Sibos Day One, The Day We Launched The Fintp Idea Contest

One thing that’s definitely different is that it seems impossible to find places that serve dinner past 10pm or exhibitors who serve much other than sweets throughout the day.

Year after year, Allevo is present. And year after year, like us at Allevo, everybody awaits to see what Sibos brings new. Well, this year it was Sibos University. A quite interesting initiative, I might say. Maybe inspired two years ago in Osaka, the SWIFT Institute describes its programme with a Japanese proverb: “Better than a thousand days of diligent study is one day with a great teacher”. But their intention was to bring not one, but many such inspiring teachers. ” Therefore, leading academics will give 30-minute lectures on a wide range of topics impacting the global financial industry, including data privacy, cloud and the trends in financial information infrastructure, Kenya’s mobile money revolution, standards in a global world and financial inclusion. We’ll see at the end if this initiative was appreciated by Sibos attendees or not.

“One thing I can tell you is / You just got to be free” – free sharing that is. “Come together, right now.”

Not sure about all the connections our brain makes, but this Beatles’ song started playing in my head since morning while thinking about the FINkers United Get-Together that we hosted this afternoon.

We organized this event to introduce the FinTP Project – Allevo’s venture of creating the first application for processing payments and financial transactions in general, distributed under free open source license (GPL v3) – and the FINkers United community to the Sibos audience. It was a time when financial thinkers’ enthusiasts around the globe put their minds together to think of ideas to enrich the FinTP application. It was a time for idea generating networking with our peers. It was a good time, accompanied by a few glasses of Prosecco and lots of good vibes .

Now that the contest just kicked-off, we renew our invitation to all Sibos attendees to take part in this idea competition.  Even if you are not a contributor to or acquainted with FinTP yet, we are curious to know what you think fit to implement in or on top of FinTP to extend or enrich its utility. It can be anything, varying from a tool that can make the life of developers, testers, business analysts better to a new feature for handling a certain type of standard or a report designed for business oriented people or even a change to the fintp.org portal. We want to know what you think FinTP needs. And for that, we have created a space where you can post your ideas for enriching FinTP and rate the ideas of other participants.

To help you for the contest, here is a short video explaining FinTP.

During Sibos, the online voting is open on fintp.org. You can share your ideas in any way that you like (twitter, Facebook, LinkedIn, emails) to make sure they get voted by your peers. The idea with the biggest rating will be awarded a techie watch on the last day of Sibos, Thursday October 2nd 16:00 at the Allevo Stand F79. The sole requirement is for the owner of the idea to physically be there to collect his or her prize. Furthermore, all ideas will be taken in front of the FINkers United board who will select those fit to be planned for future releases of the FinTP Project.

With day one in the past, we are looking forward to day two at Sibos, an important day for Allevo as we are presenting a project we hold close to our heart: BOOST – Banking On Open Source Technologies. The dedicated session will be held in Conference Room 1, at 16:00. Join us in imagining an open FinTech world, a world nurturing cooperation and idea sharing in areas that do not constitute as differentiators to the business of the institution and concentrating to fiercely compete to the best fulfillment of end customer needs.

 

By: Ioana Moldovan

FinTP, an application for processing financial transactions distributed under free open source license (GPL v3)

 

FINancial Thinkers United Get-together

Monday, Stand F79 16:00 ÷ 17:00

The FinTP Project will be showcased at Sibos in Boston. Part of the Sibos community is already familiar with Allevo’s venture of creating the first application for processing payments and financial transactions in general, distributed under free open source license (GPL v3). At the beginning of 2014 Allevo lived up to its promise and published the source code and documentation of FinTP on GitHub and introduced the fintp.org space for the community.

A call for ideas!

Even if you are not a contributor to or acquainted with FinTP yet, we are curious to know what you think fit to implement in or on top of FinTP to extend or enrich its utility. It can be anything, varying from a tool that can make the life of developers, testers, business analysts better to a new feature for handling a certain type of standard or a report designed for business oriented people or even a change to the fintp.org portal. We want to know what you think FinTP needs. We want to know which ideas you consider best. So we created this space where you can:

    1. Post your ideas for enriching FinTP
    2. Rate ideas

Competition kick-start

Allevo invites you at an event where the FinTP Project and the FINkers United community are introduced to the Sibos audience and where this contest is explained in terms of what is awarded, who can participate and what types of ideas we are looking for. The event is hosted by Allevo in its F79 booth:

FINancial Thinkers United Get-together – Monday, Stand F79 16:00 ÷ 17:00

This is the time for financial thinkers’ enthusiasts around the globe to put their minds together and think of ideas to enrich the first open source application for processing financial transactions. It is the time for idea generating networking with your peers.

We accept both online and offline ideas, exclusively from the Sibos audience. Members of FINkers United are also welcome to vote and comment on ideas posted on the fintp.org website.

Best idea wins a techie watch

During Sibos, online voting is open on fintp.org. You can share your ideas in any way that you like (twitter, Facebook, LinkedIn, emails), just make sure it gets voted by your peers. The idea with the biggest rating is awarded a techie watch on Thursday October 2nd 16:00 at the Allevo F79 booth at Sibos. The sole requirement is for the owner of the idea to physically be at Sibos to collect his or her prize. Furthermore, all ideas will be taken in front of the FINkers United board who will select those fit to be planned for future releases of the FinTP Project.

How to vote

Online voting is open during the week of Sibos Monday September 29th 09:00 EST and Thursday October 2nd 16:00 EST.

To post a new idea go here and let us know what you think cool to add to FinTP, your name and email address so we can contact you in case you win. Your name and email will not be public and we will not spam you.

All ideas will be listed in the same page and they can be rated by anybody, thus make sure you get your peers to vote for your idea.

Enter the idea contest!

Wednesday, September 24, 2014

Boston, this year’s host for Sibos, is placed among the top 30 most economically powerful cities in the world. The Greater Boston metropolitan area has the sixth-largest economy in the country and 12th-largest in the world. Enough reasons for SWIFT’s choice of location? Can’t really say as in the distribution of Boston’s economy, financial activities account for only 8%.

Anyway, the last two days of September and the first two of October, will see Boston filled with over 6000 more suits, taking part in the world’s biggest financial industry event. Five of them are our own, as for the 7th year in a row, Allevo will be among the exhibitors.

Allevo head

Why are we attending again this year?

Because Sibos offers the opportunity for enterprises to network and connect with thousands of industry decision makers, topic experts and thought leaders from financial institutions, market infrastructures, corporations and technology vendors across the globe. If you want to be a key player in the financial sector, Sibos provides the ideal platform for you to get your voice heard by the right people – it’s an event you simply cannot miss! We have ideas to share and the creativity to make those ideas appealing to both Sibos attendees and potential customers, so that’s why we are attending.

What will we be showcasing?

This year, we will bring up for discussion banking on open source technologies and what that means in today’s environment. This includes how banks can adopt and operate using open source principles and its core philosophy: free cultural success sharing, free business competition, cooperation in non-differentiating operations area, and business ethics. It is the first Sibos since we officially started publishing FinTP, so we will be focusing on the challenges of running an open source community in the tightly regulated financial services market. However, Sibos isn’t just an event to share ideas, it’s also a place to build solutions. If a customer is worried about remittances, reconciliation, Single Euro Payments Areas, regulatory compliance, transactions filtering, liquidity reporting, duplicate detection, treasury or competitive reports, we are there to show them a way to solving those challenges.

Banking On Open Source Technologies – that’s got to BOOST, right?

Imagine a bank powered by an IT infrastructure made up of free open source software. Imagine benefiting from contributions of any party interested in enriching or rethinking bits and pieces of the software code, from an approach designed to encourage collaboration, creativity and idea generation in a community that’s open and transparent. Imagine a platform that could serve as the base for creating a new standardization layer that goes beyond mere standardization at message level.

And as you imagine, think of FinTP, the first application that can process financial instruments and transactions, in general, distributed under free open source license; a vehicle that supports current financial market trends that take advantage of mobile business, personalized customer experience and shortening of supply chains, a vehicle that will empower the small and medium business to compete in this new world as well.

It is one piece of the puzzle and it can drive banks and financial institutions to do banking differently, and that is based on open source technologies, benefitting from all advantages of open source software. And when banks and financial institutions succeed to implement a completely open IT infrastructure, this next standardization level can be achieved.

And it’s got to BOOST as it has become more and clearer over the past decade that the future of software is open and that people want to communicate with peers who share common interests.

What are we most looking forward to?

We’re looking forward to discussing FinTP and its related open source community FINkers United with industry experts, as well as highlighting the benefits of open source banking technology and bringing new members into the community. We also can’t wait to launch the FinTP idea contest for features or apps that can be built on top of or connect to, FinTP. We will select the best ideas at Sibos and try implement and include them in future releases of the FinTP Project, this way giving something back to the FinTech community.

What Sibos key trend is also on our agenda?

Financial inclusion for the poor. It is still a key trend at Sibos and will continue to grow over the coming years. Financial institutions have started to look at disintermediation in a new way as they search for alternative solutions to be able to provide financial services for everyone. So the timing for the FinTP Project couldn’t be better.

What do we hope to bring back Boston?

Well, the satisfaction of yet another successful participation, of course. On top, many new good ideas for our FinTP project and new members in the FINkers United community.

What is our message for Sibos attendees?

If you are in Boston for Sibos don’t forget 4 things, just 4:

  • BOOST – come share your ideas on the topic at our session on Tuesday, September 30th, 4PM in Conference Room 1
  • FinTP Idea Contest – join us for the launch of the contest on Monday, September 29th, 4PM at Stand F79; share and vote ideas all throughout Sibos; celebrate with the winner on Thursday, October 2, 4PM at our stand F79
  • Open Source – let’s talk about financial infrastructures for public administrations in the context of a shift in philosophy  in finance, inspired by open source principles – Open Theatre One, Wednesday, October 2nd, 2PM
  • Stand F79 – where you can talk to us about all the above and many others like remittances, compliance, reconciliation, AML filtering, duplicate detection, liquidity reporting.
By Ioana Moldovan,24 September 2014.

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