Bank4YOU Group

Bank4YOU Group

Created using Figma
Created using Figma
Mobile Money Remittance System - first convergence of cryptocurrencies with mobile network operator’s accounts based on blockchain. The Bank4YOU Group’s own, unique card solutions come packed with a range of state of the art mobile banking services. In addition, easy-to-use mobile Bank4You app at no charge, created by a team of highly-skilled and vastly experienced fin-tech specialists can be downloaded at App Store and Play Market.
Risk: High
Nov 6, 2017
Jan 31, 2018
100% completed
$7 535 815
15% cap completed
Cap 50 000 000.00 USD
past
  • 1 BFY
    =
    0.21 USD
Token Details
Ticker
BFY
Accepted Currencies
ETH, BTC
Company Details
Registered Country
United Kingdom
Additional Details
Categories
Cryptocurrency, Business services

About Bank4YOU Group

Established in 2013 and headquartered in London, UK, in 2016 Bank4YOU transformed into Bank4YOU Group, an 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.

Bank4YOU Group provides customers with a wide range of pre-paid card options as well as other financial solutions. State of the art fin-tech products are developed for people with active lifestyles, such as students, tourists, migrant workers, and frequent travellers.

One of the biggest concerns for most people travelling to another country for extended periods is how to obtain access to banking services without the need to be a resident of that country. Bank4You Group makes it really easy for visitors to make in-country as well as cross-border payments, without the need for proof of residency or a local bank account. Its secure money transfer is based on use of state-of-the-art mobile app.

Bank4You Group now intends to launch its own ICO in order to accelerate the goal of scaling its service rollout across Africa, Asia, and Latin America. Based on current Bitcoin pricing and investments achieved by other similarly sized projects in the same sector, an indicative estimate for the total funding requirement is $10 million. This funding is required to support the company’s expansion into new markets and to develop enhanced services (including consumer micro-loans and the incorporation of Bitcoin and other crypto currencies within its money transfer services). It is expected to drive exponential customer growth, and the company believes it will have a signicant positive impact on its market value.

Bank4YOU Group Roadmap

  • 2013

  • Establishment of Bank4YOU
  • 2015

  • Implementation of Bank4YOU card solutions
  • 2016 Q1

  • Launch of mobile banking app followed by its release on App Store and Google Play
  • 2016 Q4

  • Transformation into Bank4YOU Group due to business growth and market expansion
  • Read More
  • 2017 Q4

  • ICO Mobile Money Remittance System project launch
  • 07.11.2017

  • Participation at FinovateAsia 2017. Presentation of demo version of mobile app with MMRS functionality.
  • 2018 Q1

  • Creation of Bank4YOU mobile network operator consortium to provide digital infrastructure for MMRS project
  • 2018 Q3

  • MMRS project beta version launch
  • 2018 Q4

  • MMRS final version release.

Activity

Activity:
196
MEDIUM
Posts:
2 949
VERY HIGH
Views:
10 420
VERY HIGH
Activity:
196
MEDIUM
Merit:
10
LOW
Posts:
71
VERY LOW
Views:
2 603
LOW
Users:
37
LOW
Posts:
2
VERY LOW
Followers:
32
VERY LOW
Likes:
30
VERY LOW
Followers:
2 062
MEDIUM
Tweets:
424
HIGH
30 Days Growth:
-8

Bank4YOU Group Team

Verified 100%

David Agar
CEO
verified
Adam Lane
Managing director
verified
Marcelo Ferreira
Chief technical officer
verified
Peter Davis
Chief financial officer
verified

2 ICO

$7 535 815

Justin McCarthy
Chief marketing officer
verified
Sin Chee Saw
Vice president, business development, Asia
verified
Tariyel Tahirov
Vice president, business development, Middle East...
verified

2 ICO

$46 146 167

Paul Scott
Vice president, business development, Africa
verified
Paul Griffiths
Chief Operating Officer
verified
Andrew Malek
Banking Technology Consultant
verified

Advisors

Verified 100%

2 ICO

$7 535 815

Deborah Mills
Legal adviser
verified
Peter Burningham
Talent acquisition adviser
verified

2 ICO

$7 535 815

Malcolm Bloom
Financial Adviser
verified
Shahnawaz Aziz
Technical Architecture Adviser
verified

7 ICO

$9 895 176

Brennan Bennett
Blockchain Technology & Strategy Advisor
verified

Bank4YOU Group Last News

3.47
risky+
5.0 11
ICO Profile Vision Activity Potential Product Team

Bank4YOU Group Reviews

icoscoring.com
ICO review website

The Mobile Money Remittance market is highly competitive and has high barriers to entry. There are a lot of strong players on the market, for example WorldRemit, which can quickly implement crypto-currency money transfer servicies. The company doesn't describe the market entry strategy into new markets. Bottleneck of expansion's strategy is choise of target markets. 

There are no test releases available at this time. Product does not have sustainable competitive advantages. According to Similar Web, current mobile applications of Bank4you do not demonstrate good traction (Total Installs: 500 - 1K). The key component of project's business model is to set up a consortium of mobile operators. All mobile operators that have concluded partnership agreements will be able to give their subscribers the opportunity to receive or send cross-border payments to subscribers of all other partner mobile operators. HOWEVER, there is no information about arrangements and their status with each partner. The company does not provide the mechanism of return on investment The financial forecasts provided by the project are unrealistic (total expanses is less than 7% of revenue) A hard cap of 50 million USD seem excessive in comparison with companies, which was raised money at the same stage of development ((according to Pitchbook data) There is no detailed plan of spending the funds collected within ICO.

Founder and CEO of the Hirefone Group and VC backed Gosim.com, David specializes in developing successful strategies that deliver sustainable high growth. But neither Hirefone Group nor Gosim.com have not showed good traction.

Read More
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