Fineract provides a reliable, robust, and affordable solution for entrepreneurs, financial institutions, and service providers to offer financial services to the world’s 2 billion underbanked and unbanked.
Type of Digital Public Good
- Open content
- Open data
- ✅ Open software: Source Code Repository
- Open standard
- Open AI model
1. Is it relevant to one of the Sustainable Development Goals?
- 1. No Poverty
- 16. Peace and Justice Strong Institutions
- 17. Partnerships to achieve the Goal
2. Does it use an appropriate open license?
Yes, this project is licensed under the following license(s):
3. Is ownership clearly defined?
Is the ownership of the project and everything that the project produces clearly defined and documented?
If yes - please link to the relevant copyright, trademarks, or ownership documentation for the project.
4. Does the license of libraries/dependencies undermine the openess of the project?
Does this open project have mandatory dependencies (i.e. libraries, hardware) that create more restrictions than the original license?
If yes - are the open source components able to demonstrate independence from the closed component(s) and/or are there functional, open alternatives?
If yes - please describe how the open source components are independent and/or list the open alternatives for the closed component:
5. Is there documentation?
Does some documentation exist of the source code, use cases, and/or functional requirements. For software projects, this should be present as technical documentation that would allow a technical person unfamiliar with the project to launch and run the software. For data projects, this should be present as documentation that describes all the fields in the set, and provides context on how the data was collected and how it should be interpreted. For content, this should indicate any relevant compatible apps, software, hardware required to access the content and any instructions about how to use it.
If yes - please link to the relevant documentation:
6. Is non PII data accessible?
Does this project collect or use non-personally identifiable information (non-PII) data?
If yes - is there a mechanism for extracting or importing non-personally identifiable information (non-PII) from the system in a non-proprietary format?
If yes - describe the mechanism for extracting or importing non-personally identifiable information from the system in a non-proprietary format:
7. Does the project adhere to privacy and other applicable international and domestic laws?
Has this project taken steps to ensure adherence with relevant privacy, domestic, and international laws? For example, the General Data Protection Regulation (GDPR) in the European Union or the Supplementary Act A/SA.1/01/10 on Personal Data Protection for the Economic Community of West African States (ECOWAS) (yes/no)
If yes, please list some of relevant laws that the project complies with:
- GDPR, PSD2, OFAC, AML, CFT
8. Does the project adhere to standards and best practices?
Does this project support standards? (i.e. Web Content Accessibility Guidelines (WCAG) 2.1 or other standards such as those listed on W3C)
Which standards does this project support (please list)
- W3C, Open Banking Standards, Java Coding Standards
Can you point to evidence of your support? (i.e. please link to your validator, open test suite, etc.)
Was this project built and developed according to or in adherence with any design, technical and/or sector best practices or principles? i.e. the Principles for Digital Development?
Which principles and best practices does this project support (please list)
- Principles for Digital Development
9. Does the project do no harm?
Has this project taken steps to anticipate, prevent and do no harm?
On the whole, does this project take steps to ensure that it anticipates, prevents and does no harm?
Is there any additional information you would like to share about the mechanisms, processes or policies that this project uses to avoid doing harm?
Our social mission is imperative to the project and as a top-level project within the Apache Software Foundation, we adhere to all the norms, governance, policies and procedures of ASF and the Apache Way
9.a. Data Privacy & Security
Does this project collect or store personally identifiable information (PII) data?
If yes - please list the types of data collected and/or stored by the project:
- As a financial services core banking platform, customers that use the software collect data on their individual clients like name, date of birth, address, ID/SSN, etc.
If yes - does this project share this data with third parties?
Please describe the circumstances with which this project shares data with third parties. Please add links as relevant.
- We don't.
If yes - does the project ensure the privacy and security of this data and has it taken steps to prevent adverse impacts resulting from its collection, storage and distribution.
All data in the platform is highly secure and encrypted and we provide the tools in which to securely deploy the platform in the cloud or on-premise installations such that it's secured against adverse impacts related to PII.
9.b. Inappropriate & Illegal Content
Does this project collect, store or distribute content?
If yes - what kinds of content does this project, collect, store or distribute? (i.e. childrens books)
If yes - does this project have policies that describe what is considered innappropriate content? (i.e. child sexual abuse materials)
If yes - please link to the relevant policy/guidelines/documentation.
If yes - does this project have mechanisms for detecting and moderating innappropriate/illegal content?
If yes - please describe the mechanism for detecting, reporting and removing innapropriate/illegal content (Please include the average response time for assessment and/or action. Link to any policies or descriptions of how inappropriate content is handled):
9.c. Protection from harassment
Does this project facilitate interactions with or between users or contributors?
If yes - does the project take steps to address the safety and security of underage users?
If yes - please describe the steps this project takes to address risk or prevent access by underage users:
- We have a code of conduct and a PMC to oversee community interactions. When we participate in programs like Google Code-In, we follow Google norms for restricting access to PII of high-school contributors only having them share their avatar, etc.
If yes - does the project help users and contributors protect themselves against grief, abuse, and harassment?
If yes - please describe the steps taken to help users protect themselves.
Development & deployment countries
List of countries this project was developed in.
- South Africa
- Sierra Leone
List of countries this project is actively deployed in.
- South Africa
- Sierra Leone
- United Kingdom
- Dominican Republic