The rapid development of technology has had
massive impact on the financial services industry
and has introduced new rounds of development.
The emergence of new technological opportunities have entailed the expansion of
individual and institutional consumers’ demands in ensuring particularised financial
service provision and their regulatory stipulation.
Moving away from the obsolete financial products due to new
challenges and ideas via improvement of the initial models,
merging them into integrated complex systems based on
technological accompaniment eventfully expands financial
horizons into digital asset and decentralised market technology.
The trend of moving away from centralised to decentralised markets was introduced by the
European Commission with Payment Services Directive (PSD) followed by PSD2 which comes
into force next year which obliges financial institutions to grant the access to their various products and services via Application Programming Interfaces (APIs). Successful integration of the
directive will create the single trade and transaction market which also will bring users closer to
the digitals assets.
According to CoinMarketCap1, there are now around 800 crypto assets which are worth
a total of up to 150B USD. There’s a proposition that cryptocurrencies could be valued at
5T USD by 2022 in market capitalisation2.
One of the most significant breakthroughs
expected in the financial services technology
is already expected in a couple of years’ time.
Forty Seven team is generating funds
via Initial Coin Oering (ICO) procedure
to make our innovative ideas come true
— to build the bridge between cryptocurrency world and traditional monetary
system. We will unite the community of digital asset users with more conservative
individuals under the roof of Forty Seven Bank.