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11:FS Foundry launches 11:Money
11:Money is the first in a series of drops, it is a pre-configured deposit account with functionality that allows:
- Quick and secure account creation
- Compliance and identity checks
- Payments to be made using cards or online
- Spend tracking
- Safeguarding by blocking spend types such as gambling
- Future planned drops include BNPL, loans, and personal money management.
Non-banks could either use 11:Money out the box utilising all the pre-configured workflows and user journeys, or take inspiration from it and construct their own through a configurator portal.
To celebrate the release, 11:FS Foundry is releasing an 11:Money NFT collection, going on sale on Monday 28th June 6pm BST / 1pm ET / 10am PT.
The collection consists of three NFT’s, a mint package, silver package and bronze package. The packages include not only unique first edition 11:Money digital artwork, but also exclusive content, show tickets and swag. All proceeds will go towards a carbon-offsetting program, making the 11:Money NFTs carbon-negative.
Details of the NFT packages can be found here: www.11fs.com/foundry-11money-nft
David M. Brear, CEO of the 11:FS Group said “11:Money shows banks and non-banks alike how quickly they can add financial products to their offerings – or take them to market as standalone products. It’s literally weeks, not years.
“Embedding finance can boost a company’s revenue by up to five times, and we’re excited to show them all what’s possible with 11:FS Foundry through our drops.”
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TSAM London: FE fundinfo on Mastering Data and Unifying Operations in Asset Management
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