Increasing access to digital financial services and tools are critical to accelerating the rate at which the financially excluded move into the formal financial system and hold on to the gains they have made, especially in developing economies.
#Free financial software for charitable organizations how to#
Mojaloop serves as a blueprint for how to simplify and reduce the cost of payment interoperability so that banks and other providers can develop tools that meet the needs of emerging markets and the unbanked. It can be costly and complex to build interoperable systems that are inclusive to all. A lack of interoperability between digital financial services and payment platforms is a large part of the problem. ĭespite mobile money services emerging in nearly 100 countries, 1.7 billion people still lack access to digital financial services, according to the World Bank’s Global Findex. More information about Mojaloop is availa ble on GitHub and at. Coil, Bill & Melinda Gates Foundation, Google, ModusBox, Omidyar Network, and The Rockefeller Foundation have joined the organization as the initial Sponsor members. To achieve its mission, the Mojaloop Foundation will operate with an open governance model and legal framework dedicated to advancing and maintaining the Mojaloop free, open source software and development community as public goods in service of financial inclusion globally. WAKEFIELD, Mass., USA – May 6, 2020 – The Mojaloop Foundation today announced its formation as a charitable nonprofit organization to extend financial inclusion efforts initiated by the Mojaloop open source software project.