Formance

Formance is for engineering and finance teams building products that hold or move money, such as marketplaces, fintech services, and digital wallets. It provides a financial backend for recording transactions, tracking balances, and coordinating money flows across payment providers. Its programmable, double-entry ledger records transactions across accounts and currencies, with an immutable history and balances that can be queried over time. Payment connectivity brings supported providers into a shared data model for payments, balances, and payouts. Teams can also use workflows to coordinate steps such as fee splits, holds, and payouts; wallet services to manage user funds; and reconciliation to compare ledger balances with external payment accounts and flag differences. Formance may suit teams that need to build custom payment or wallet flows and keep internal financial records aligned with activity at banks and payment service providers. It is developer-oriented, with APIs and Numscript, a language for describing money movements. The platform is available as a managed cloud service or can be self-hosted; available modules depend on the deployment.

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