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Digital Public Good Alliance Launches Five Year Strategy

The Digital Public Goods Alliance (DGPA) is launching its flagship 5 year strategy that guides not only the Alliance itself, but lays the groundwork for collaboration with  governments, industry, the UN, civil society, and more. The DPGA is a globally distributed, multi-stakeholder alliance working to accelerate the attainment of the sustainable development goals in low- and middle-income countries by facilitating the discovery, development, use of, and investment in digital public goods.

“DPGs represent an unprecedented opportunity to fundamentally alter power balances and knowledge asymmetries by enabling countries to access cutting edge features by default, drive their own digital transformation processes, and grow their local ecosystems to derive value.”

Liv Marte Nordhaug from the Norwegian Agency for International Development Cooperation and Lucy Harris from UNICEF’s Office of Innovation, co-leads of  the DPGA Secretariat, the Alliance’s central coordinating body, have penned a blog post sharing their vision for the DPGA and will be launching this during a Zoom webinar on June 29 at 830am EDT.

This past December we announced that Mifos and Fineract had been recognized as Highlighted Digital Public Goods as part of the Financial Inclusion Community of Practice. Throughout the course of 2021, we’ve had the honor of participating in monthly roundtables with the other DPGs and are pleased to have Mifos and Fineract included in the Financial Inclusion DPGs Digital Public Infrastructures Final Report that is also being formally published at this event.

Since our origins nearly two decades ago, Mifos has been a pioneer in a humanitarian free and open source software. We’ve been honored to a be a part of the Digital Public Goods Alliance and the tremendous work it’s doing to define digital public goods, align development sector focus around them, cultivate the ecosystem for them to flourish, and catalyze new innovation by leveraging them as foundational infrastructure. 

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Mifos and Fineract selected as UN Digital Public Goods

The Mifos and Fineract communities are honored to have Mifos and Fineract be nominated and selected as Digital Public Goods by the UN-supported Digital Public Goods Alliance (DPGA). Additionally, both Mifos and Fineract along with OpenG2P, Mojaloop, and MOSIP were selected as part of the 7 key projects by the DPG Alliance’s Financial Inclusion Community of Practice (CoP) to help advance the Secretary General’s digital cooperation roadmap to achieve greater financial inclusion and meet the sustainable development goals by 2030.

The DPGA convenes expert Communities of Practice (CoPs) to support the discovery, assessment and advancement of digital public goods with high potential for addressing critical development needs in low- and middle-income countries. The Financial Inclusion CoP spent the last few months identifying and shortlisting technologies that, in a given country, can be used by a range of service providers and innovators. These technologies can be built on across sectors and have features that can allow countries to freely adopt and iterate them to meet local needs.

The DPGA along with a growing international consensus has recognized digitization of public financing as a key driver of financial inclusion at scale with government payments estimated at $220-$320 billion annually by the IMF. The COVID-19 pandemic has heightened this need to equip governments with the ability to rapidly provide accounts and disburse payments to weather the economic impact of the health crisis.

Mifos and Fineract have long aimed to provide a common set of open source building blocks for composable financial services and are happy to see the sector recognize the need to reduce duplicative efforts and formally identify and make discoverable a set of Digital Public Goods and enable collaboration and innovation around them.This critical recognition and endorsement of Mifos and Fineract as these foundational digital public goods will help us in advocating for the adoption and deployment of Mifos for G2P scenarios as countries across the globe stabilize and rebound from the pandemic.

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Mifos Recognized as 2020 Benzinga Fintech Listmaker for Best API

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. Read more

Roadmap for the Future of Fineract at ApacheCon @Home

This month marks nearly five years since The Mifos Initiative began the process of donating the Mifos X software to the Apache Software Foundation leading to the formation of the top-level project, Apache Fineract. We’re proud to see how the community has continued to grow and evolve with the first ever Fineract track taking place at this year’s ApacheCon, which is going completely virtual this year as ApacheCon @Home.

Throughout this time the Mifos Initiative has continued to act as a thought leader for democratizing financial services while stewarding the ecosystem of companies developing solutions and contributing to the upstream development on Apache Fineract. Members of the Mifos team will be leading a number of talks and moderating several panels which will showcase this ecosystem and the roadmap we’re advancing to position Apache Fineract as both a foundational digital public good and disruptive open source core banking platform

ApacheCon @Home is completely virtual this year and will be held September 29 to October 2 from xyz to xyz. View the Fineract track agenda for details on each session and register for the conference, here: https://hopin.to/events/apachecon-home. During the three day Fineract track, spearheaded by Javier Borkenztain from Fiter, there will be a range of talks and panels highlighting the past, present, and future of Fineract.

 

James Dailey, the current chairman of the Mifos board and the visionary behind Apache Fineract which originally started out as MOAP, the microbanking architecture project nearly two decades ago, will moderate a panel looking at The Present of Fineract and will give a glimpse into the future by participating in a panel envisioning Fineract in 2030 and leading a talk on Open Source as a Counterweight to PlatFins.

 

Michael Vorburger, longtime Mifos and Fineract volunteer who recently joined the Mifos Initiative board, will share his efforts in catalyzing upstream development across the community during his Fineract: Reinvigorating Community Talk which has been made possible through the development infrastructure he built out and will showcase during his Running Fineract.dev like a Cloud Native SRE session. 

 

President/CEO of the Mifos Initiative, Edward Cable, will moderate a number of different panels which showcase the expertise of our ecosystem, the breadth of use cases for which they’ve deployed Fineract, and the roadmap of how Mifos will help to guide the ecosystem in evolving Fineract as an end to end open source architecture for composable financial services.

Apache Fineract, as a flexible and scalable account and wallet management platform is the critical foundation for enabling real-time payments adoption, fueling mobile innovation at both a consumer as well as delivery channel level, helping governments digitize large scale cash transfers, and leveraging the power of data science to deliver more impactful financial services. 

  • AI for All: Democratizing Data Science for Financial Inclusion
    • Jeremy Engelbrecht of Softidoc and Lalit Mohan of IDRBT will share with you the Mifos vision of AI for All – our roadmap for enabling widespread adoption of data science tools made evident by the innovations built by our community and ecosystem. 
  • Digital Field Applications: Exploring the Spectrum of Apps to Truly Reach the Last Mile 
    • Avik Ganguly of Fynarfin will present and showcase the wide range of mobility and field force enablement applications that can be powered by Fineract to support widespread operations in the field and branchless delivery channels. 
  • To Infinity and Beyond: Scaling Fineract for the Enterprise
    • Istvan Molnar of DPC Consulting, Victor Romero of Fintecheando and Avik Ganguly of Fynarfin will share how they achieved massive scalability of Fineract for institutions ranging from Fortune 500 banks to national government-led banks to leading fintech mobile wallet providers. 
  • OpenG2P: Open Source Building Blocks for Digitizing Large Scale Cash Transfers
    • Steve Conrad of DIAL and Keyzom and Salton Massally will introduce to the Fineract community, the OpenG2P framework, an emerging coalition and reference architecture of composable digital public goods for digitizing cash transfers. 
  • Real-Time Payments: Enabling a Connected, Cashless, and Inclusive Society
    • Godfrey Kutumela representing High Touch Consulting and the Mojaloop community along with Istvan Molnar of DPC Consulting will highlight the growing adoption of national real-time payment systems guided by standards like the Level One Principles and how the Fineract community can leverage the recently developed Payment Hub EE to accelerate connection to real-time payment systems like Mojaloop
  • Open Banking: a Revolutionary Democratizing Force for Financial Services Innovation
    • Our panel consisting of Matt Millar of Updraft from the UK, Victor Romero of Fintecheando in Mexico and Ali Hussein Kassim of Kipochi from Nairobi will give insight into the transformative innovation for consumers being enabled by Open Banking standards emerging around the globe.

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