Forty Seven Bank, a new banking startup currently in the final stretches of its ICO, reached a huge milestone this week when it publically released version one of its API (Application Programming Interface) giving developers globally the opportunity to use its infrastructure when developing applications. It allows them to tap into all the advantages that developing under Forty Sevens umbrella offers, including the use of existing compliance, risk management and customer service infrastructures.
Forty Seven Bank, which will be headquartered in London, has been breaking milestone of after milestone during this ICO and is now setting new industry examples by launching the first version of its API even before the Initial Coin Offering process has ended. By doing this at this stage of the process Forty Seven shows investors that it has a solid IP and vibrant business model with endless opportunities for growth and innovation. Currently 24 new apps are already eligible to be posted on Forty Seven Bank’s app store.
Developers can generate an API key to work with Forty Sevens services on https://api.fortyseven.io.
Furthermore the subdomains https://developers.fortyseven.io and https://explorer.api.fortyseven.io gives them all the information they need to get started. The API is based on the Open Bank Project which guarantees future updates, large compatibility and long term stability.
Forty Seven Bank CEO Aleksandrs Malins commented: ‘This is a huge moment for us and the wonderful community that has formed around this project. 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.’
Forty Seven Banks API is PSD2 ready, meaning developers in every country can take full advantage of the new possibilities that will emerge when this directive will be activated. PSD2 will open up the European banking world giving new technology the opportunity to disrupt the dusty financial industry.
With the launch of this API Forty Seven Bank has positioned itself solidly at the forefront of this revolution.
For more information about the ICO and the API, which will end in just 9 days’ time, visit www.fortyseven.io.