Relationship between Allevo and FinTP Project

What is the relationship between FinTP Project and Allevo?

The FinTP Project is a global partnership between the members of the open source community FINkers United. The FinTP Project is sponsored by Allevo, which invests in the FINkers United infrastructure and 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® Community Edition (FinTP CE) distribution and Allevo® FinTP Enterprise Edition (FinTP EE) distribution are open source outputs. FinTP CE is built by the FINkers United® community for the benefit of the community. Allevo FinTP EE 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 institutions, corporate treasuries, and other businesses – choose Allevo FinTP EE to take advantage of the platform’s performance, scalability, reliability, stability and security.

Mutually beneficial relationship

FinTP CE benefits from the sponsorship and 15 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 CE an ideal incubator and proving ground for features that eventually get incorporated into Allevo FinTP EE. Conversely, any new development/enhancement done by Allevo is subsequently reverted to FINkers United, to be integrated into FinTP CE.

FinTP CE – 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 CE provides an open source financial transactions processing suite with an extensive set of functionalities.

FinTP EE – stable, supported open source platform

When you choose to run Allevo FinTP EE you get a robust and stable platform, 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. FinTP EE 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.

Qualitatively, the steps Allevo have planned to prepare for getting public with FinTP Project and launching the related FINkers United community are:

  • May 2012 – Allevo has publicly launched the FinTP project and published its vision and scope
  • March 2013 – the FinTP® and the FINkers United® trademarks were registered with OHIM
  • April 2013 – a limited subset of FinTP code and libraries was published, with a goal to get support from the first professionals interested to work with Allevo to this project.
  • Mid-May 2013 – the first hackathon-like event was organized, to verify the infrastructure, documentation and the ‘first feeling’ of FinTP code.
  • Summer 2013 – continuously uploading of the FinTP source code until its completion by September 2013.
  • First half October 2013 – Allevo organized the second hackathon meant mostly to verify the consistency of the community related processes and the quality of the service provided by the different assigned new roles.
  • January 2014 – getting public with the FinTP Project.
  • 24 January 2014 – official launch of the FINkers United community.