The potential impact of technological development in finance is one of the hottest
topics today. Many start-ups are trying to revolutionise financial services. However, they
mostly focus on a niche and cannot take advantage of economies of scale, which is
one of the main advantages enjoyed by traditional banks that may not be as
technologically advanced. Bankera plans to achieve the scale to offer traditional and
emerging banking products in a technology driven Blockchain era environment,
eventually becoming the one-stop shop for all banking requirements.
Bankera is already achieving significant progress as a FinTech company, and
plans to have significant infrastructure in place prior to the initial coin offering (ICO).
Already, Bankera has the necessary regulatory and IT arrangements to offer individual
international bank account numbers (IBAN) which can accept and make payments in
the Single Euro Payments Area (SEPA). Bankera is in position to offer competitive
foreign currency exchange rates, quick and cost effective international bank wires as
well as having the “Bankera Payment Card” linked to cardholder’s payment account.
Bankera is building a digital bank to last, therefore, the focus will be on the scale,
elimination of counterparties and offering core banking services such as savings and
loans accounts. To achieve these goals, Bankera will apply for additional banking
licenses in key jurisdictions to be able to operate in a spectrum of different fiat
currencies and facilitate cross-border transactions without the need for counterparties.
Bankera also plans to be a member of key financial networks, such as achieving issuer
and acquirer status with major payment card schemes as well as becoming a participant
in payment networks such as SEPA in EU, Faster Payments in the United Kingdom and
ETF in Canada.
In addition to traditional banking products, Bankera will be providing innovative
solutions for both individual customers and businesses alike, in a low-cost banking
environment. For example:
• For businesses, Bankera will improve cash flow by extending finance for
payment processing against future expected payments, based on historical
cash flows and expected payments.
• For individuals, Bankera will address the age-old problem of client’s savings
not keeping up with inflation by creating an investment product linked to a
basket of goods that automatically adjusts with inflation.