Keynote: Open Source Banking: End Poverty One Line of Code at a Time - Ed Cable, President
Channel: The Linux Foundation
Date: 25/10/2018

Keynote: Open Source Banking: End Poverty One Line of Code at a Time - Ed Cable, President & Chief Executive Officer, Mifos Initiative

Did you know that open source is a critical piece of the solution to ending global poverty? Why just simply scratch an itch when you can end poverty one line of code at a time. The World Bank has a target of ending Extreme Poverty (people living on less than $1.90 per day) by 2030 - while they just announced that global poverty is at its lowest rate in history, we are not on target to achieve that goal.

A new approach is needed, an open one. The Mifos Initiative has been refining our completely open fintech approach for the past decade. While it starts with technology - truly open source core banking infrastructure - it doesn’t stop there. It’s guided by a global open source community, sustained and supported by open source business models, and fueled by open standards and open knowledge sharing. We’ll walk you through the evolution of our core banking stack, show you the innovations our ecosystem has pioneered, demonstrate its incredible impact in reaching 10 million individuals globally, and help you discover how you can join us in fighting poverty with financial inclusion 

About Ed Cable
Ed has been a part of the Mifos project since 2007 in its early days at Grameen Foundation. He oversaw the open source community, connecting its members worldwide with the tools, support, and engagement needed to build and use Mifos. Leading the growth of this burgeoning community, he saw the dedication and persistence of its members and decided to found COSM (now the Mifos Initiative) to unite their efforts and help them collectively fulfill the vision Grameen Foundation set out to achieve. Prior to this, he graduated from the Wharton School at the University of Pennsylvania where he led marketing for the nation’s largest student-run credit union and discovered his passion for technology-driven international development in their budding social entrepreneurship program. When he’s not watching over the Mifos community, he’s tending to another community of sorts, his mini-farmhouse of animals – chickens, bunnies, dogs, goats, cats, birds, and fish.