BOOSTing (Banking On Open Source Technologies) the public sector’s payment services

There is a smaller adoption rate of open source software at the application level in the financial industry compared to other critical industries such as health care, education, automotive or utilities. Still, Allevo banks on the chance that market players (both solution providers and beneficiaries) will evaluate how they can architect their operations based on the freely available FinTP, the financial transactions processing application published into open source. Another important driver relates to financial institutions’ (FIs) business model. If, for instance, financial inclusion is their core business, than commodity solutions become instrumental in achieving the right level of accessibility.