Bank4YOU Group presents Mobile Money Remittance System at Finovate Asia 2017

Nov 06, 2017 at 10:18 // News
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Bank4YOU

Two billion people around the world live in absolute or near poverty with no access to traditional banking. However, we can now offer a truly original solution that would help better the lives of millions of under banked people across the globe. Bypassing banks and creating mobile money remittance economy is the new way of interacting in the world of finance, sending shockwaves through existing ruling networks and classes.

The future of mobile banking technologies is here. Cryptocurrency is the new way to make payments for everyday needs – and one that is affordable and available on your fingertips. Each user of Bank4You’s mobile wallet has an account where tokens can be stored in different local currencies as well as in the ICO BFY token. Users can use available tokens for money remittances, to exchange them for inner MMR tokens, or can exchange them for local fiat currencies through an agent system or use as payment for goods and services. 

What differs Bank4YOU Group from competitors? 

This is not a revolution, but an evolution. Bank4YOU Group is not a start-up, but an established international consortium of fin-tech service companies operating within the electronic mobile payment services arena. FCA License No715451, issued by the UK's Financial Conduct Authority authorizes Bank4YOU to provide credit. 

MMRS project is a real business model, thoroughly described in the White Paper. On 7th of November David Agar, the CEO of Bank4YOU Group is going to present the demo version of the Bank4YOU e-wallet app with MMRS system to a vast community of fintech innovators at the one of the most influential conferences in the world – FinovateAsia. The Group is proud of its original product and doesn’t hesitate to demonstrate it to the investors and users. 

Vice president of business development in Africa Paul Scott explains benefits of BFY token: ”BFY token holders will be in a very strong, almost unique position to take advantage of those markets where mobile money penetration is becoming pervasive, and especially in those markets where mobile penetration will continue to increase as more people have access to affordable connectivity solutions through large-scale deployments, funded by corporate and developmental funding alike. 

The benefits are simple – the revenue streams projected from an increase in economic activity brought about the mobile penetration are beneficial to low-cost providers operating in the blockchain-based eco-system, where the costs associated to product deployed are drastically reduced with the intermediary, or middle-man, being inserted into a transaction. This is the role the banks play in the financial system, and we can all see the profits they derive from their activities! The low costs of product roll-out and delivery will make any investment case very attractive.” 

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Join the Tokensale! 

Launching its own ICO Bank4YOU Group intends to accelerate the goal of scaling its service rollout across Africa, Asia, and Latin America. Take part in incredibly cheering token sale commencing Monday 6th November and be rewarded for your BFY token contribution. You are sure to see the difference. 

The first phase of the ICO begins on November 6, 2017, at 12 p.m. London Time (UTC+0) and will last until January 31, 2018, 10 p.m. or until the hard cap of $50 million has been reached. 

ICO rounds are scheduled as shown below, with existing token holders receiving significant discounts:
1. 6.11.17 – 12.11.17 Purchase BFY tokens with 20% discount.
2. 13.11.17 – 26.11.17 15% discount.
3. 27.11.17 – 17.12.17 10% discount.
4. 18.12.17 – 31.01.18 Last round with ordinary rates for BFY. 

Long-Term Objective  

The ICO means will be distributed as per the development of the project. Bank4YOU Group plans to spend ICO means on elaboration of its system of mobile money, setting up long-term collaborations with mobile network operators, development of new software, incorporation of micro crediting system, and new financial services based on Blockchain. You are always welcome to take a look at the roadmap on the project’s site. 

CTO of the MMRS project Marcelo Ferreira concludes: "At this point, How is our ICO going to benefit the token buyer - 'what's in it for me'? I fully understood that the BFY during its sale at ICO held a discount value in relation to the real value after ICO. That is, in addition to buying the BFY at a discount during ICO, after the same, when they are available for trading in the market, the user / investor can hold the BFY betting on their valuation or trading at the market value already winning the spread of the discount offered during ICO. Outside of this obvious concept of token purchase of an ICO, there is the differential that the user can use the BFY within the Bank4YOU system and receive bonuses / rewards (described in the WP)." 

Learn more about Mobile Money Remittance System project by Bank4YOU Group at: https://bank4you.io/

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