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 Seven’s 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 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 give 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 8 days’ time, visit www.fortyseven.io

 

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This release contains “forward-looking statements” or “forward-looking information” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and applicable securities legislation. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may”, “future”, “plan” or “planned”, “will” or “should”, “expected,” “anticipates”, “draft”, “eventually” or “projected”. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and CCN and CB undertake no obligation to update such statements.
Although Forty Seven Banks believes that the material factors, expectations and assumptions expressed in such forward-looking statements are reasonable based on information available to it on the date such statements were made, no assurances can be given as to future results, levels of activity and achievements and such statements are not guarantees of future performance. Forty Seven Banks’ actual results may differ materially from those expressed or implied in forward-looking statements and readers should not place undue importance or reliance on the forward-looking statements.
The forward-looking statements contained in this news release reflect several material factors, expectations and assumptions of Forty Seven Banks including, without limitation: the general continuation of current or, where applicable, assumed industry conditions; and availability of debt and/or equity sources to fund Forty Seven Banks’ capital and operating requirements as needed.
Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements including, without limitation: general economic, market and business conditions; reliance on industry partners; and certain other risks detailed from time to time in Forty Seven Banks’ public disclosure documents including, without limitation, those risks identified in this news release, and in Forty Seven Banks’ annual information form, copies of which are available on Forty Seven Banks’ SEDAR profile at www.sedar.com. Readers are cautioned that the foregoing list of factors is not exhaustive.
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