In the second part of this series on the challenges of building open, interoperable payments in Myanmar’s microfinance industry, we elaborate on the project’s first use case. Learn why we are developing a standardized loan repayment system in collaboration with the country’s financial institutions. Wherever you are in the world, you are likely to be […]
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Category: Financial Inclusion
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A Case Study in Interoperable Payments in Myanmar’s Microfinance Industry Part 1: The Challenges
Over the last six months, our team has collaborated with UNCDF Myanmar to demonstrate the benefits of interoperable, real-time payments for about five million microfinance customers in Myanmar. But it hasn’t been easy. In this blog, we’d like to share some of the barriers we faced, discoveries along the way, and our approach to “getting […]
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3 Lessons Learned During COVID-19 About the Future of Cash
Will cash be a thing of the past in the post-COVID-19 world? In just a few months, COVID-19 has managed to fundamentally disrupt the philosophies, processes, and systems of societies across the globe. One thing is for sure; our future will look very different. Business travel will never be the same, and companies are opting […]
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Introducing Mojaloop Release v10.4.0
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Announcements
, Financial Inclusion
, Fintech
, Mojaloop
, Open Source
We are excited to announce the latest Mojaloop release! With this release, support for organizations managing bulk disbursements and using non-Latin-based characters in names is available. Additionally, the implementation of Financial Service Provider Interoperability (FSPIOP) API v1.1 improves flexibility for financial institutions to conduct two-phase commits on funds, further reducing reconciliation risk. This release, packaged […]
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Mojaloop (PI-11) Open Source Convening Recap
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Financial Inclusion
, Fintech
, Mojaloop
, Open Source
If you weren’t able to attend July’s Mojaloop Community Event, you missed some exciting updates, fun demos, and presentations from various members of the open source community. After each quarterly meeting, we enjoy sharing the progress updates that our team is most excited about as the program transitions into the next increment. As members of […]
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Mojaloop Phase Four (PI-11) Convening – Online Event!
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Events
, Financial Inclusion
, Mojaloop
, Open Source
The next community gathering for Program Increment (PI) 11 is here! The first online meeting was a huge success back in April. Once again, we will be meeting virtually July 20-24, 2020! I’m excited to share a bit about what’s new for this month’s convening. First, as usual, a little about Mojaloop and the purpose […]
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Announcing v1.1 of Mojaloop’s Financial Service Provider Interoperability API
We are excited to announce the release of version 1.1 of the Mojaloop Financial Services Provider Interoperability (FSPIOP) API Specification. Currently, there are three APIs in the Mojaloop ecosystem: Mojaloop FSP Interoperability API Settlements API Admin / Operations API The FSPIOP API enables an interoperable financial transaction between a Payer account from one financial service […]
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4 Digital Essentials for Microfinance to Survive the Economic Rainy Season
The microfinance industry is in trouble. And, along with it, the funding of nearly 140 million businesses representing nearly half of jobs worldwide. This is a global crisis that is, unfortunately, flying under the radar. Microfinance is a high-touch industry. Loans are initiated in-person. Loans are collected in-person. During the current stay-at-home orders seen around […]
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Mojaloop Partner Program: Accelerating Financial Inclusion
Our team has worked hard to be one of the leading contributors to Mojaloop, the world’s first open source platform for interoperability in a real-time payment network. Mojaloop is set up to scale real-time payments because it is modern, open source, low-cost, and was built for all types of digital financial service providers (DFSPs) including […]
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