latest technologies Forty Seven Bank ing biometrics. The Forty Seven Bank e 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.

Account Management. Forty Seven Bank clients will have a lot of possibilities related to account management.
Deposits and Loans. The bank will oer deposits and loans in traditional fiat currencies like EUR, FORTY SEVEN BANK D and others, as Forty Seven Bank ll as in non-fiat digital currencies like BTC, ETH and others.
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.
Invoicing. Forty Seven Bank will support its cForty Seven Bank tomers who are offering small products and services as individuals without having a company.

Other Services. The bank will also offer traditional products and services like insurance, payments and transfers, payment history and analysis, cash withdrawals at Forty Seven Bank Smart ATMs, as Forty Seven Bank ll as at ATMs of Forty Seven Bank partnering banks.

Products for Business

Synergy of smart contracts and blockchain will open new unbelievable opportunities. Forty Seven Bank are creating not just technological bank, Forty Seven Bank are creating the bank of the future.

Forty Seven App Platform and API Management. All the services will be available via API for management via smart contracts or customer applications. Forty Seven Bank will allow to create completely autonomous business thanks to full API access to Forty Seven Bank products and all their functions.

Payment Processing and Invoicing. 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.

Financing and Factoring. 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.

White Label Processing. Forty Seven Bank will oer processing of Point-of-Sale (POS) terminals. Forty Seven Bank will provide infrastructure services for financial institutions. Additionally,Forty Seven Bank will offer processing of Point-of-Sale (POS) terminals.

Biometric POS terminals. Forty Seven Bank will develop POS terminal software, which will give Forty Seven Bank ers of Forty Seven Bank 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.

ICO Services. The services will include legal support, escrow arrangements, support in transferring digital currencies into fiat equivalent.

Products for Developers

Bank as a Service (BaaS). 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. Where they will be free to concentrate on marketing activities, where as Forty Seven Bank already developed infrastructure covered with banking license, technology, compliance, risk management and cForty Seven Bank tomer service will do the rest.

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.

Loyalty Services. Forty Seven Bank will support loyalty programs of developers by providing possibilities of cash-back to cards of customers or any other marketing ideas that might be of customer interests.

Developer Meet-ups. Forty Seven Bank is going to organize developer meetings in Europe, Asia and CIS where Forty Seven Bank will explain how to operate with Forty Seven Bank platform in order to realise yForty Seven Bank dreams.

Scoring, KYC and Compliance Services. Forty Seven Bank will have complex software tools with integrated machine learning that will be used in scoring and KYC procedures, Forty Seven Bank 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 bForty Seven Bank iness.

Data Analytics and Prediction Models. Forty Seven Bank sophisticated data analytics techniques powered by machine learning technology will provide developers with important useful information that can be later Forty Seven Bank ed in decisions making process.

Consulting Services. Forty Seven Bank is going to have consulting department that will share Forty Seven Bank knowledge and experience, as well as will help Forty Seven Bank partners to reach their goals more quickly.

Products for Traders

Account Management. Forty Seven Bank Trading Account Management system will allow Forty Seven Bank 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.

Access to App Platform. Forty Seven Bank will provide customers with access to Forty Seven Bank state of the art trading platform to offer them a cost eicient opportunity to trade equities, options, futures and forex.

Access to Forty Seven Bank Exchange. Forty Seven Bank will provide foreign exchange services to Forty Seven Bank customers including bank-to-bank transfers and foreign exchange dealing for international corporations.

Access to Exchanges. Forty Seven Bank intend to provide Forty Seven Bank 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).

Analytics. By providing information related to market’s fundamentals and technical analysis Forty Seven Bank clients will be able to make informed decisions by identifying price zones and high probabilities price moves.

Derivatives. Forty Seven Bank will be offering both traditional and innovative derivatives products in fiat and non-fiat currencies opening the possibilities for savvy investors.

Hedging. Forty Seven Bank will implement machine learning driven trading algorithms and hedging services to Forty Seven Bank customers.

Smart Support. Smart support not only given by Forty Seven Bank trading platforms intuitive functions but by a dedicated call services to assist you in any query in regards.

Cryptobonds. 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 offer the following associated facilities:

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

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

Structuring;
Exchange;
Brokerage.

Technology

Blockchain

Blockchain should serve not only to the cryptocurrency enthusiasts, all people and businesses should benefit from this innovative technology. The customers of Forty Seven Bank can hold cryptocurrencies in multicurrency wallet, monitor current balance, easily send and receive digital currencies, request history of payment transactions. In order to protect the funds of clients that are allocated in cryptocurrencies, the keys will be stored in secure private database which is backed up, encrypted and replicated to several data centers across the globe.

Cryptocurrency gateway

It will convert fiat into crypto currency and back to fiat.

Cryptocurrency payment system

The buyers will be able to pay for products in crypto and fiat currencies via our payment system. The system will be easy to use for buyers and easy to integrate for merchants.

Emission of Price-stable Cryptocurrencies

Forty Seven Bank will emit price-stable cryptocurrencies that are backed by equal reserves in fiat currencies, such as USD or EUR. The exchange rate of stable currencies never changes and nominated in corresponding fiat currency.

Whitelist and blacklist

Forty Seven Bank will constantly monitor customer activity to detect and prevent activities of criminal elements for money laundering.

Person and Company Authentication Service

Forty Seven Bank will strictly follow all KYC procedures to operate as bank, therefore we can assure the identity of counterparty to Forty Seven Bank customers.

Smart Contracts

Forty Seven Bank will offer broad range of services based on smart contracts. Forty Seven Bank will provide a set of predefined smart contracts and these contracts can be used as standard agreements between bank customers.

API

Forty Seven Bank will provide comprehensive API to allow businesses and partners to integrate their applications and services with our bank infrastructure. The architecture of Forty Seven Bank infrastructure will be built using modern best practices and technologies. Whole system will be built using loosely coupled microservices. Forty Seven Bank will use RESTful web services as foundation for

our API and will use JSON format to encode the data.

Biometrics

Biometrics is being used to identify a client by unique characteristics: a fingerprint, branching of the

vessels of the palm, the iris of the eyes, the timbre of the voice, facial features. Blockchain reliably protects the database of biometric information from cyber crime, as the storage of information is distributed among servers and it is not possible to make changes to the recorded chain of events. The fingerprint data is stored as a token in secure infrastructure. It will secure all the biometric data storage. Software is developed under EU regulations of storing personal data and will be certified by Qualified Security Assessor.

Machine Learning

In Forty Seven Bank bank we will use Machine Learning in various operational and analytics functions,

with most prominent examples being:

Risk Management;
Marketing;
Customer Service;
Fraud detection;
Security;
Product development.

Product Introduction Stages Under the Hardcap

Hardcap – 10M EUR

Main goals:

UK bank authorization and pasporting to EEA/EU in 2019;
Payment processing solutions from early 2019;
To issue loans at amount of around 80M EUR in the first year of operations;
To attract 65M EUR of deposits from customers by 2022;
To obtain profitability of >65% in 2020 in terms of Return on Average Equity (ROAE).

Reaching hardcap of Fourty Seven Bank ICO procedure gives us an opportunity to start the bank oering wider range of products.

ICO

Currently ICO is the best and fastest way to attract financing for interesting projects, especially for those that are community driven with the aim to develop important infrastructure elements related to cryptocurrencies. ICO also gives opportunity for people from dierent countries to contribute their digital assets into projects and teams situated in other countries.

Tokens will be given in exchange for Ethereum (ETH) and Bitcoin (BTC).

The price of one token is 0.0047 ETH.

Hardcap for ICO is 36000 ETH and soft cap is 3600 ETH.

Maximum amount of tokens to be generated: 11 063 829 FSBT. Accepted currencies on ICO: ETH, BTC. ICO: now – 31.03.2018

Duration of ICO Round 1: 16 November - 16 December, 2017

Duration of ICO Round 2/3: to be announced.

FSBT Token

FSBT is an Ethereum-based token that follows the ERC-20. Holders of such tokens completely control their digital assets in Ethereum blockchain without the need to use any other special software.

Main smart contract

Describes the bonus system and controls its issue;
Describes the ICO dates and controls the possibilities of token acquisition during these periods;
Sets the limits for token issued during these periods;
Describes and lets contract owner to run the mechanism of sale finalization.

Token contract