repository·develop·Indexed 25 days ago
https://github.com/apache/fineractAn open-source core banking platform providing a flexible foundation for financial services. Documentation covers local development setup using PostgreSQL, the Fineract Java Client library, integration testing, and the Progressive Loan Embeddable Schedule Generator. It includes details on demo database configurations (Bare Bones, default-demo, and latam-demo) and a proposed type-safe, DTO-driven command processing API architecture.
The default-demo database provides a pre-configured environment containing the latest schema DDL and the minimum reference data required to deploy and interact with the Fineract platform. This is useful for testing legacy documentation interactions or performing a quick setup.
Included Reference Data:
Latam HO is created.Super user is created, which includes the Full Authorisation permission.Default Application User Credentials:
quipoquipoSuper user (allows all operations in any office/branch)Latam HOApache Fineract is built using the following technology stack:
The Bare Bones Demo database contains the latest schema DDL and the minimum required reference data for a functional platform deployment. It includes:
Head Office.Super user with Full Authorisation permissions.Client Identifier with default values of {'Passport number'}.maker-checker is available to enable or disable the maker-checker feature globally. It is disabled by default.datatables approach is configured.To keep the demo lightweight, the following are not pre-configured:
Use the following links to access the official Apache Fineract project resources:
org.eclipse.persistence.tools.weaving.jpa.StaticWeave to perform bytecode transformations on compiled classes. This process ensures that JPA-managed classes are optimized before the application runs.Loan Re-Aging, also known as a Settlement Plan, is a feature used to assist customers in financial duress by restructuring their loan repayment schedule.
It creates a new set of installments for an existing loan account based on the current outstanding principal. For example, a customer with a 750 euro balance could have that balance spread over 12 months with 10 equal payments instead of the original schedule.
Re-amortization is a specific allocation strategy for future installments. Instead of paying off a single installment in full, the transaction amount is divided into equal portions based on the number of remaining future installments. Each of those installments is then paid by its respective portion.
In a typical workflow, the system attempts to allocate the principal portion first. If there are remaining unprocessed amounts after the principal portions are covered, the rest of the outstanding balances are allocated according to the remaining configured rules.
Apache Fineract uses interest posting period types to determine the calendar interval at which accrued interest is credited (posted) to savings and fixed-deposit accounts. These types are divided into two categories: Standard (aligned to fixed calendar boundaries) and Anniversary-Based (anchored to the account activation date).
These types align with fixed calendar boundaries or the configured financial year.
| Code | Name | Description |
|---|---|---|
1 | Daily | Interest is posted every day. |
4 | Monthly | Interest is posted on the first day of each calendar month. |
5 | Quarterly | Interest is posted on the first day of each calendar quarter, aligned to the configured financial-year beginning month. |
6 | Bi-Annual | Interest is posted twice a year, aligned to the configured financial-year beginning month. |
7 | Annual | Interest is posted once a year on the first day of the month that begins the configured financial year. |
These types use the account's activation date as an anchor. The posting schedule is determined by the day-of-month of activation rather than fixed calendar boundaries.
| Code | Name | Description |
|---|---|---|
8 | Anniversary Monthly | Interest is posted every month on the same day-of-month as the account activation date. |
9 | Anniversary Quarterly | Interest is posted every three months on the same day-of-month as the account activation date. |
10 | Anniversary Bi-Annual | Interest is posted every six months on the same day-of-month as the account activation date. |
11 | Anniversary Annual | Interest is posted every twelve months on the same day-of-month as the account activation date. |
The Disable/Enable functionality in Working Capital does not use new tables. Instead, it appends rows to existing action tables, using the action column to distinguish between different types of operations.
DISABLE row is inserted with a start_date representing the business date of the action. While the feature is disabled, the end_date remains null.ENABLE row is inserted. The existing DISABLE row's end_date is updated to enableDate - 1.created_by, last_modified_by, created_on_utc, and last_modified_on_utc.m_wc_loan_delinquency_actionMaps to the WorkingCapitalLoanDelinquencyAction entity. Used for managing delinquency status.
| Column | Type | Nullable | Meaning for Disable/Enable |
|---|---|---|---|
id | BIGINT (PK) | No | Surrogate key |
wc_loan_id | BIGINT (FK) | No | Owning loan ID (m_wc_loan.id) |
action | VARCHAR(128) | No | DISABLE or ENABLE |
start_date | DATE | No | Business date of the action |
end_date | DATE | Yes | null while active; enableDate - 1 once enabled |
m_wc_loan_breach_actionMaps to the WorkingCapitalLoanBreachAction entity. Used for managing breach status.
| Column | Type | Nullable | Meaning for Disable/Enable |
|---|---|---|---|
id | BIGINT (PK) | No | Surrogate key |
wc_loan_id | BIGINT (FK) | No | Owning loan ID (m_wc_loan.id) |
action | VARCHAR(128) | No | DISABLE or ENABLE |
start_date | DATE | No | Business date of the action |
end_date | DATE | Yes | null while active; enableDate - 1 once enabled |
Fineract supports external message brokers for two main use cases: sending External Business Events (e.g., ClientCreated) and executing Partitioned Spring Batch Jobs (remote partitioning).
To enable JMS-based messaging, configure the following environment variables:
FINERACT_REMOTE_JOB_MESSAGE_HANDLER_JMS_ENABLED=trueFINERACT_REMOTE_JOB_MESSAGE_HANDLER_SPRING_EVENTS_ENABLED=falseFINERACT_REMOTE_JOB_MESSAGE_HANDLER_JMS_BROKER_URL=tcp://<broker-host>:<port>Kafka support is disabled by default. Configuration properties are documented in the official Fineract Platform documentation. Fineract supports both PLAINTEXT brokers and AWS MSK (using IAM authentication via an included JAR).
Working Capital Loans with amortizationType = EIR use a two-track model to distinguish between contracted schedules and actual payment behavior.
expectedBalance: The running outstanding principal balance assuming all expected payments are made on time. It decreases monotonically from netDisbursementAmount to zero.expectedDiscountFeeBalance: The remaining unrecognized discount fee income based on expected amortizations: discountFee − Σ(expectedAmortizationAmount[1..i]).actualBalance: The running outstanding principal balance based on actual cash payments received. It deviates from the planned balance when actual payments differ from expected.actualDiscountFeeBalance: The remaining unrecognized discount fee income based on actual amortizations: discountFee − Σ(actualAmortizationAmount[1..i]).calculatedTillDate has been reached. Future unpaid periods are null.actualBalance[i] == expectedBalance[i]).actualBalance[i] < expectedBalance[i]).null if no payment was received for a future period.