Hey hunters! 👋 I’m Clem from Formance and today we’re really thrilled to launch the Open-Source Formance Stack on Product Hunt. We started building Formance in 2021 out of frustration with not having an off-the-self solution to build and track custom money flows. I'worked at a European marketplace with complex payment flows and real-time money-movement systems, building and scaling the payment infra there for 5 years and I know by experience this can be quite challenging, and absolutely critical. After weeks of user calls, we quickly realized that moving money properly is quite a challenge for any money-moving business (and not only marketplaces), and that the growth of fintechs, marketplaces, and platforms is closely tied to their ability to: - Process an exponentially increasing volume of transactions - Implement competitive payment scenarios, which can become increasingly complex e.g. multiple commission models, improved time-to-money and creative payout schedules, embedded fractional ownership of various investment assets, omnibus accounts and the like. Engineering teams spend valuable time building themselves these money flows and the way they are broken down; then making them evolve according to the development and the strategy of the company. Additionally, tracking and reconciliating these flows from pay-ins to payouts quickly upgrades itself from an small annoyance to a did-we-lost-10millions-type-of-problem™️ We are tackling this particular segment in the payment value chain which is still painful for engineering teams, yet critical: the break-down and tracking of money between inflows and outflows. In short, our product lets you model and record complex money movements, helping you accelerate your business operations. Build financial dashboards, deliver payments to your partners, and accurately track revenue across your entire operation. The Formance solution is based on four products designed to improve your economics, save time, and limit costly errors: 1/ A simple and open-source programming language for money: Numscript is designed for engineering and payments teams. This low-code language enables the creation of reliable and unique payment scenarios in a few hours, rather than days, without any particular technical expertise related to payments. 2/ Pre-built and extendable use-case templates: These templates let you quickly implement new business strategies or product features. Check them out here: https://www.formance.com/use-cas... 3/ An open-source financial ledger: Working in tandem with Numscript and designed for reliability, Formance Ledger is an immutable system-of-record that enables tracking financial flows that move value through various merchants, intermediaries, parties and the extraction of data for business analysis and decision-making. 4/ Real-time transaction tracking tools: Designed for finance and operations teams, Formance Cloud enable the reconciliation of pay-ins and payouts, and the identification of issues related to transactions. We believe that open-source and low-code go hand-in-hand with the diversity of money flows, payment scenarios and strategies that will make your company win! Give it a try at https://github.com/formancehq, and let us know what you think! We’d be happy to answer any question you may have in our Slack channel at https://formance.com/slack

Clément Salaün

Formance

Maker