Formance

Hi everyone!

We’re developing an open-source solution to enable fintechs, marketplaces and platforms to build, operate and track money movements of any size and shape on a solid system-of-record (also known as a financial ledger)

✌️ Check out our main Github repository here: https://github.com/numary/ledger

The problem

Fintechs, marketplaces, and platforms growth is closely tied to their ability to:

1. Process an increasing volume of transactions, and
2. Implement competitive payment scenarios, which can become increasingly complex, e.g. complex commission models, improved time-to-money and creative payout schedules, embedded fractional ownership of various investment assets, omnibus accounts and the likes.

Engineering teams spend valuable time building themselves these money flows and the way they are broken down; then making them evolve according to the development and the strategy of the company. Additionally, tracking and reconciliating these flows from pay-ins to payouts quickly upgrades itself from an small annoyance to a did-we-lost-10millions-type-of-problem™️

Formance is tackling this particular segment in the payment value chain which is still painful for engineering teams, yet critical: the break-down and tracking of money between inflows and outflows.

The solution

✌️ Check out our main Github repository here: https://github.com/formancehq/stack

Formance solution is based on four products designed to improve your economics, save time and limit costly errors:

1/ A simple and open-source programming language for money: designed for engineering and payments teams, this low-code language enables the creation of reliable and unique payment scenarios in a few hours, rather than days, without any particular technical expertise related to payments;

2/ Pre-built and extendable use-case templates: these templates allow to quickly implement new business strategies or product features, check them out here: https://www.formance.com/use-cases-library

3/ An open-source financial ledger: working in tandem with our language and designed for reliability, this immutable system-of-record enables the track financial flows that move value through various merchants, intermediaries, parties and the extraction of data for business analysis and decision-making

4/ Real-time transaction tracking tools: designed for finance and operations teams, these tools enable the reconciliation of pay-ins and payouts, and the identification of issues related to transactions.

We believe that open-source and low-code go hand-in-hand with the diversity of money flows, payment scenarios and strategies that will make your company win.

🤙 Ping us anytime, we’re always more than happy to help and have a chat!

→ Schedule a call here: https://calendly.com/numary/chat-with-numary?month=2022-07

→ Drop us an email: founders@formance.com

→ Check out use-cases library: https://www.formance.com/use-cases-library

→ Download Formance Open Source Main Repo: https://github.com/formancehq/stack