Relationship with Allevo
What is the relationship between FINkers United and Allevo?
The FINkers United community is legal entity registered by Allevo, purposed to be an open source community, hosting various open source projects. The FinTP Project is sponsored by Allevo, which invests in the FINkers United infrastructure and allocates resources to encourage collaboration and incubate innovative new developments. They are built within the community and released under the GPL v3 license, so other open source communities are free to study, adopt, and modify them. Some of these developments may later be integrated into Allevo products or into any others’, as long as the GPL v3 license is not infringed.
Community vs. enterprise
Both FinTP, in the community distribution, and the FinTP guaranteed by Allevo distribution are open source applications. The first is built by the FINkers United® community for the benefit of the community. The version guaranteed by Allevo is industrialized, built, customized and validated by Allevo with the explicit intent of being used as an enterprise platform.
Developers and other professional enthusiasts go to FINkers United for the latest features and the opportunity to directly collaborate with Allevo peers (engineers, business analysts etc.). Stakeholders in enterprises – banks, microfinance, SMEs, corporate treasuries, and other businesses – choose the version guaranteed by Allevo to take advantage of the platform’s performance, scalability, reliability, stability and security.
Mutually beneficial relationship
The community version of FinTP benefits from the sponsorship and 20 years expertise feedback from Allevo, enabling a rapid maturation of the application; the broad knowledge base and the collaborative power within FINkers United makes FinTP an ideal incubator. Any new development or enhancement done by Allevo is subsequently posted to FINkers United.
FinTP community – rapid development of the latest technology
FINkers United has many users, contributors and supporters, who interact through various online forums, email lists, and wikis to support each other. With a rapid development and release cycle, FinTP provides an open source financial transactions processing suite with an extensive set of functionalities.
FinTP guaranteed by Allevo – stable, supported open source application
When running FinTP as guaranteed by Allevo, you get a robust and stable application, ready for mission-critical operations, with as much as successfully 9-year of practice proven production, but you also get the benefits of a wide-ranging community of skills – spanning from deep technical expertise to financial business proficiency. The guaranteed version comes with a comprehensive set of maintenance and support services.
Learn more about the history of both FinTP Project and Allevo
There has been over a decade of financial transactions processing applications development at Allevo. All began in 2001 with qBC, a financial messages routing middleware connecting different applications. This was the precursor of qPayIntegrator, started in 2003 and implemented one year later in six major Romanian financial institutions – to connect them to the national electronic payment system (i.e. REGIS, SENT and SaFIR – corresponding to RTGS, ACH and GSRS). Since then, several functionalities were added on top of qPayIntegrator engine, providing support for the most used funds transfer instruments (payment orders, direct debit, debit instruments), including operational features for risk containment (AML filtering, duplicate detection, reconciliation), liquidity reporting, remittances end-to-end management and SEPA and TARGET2 compliance.
Beginning with 2011, Allevo initiated the FinTP Project i.e. offering under GLP v3 license its redesigned qPayIntegrator application for financial transactions processing, a nine years practice proven, rich functionalities set, stable and global financial standards compliant solution.
In 2017, Allevo received financial support for a 2-year project for developing an innovative open source solution for corporate treasuries, as part of the Competitiveness Operational Programme 2014-2020. The TOSS – Treasure Open Source Software project is co-financed by the European Regional Development Fund under the Competitiveness Operational Programme 2014-2020, Priority Axis 2 “Information and Communications Technology (ICT) for a competitive digital economy”.
As part of this project, Allevo re-purposed FinTP in an environment suiting SME and corporate treasuries, posting it to Github, alongside FinTP. New functionalities are posted to Github, along with an automated testing tool and a benchmarking tool. At the same time, the community portal is revamped and redesign to be more collaborative and richer than before.
Milestones of the timeline include: