London, England, March 9, 2018 /ChinaNewswire.com/ – The global financial industry’s reputation has still not recovered from the 2008 crash that was caused by reckless behaviour and greed. Young banks, based on a framework of new and exciting fintech (financial technology) are stepping in to shake up the industry. Forty Seven Bank is one of the most interesting new projects currently in development. It offers a platform to talented engineers to develop new applications and stimulate innovation in an industry that begs to be disrupted.
The traditional banking industry is slow, ineffective and stagnant. The industry is desperate to hold on to outdated but highly profitable business models and has been pushing back against innovations that could threaten them. A young banking startup like Forty Seven on the other hand fully embraces the latest technology in an effort to put clients first.
Forty Seven Bank CEO Aleksandrs Malins was quoted saying: ‘What we are trying to do is to show to the world that it is possible to be effective and profitable without losing sight of other important values like stability and profit. We think that by using the newest technology we can give clients the experience that they should be able to expect in 2018, while still aggressively growing our market share.’
In order to ensure that Forty Seven Bank always has access to the latest and best technology it is offering developers all over the world a chance to develop new applications under Forty Seven Bank’s umbrella. Malins: ‘For us this a way to tap into the amazing talent pool in China, whilst at the same time offering small, independent developers the opportunity to compete on the highest levels, with minimal investments. Our goal is to constantly be innovating and to offer better, more efficient and more client centric services.’
Forty Seven Bank, which will launch globally soon and is headquartered in London, will be fully compliant with all regulations of every market it operates in. For more information about Forty Seven Bank, its values and its philosophy, please visit www.fortyseven.io
ABOUT FORTY SEVEN
Forty Seven Bank wants to create an innovative, flexible and open application platform for fintech (Financial Technology) developers. They will be able to work under Forty Seven Bank’s umbrella and will have access to the banks infrastructure and customer base. This will create opportunities for developers with limited access to capital to create white labeled applications that can compete with traditional banks. Our Bank as a Service (BaaS) solution will disrupt financial markets in Asia and elsewhere by reducing barriers to enter the fintech market.
For further information contact:
Chief Marketing Officer
Forty Seven Bank