Moov - OSS Fintech Software Company

[robi]

For those into FinTech and building payment solutions, take a look at https://github.com/moov-io for their open source work.

Moov Projects

Moov projects are focused on solving a single responsibility capability in financial services. We offer RESTFul API's on api.moov.io in a hosted service that developers can leverage for making payments.
Payments

• Moov PayGate provides a complete implementation of ACH origination (file creation), micro-deposits, SFTP uploading, and other features to be a complete system for ACH transfers.

Supporting Services

• Moov ACH (including Same Day ACH) implements a NACHA compliant RESTFul API for file creation, parsing, and validation. Supports generating and parsing all Standard Entry Class (SEC) codes. ACH is the primary method of electronic money movement throughout the United States.
• Moov Customers The Customers project focuses on solving authentic identification of humans who are legally able to hold and transfer currency within the US. Primarily this project solves Know Your Customer (KYC), Customer Identification Program (CIP), Office of Foreign Assets Control (OFAC) checks and verification workflows to comply with US federal law and ensure authentic transfers.
• Moov Watchman is an HTTP API and Go library to download, parse and offer search functions over numerous trade sanction lists from the United States and European Union.
• Moov FED implements utility services for searching the United States Federal Reserve System such as ABA routing numbers, Financial Institution name lookup and Fed Wire routing information.

Future Payment Methods

• Moov Image Cash Letter implements Image Cash Letter (ICL) files used for Check21 or Check truncation files for exchange and remote deposit in the U.S.; also known as X9 files, X9.37 files, X9.100-187
• Moov Wire (domestic Fedwire) implements an interface to write files for the Fedwire Funds Service, a real-time gross settlement funds transfer system operated by the United States Federal Reserve Banks. These compatible files include routing instructions that, once received and processed, will debit the funds from the sending bank's reserve account at their Federal Reserve bank and credit the receiving bank's account. Wire transfers sent via Fedwire are completed in the same day, while some are completed instantly.

Design Goals

The core principles underlying Moov are performance, scalability, and ease-of-use. Based on these principles, Moov is designed around the following core features:

• Highly performant (fast)
• Few opinions, lightly held (interoperability)
• Extremely lightweight (small footprint)
• Support client languages (polyglot clients)
• micro building blocks (single responsibility principle)

[marcusquinn]

@robi Not sure I understood all of that but is it similar to what Stripe are doing? https://techcrunch.com/2020/12/03/stripe-announces-embedded-business-banking-service-stripe-treasury/

[robi]

@marcusquinn No, this is at a layer lower than what Stripe is doing.

It doesn't look like Stripe is doing their Treasury in the open either, so likely closed source, open API subset.

Moov allows you to be your own Stripe without the fees.
(Stripe is a viable business because of the fees)