SAN FRANCISCO, Jan. 31, 2019 /PRNewswire/ -- Digital Financial Services Lab (DFS Lab), today announced it was hosting a hackathon in Dar es Salaam, Tanzania April 8 to 12. The Hackathon will offer participants an in-depth look Mojaloop, which is open-source software for financial services companies, government regulators, and others taking on the challenges of interoperability and financial inclusion. Interested applicants can apply on the DFS Lab website here.
"We're excited to host this hackathon in Tanzania and work with cutting edge startups using technology to help expand financial services," Jake Kendall, Executive Director of DFS Lab. "Interoperability is necessary for financial inclusion, but it can be difficult to achieve. Mojaloop is a true game-changer, and we're interested to see what new usages will come out of this process. We're looking for fintech companies and other innovators who recognize that switch based mobile money interoperability is coming and want to work with us to build the next generation of features and products that this enables."
"Interoperability of digital payments is one of the biggest challenges for the financial services industry, but it is also a powerful and logical way to increase financial inclusion," said Konstantin Peric, Deputy Director of Financial Services for the Poor at the Bill & Melinda Gates Foundation. "We're pleased to see Mojaloop being used to enable interoperability in several projects in Africa, notably by Mowali, a new joint venture between MTN and Orange. It's now time for fintech companies to get on board, developing and testing innovative use cases for Mojaloop through this DFS Lab event."
Mojaloop is open source software for real-time payments clearing and settlement. Mojaloop was created by the Gates Foundation's Level One Project, which is aimed at leveling the economic playing field by crowding in expertise and resources to build inclusive payment models to benefit the world's poor.
About Digital Financial Services Lab
DFS Lab is an early-stage accelerator that helps high-potential entrepreneurs refine, grow and launch FinTech businesses in developing countries. Focused on empowering communities in sub-Saharan Africa and South Asia, the Lab delivers mentorship and strategic advice to early-stage start-ups that pioneer transformative technologies that empower the poorest, profitably and at scale.
SOURCE Digital Financial Services Lab