Real-Time Payments: Enabling a Connected, Cashless, and Inclusive Society
Channel: The ASF
Date: 17/10/2020

Real-Time Payments: Enabling a Connected, Cashless, and Inclusive Society
Istvan Molnar, Godfrey Kutumela

A presentation from ApacheCon @Home 2020
https://apachecon.com/acah2020/

Across the globe, real-time payment systems are being rolled out providing a higher degree of convenience, transparency, and efficiency enabling secure, cashless, and more inclusive economies transforming commerce at all levels - consumers, business, and governments. The Apache Fineract architecture will need to continue to evolve and keep pace with how value is exchanged. The Mifos Initiative has been aligning its development on Apache Fineract and Mifos to equip governments and institutions to effectively participate in the real-time systems being built in accordance with emerging standards like the Gates Foundation’s Level One Principles and complementary open source systems like Mojaloop enabling real-time interoperable payments. This session will explore the emerging trends and standards around real-time payment systems including a closer look at the ecosystems in a couple of countries, an overview of these guiding principles illustrated by Mojaloop as a reference implementation and a showcase and roadmap of the Payment Hub EE - the open source bridge and microservices orchestration layer Mifos is building to seamlessly enable accounts and wallets managed on Fineract to initiate transactions over modern real-time payment rails via mobile channels and Open APIs.

Istvan is Partner and Architect for DPC Consulting, an enterprise Java consultancy from Budapest, Hungary that has decades of experience implementing banking and real-time payment solutions at scale. Istvan has led the deployment of Mifos and Fineract at a bank in Germany as well as banks in SE Asia. Building off of the experience implementing real-time payment systems for Singapore and Hungary, Istvan has lead the design and architecture of Payment Hub EE, a powerful bridge and microservices workflow orchestration tool spearheaded by the Mifos Initiative, for integrating Fineract with real-time payment systems like Mojaloop

Godfrey has 20 years of Technology Consulting experience specializing in Fintech, Cybersecurity, DevSecOps\BizSecOps, Cloud Native and General Solution Architect. Extensive background working with large scale, high-profile systems integration and development projects that span a customer’s organization, and experience designing robust solutions that bring together multiple platforms. He is passionate about the use of technology and its applications in every aspect of humanity in order to advance the livelihood and economic conditions of the under developed world. My interests lie in helping businesses create and deliver value through innovative application of information and communication technologies with an outside-in approach, focusing on consumer and market needs