Bankera is a bank that will be built for the blockchain era using technology to reduce the number of counterparties, thus lowering the cost of banking for the end consumer.
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 or partnerships 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.