Steve Haley, Director of Market Development at the Mojaloop Foundation, is a co-author of a new paper from the Saïd Business School at Oxford University. Titled “Bridging the Financial Divide: An Open-Source Solution to Inclusion,” the paper is also co-authored by Kyeyoung Shin and Pinar Ozcan.
The study examines how open-source digital public goods like Mojaloop can transform access to financial services, particularly for individuals and communities excluded from conventional digital finance. By fostering more inclusive societies, platforms like Mojaloop are not just technological solutions — they are catalysts for social change.
The paper highlights the acceleration of Mojaloop adoption as of 2025 following a targeted go-to-market (GTM) strategy implemented starting in 2023. This approach addressed several long-standing challenges: overcoming misconceptions about open source software, navigating entrenched government and financial institution procurement processes, and demonstrating the benefits of inclusive instant payment systems (IIPS) in a complex and evolving market.
Through initiatives like the Proof of Concept program for adopters and the Accelerator Program for system integrators, the Mojaloop Foundation demonstrated the platform’s real-world value. These hands-on efforts helped stakeholders see beyond theoretical concerns, fostering trust and building a robust adoption pipeline. Within just two years, five countries were on track for full-scale implementation, with dozens more progressing through different stages of adoption.
The paper also emphasizes the importance of advisory support, local champions, and strategic partnerships in overcoming structural barriers to adoption. By combining these approaches, the Foundation has not only expanded Mojaloop’s adoption footprint but also reshaped perceptions of open-source financial infrastructure worldwide.
