Press Release

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.

Relevance

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.

Convenience

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.

Security

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

 

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