Mifos, the global fintech thought leader and pioneer of innovative open source banking technology for consumer financial services, has been recognized as a 2020 Benzinga Global Fintech Listmaker for Best API.
The official Benzinga Fintech Listmakers comprises 250 carefully vetted and renowned companies and executives who are striving to revolutionize the fintech industry. From deeply established companies to the newest startups, this group is impacting sectors like payments, banking, investing, technology and financial literacy.
Mifos originated the concept of Open Source Banking through a core banking platform that is open source from the ground up with a full set of APIs to build from. As the DNA of financial services that can be expressed in many ways, Mifos and Apache Fineract provide a set of open source building blocks that can be composed into financial services of any form.
Across the world from grassroots microfinance institutions in rural Africa serving dozens of clients with microloans to government-led banks in Latin America reaching millions to banks in Germany delivering mortgage loans, from digital credit startups reaching hundreds of thousands in West Africa to mobile wallet providers supporting millions in India, to cloud-based core banking systems reaching millions across multiple continents to banking as a service providers enabling neobanks, our open banking stack is transforming the delivery of digital financial services. View our Powered By Mifos section for use cases built on top of our platform.
Over the past year, Mifos has worked to expand beyond just its Fineract core banking API to provide an end-to-end architecture for digital financial services by aligning with other foundational digital public goods. This architecture can power an an entire digital financial services ecosystem with multiple layers of open APIs at the solution and application level that fuel innovation on top of digital interoperable payment rails – Open Source Banking APIs for flexible account and wallet management from Mifos and Fineract, Open APIs for real-time interoperable payments via Mojaloop, and app-level innovation enabled by Open Banking APIs, OTT mobile money APIs like the GSMA Mobile Money API and reference mobile apps. View our APIs at https://demo.fineract.dev/fineract-provider/swagger-ui/index.html.
To see all the Listmakers go to bit.ly/2020Listmakers
This list of carefully selected companies will be honored each year as Benzinga continues to
highlight the fintech industry’s most innovative minds
“We’re recognizing the companies that will define the future of our financial lives,” says
Benzinga CEO Jason Raznick.“Since the inaugural Benzinga Fintech Awards in 2015, our listmakers have closed $300 million in deals and partnered with some of the biggest players in the industry. We look forward to honoring these players for years to come, as well as finding the next generation of fintech.”
“Mifos is honored to have its Mifos and Fineract APIs be recognized along with other transformative APIs like that of Plaid and Square,” says Mifos President/CEO Edward Cable. “To date, our APIs have helped to bring financial services to millions of unbanked individuals. As we grow our set of Open APIs up and down the entire banking stack, we will fundamentally disrupt banking as we know it, fueling new innovation and democratizing financial services worldwide.”
About The Mifos Initiative
The Mifos Initiative is a FinTech non-profit leveraging the cloud, mobile & open source community to democratize financial services worldwide and digitally transform the world’s 3 billion poor and underbanked. For the past two decades, we have been an industry pioneer and thought leader launching groundbreaking open source core banking solutions helping the sector evolve. Mifos guides the open source community, steers the roadmap, and stewards the vibrant ecosystem of organizations building solutions on the Mifos and Fineract open platforms. More than 15 million customers are reached by 400+ fintechs and financial institutions across 41 countries powered by its open source banking APIs – https://mifos.org/impact/powered-by-mifos/.
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About the Benzinga Fintech Awards:
The Benzinga Fintech Awards is an exciting, forward-looking competition to highlight the
companies and individuals with the most impressive technology, advancement and innovation
who are building the future of financial services and capital markets. This year, Benzinga is proud to join forces with Envestnet | Yodlee to facilitate the most
beneficial education and impactful networking in the quickly changing space