The Forty Seven Bank has been surpassing one milestone after another since the beginning of its ICO. Now, in yet another showcase of progress, the platform has announced the launch of its API that allows developers to create applications and publish them on the Forty Seven App Store.
It is an important development as the newly-released API can benefit the developer community by making it easy for them to create third-party fintech applications under the Forty Seven umbrella. They also get to leverage the existing compliance, risk management, and customer support infrastructure.
Forty-Seven Bank has already released three websites as a part of its API launch. Developers can now generate API keys to work with on http://api.fortyseven.io or http://developers.fortyseven.io or http://explorer.api.fortyseven.io. These domains and sub-domains contain all the relevant information a developer needs to start using the API and create market-ready financial applications. The resources include documentation, various app development tools, Software Development Kits and a list of applications that can be launched on Forty Seven Bank app store.
“This is a huge moment for us and the wonderful community that has formed around the project,” said Aleksandrs Malins – CEO of Forty Seven Bank. “We worked from the premise that any Fintech developer in the world should have the opportunity to create groundbreaking new products even without big money behind them. To see this dream come alive, and to witness the foundation of Forty Seven Bank being erected in real time is very satisfying,” he continued.
The API by Forty Seven is PSD2 ready, meaning developers from all countries, especially in the European Union can take full advantage of this new opportunity to turn great ideas into innovative products. PSD2 opens up the European banking world to developers to help drive innovation in cutting-edge technologies by opening up the financial industry to disruption.
Rapid technology development has had a massive impact on the financial services industry and has introduced new rounds of development in the field to make financial service readily available to the masses. With the launch of its API, Forty Seven Bank secures its spot solidly at the forefront of the global economic revolution.
About Forty-Seven Bank
The company at the forefront of this revolution, Forty Seven Bank is an innovative financial technology start-up that was created to help provide high-quality, secure, and user-centric banking services for individuals and institutions. With its token sale currently live, the services offered by the platform will be fully recognized by relevant financial regulatory authorities and compliant with the respective legislation and regulatory frameworks.
The bank is going to specialize primarily in digital financing services by fully supporting cryptocurrencies and traditional fiat currencies. The platform’s users will be able to buy and sell cryptocurrencies, avail investment and exchange options, and open cryptocurrency saving and current accounts.
Multi-asset accounting services will also be available as one of the innovative products offered to users by the Forty Seven Bank. This will allow clients to have access to all their accounts in different banks and cryptocurrency wallets, as well as investments and savings in both cryptocurrencies and fiat currencies, via a single application. The platform will also provide unique crypto products like bonds, futures, and options. Institutional consumers will benefit from the platform by attracting finances via products like crypto-bonds created by Forty-Seven Bank that can be traded on various exchange platforms.
All functions of the Forty Seven Bank platform, from the usual activities related to account management, opening an account, loan servicing, and insurance, will be implemented as single micro-services. These existing services will be augmented by the those provided by affiliate partners built using the recently launched Forty Seven Bank API. Businesses will have an opportunity to unlock the full potential by automating financial and operational activities using API connection to its server and smart contracts for the execution of operations.
The Initial Coin Offering
Forty Seven Bank is holding its ICO which is expected to run until 31st March 2018. They are offering unique benefits to contributors during the ICO and future holders of their Forty Seven Bank Token (FSBT). The benefits include access to products and services and an opportunity to multiply their contributions by selling the tokens in secondary markets.
More information about Forty Seven Bank is available at – https://www.fortyseven.io/