The open source Mojaloop software was first established in 2017 by the Bill & Melinda Gates Foundation, to support its financial inclusion work– specifically the creation of open, interoperable solutions that improve access to digital financial services for the underserved. To date, Mojaloop has more than 400 developers who are collaborating on the software.
The Mojaloop Foundation brings together the financial inclusion and technology leaders needed to share best practices and ideas for developing innovative financial inclusion mobile solutions that can ultimately be implemented in key regions across the world.
The open source software won’t address the gap in digital financial services on its own, but it can help service providers open markets and accelerate progress.
With support and funding from the Gates Foundation, Mojaloop was designed by a team of leading tech and fintech companies: Coil, Crosslake Technologies, Dwolla, ModusBox, Ripple, and Software Group. It is available as an open-source project and is free to be used and adapted by anyone under the Apache 2.0 license. For more information on how Mojaloop ties into the larger initiative of financial inclusion, visit LevelOneProject.org.
