Comparison · 2026 edition
Formance vs Pismo: core banking compared 2026.
Formance and Pismo side by side in the Core Banking and Ledgers Index 2026: scores, evidence, published facts and awards.
WhatsApp and Telegram +44 7563 115980
[email protected]
Formance and Pismo side by side in the Core Banking and Ledgers Index 2026: scores, evidence, published facts and awards.
In the Core Banking and Ledgers Index, Formance scores higher overall: 3.0 out of 5 (59 out of 100) against 2.5 (50), ranking 3 and 5 of 12. Formance scores higher for e-money and payment firms and fintechs building their own products; they tie for banks and building societies.
Overall and segment scores out of 100, and the score out of 5.
| Score | Formance | Pismo |
|---|---|---|
| Score out of 5 | 3.0 | 2.5 |
| Score out of 100 | 59 | 50 |
| Overall rank | 3 of 12 | 5 of 12 |
| For banks and building societies (out of 100) | 59, rank 3 | 59, rank 2 |
| For E-money and payment firms (out of 100) | 60, rank 2 | 50, rank 4 |
| For fintechs building their own products (out of 100) | 59, rank 3 | 42, rank 7 |
| Type | Open-source ledger platform | Cloud-native banking and card processing platform |
Each score with the evidence behind it.
| Criterion | Formance | Pismo |
|---|---|---|
| Product coverage | 3/5 Accounts, payments and multi-currency published; lending and cards not offered. | 4/5 Accounts, lending, cards and payments published; multi-currency not stated. |
| Published pricing | 3/5 Free open-source tier published; enterprise not priced. | 0/5 Not published. |
| Deployment choice | 4/5 Vendor-run in a named cloud and self-hosted; one cloud only. | 2/5 Cloud-native, no named cloud. |
| Integration | 3/5 SDKs, documentation and free self-serve access; no launch time. | 2/5 API reference only on the pages read. |
| Security and regulated clients | 4/5 ISO 27001:2022 and SOC 2 Type II; no named regulated clients. | 4/5 SOC 2 stated with named regulated banks; ISO 27001 not found. |
| Proven scale | 0/5 Not published. | 3/5 One figure: 46 million cards. |
Each criterion is scored 0 to 5 against the best published offer in the Core Banking and Ledgers Index. 0 means not offered or not published. How it is scored
What each provider publishes on its own pages, read on 26 October 2026.
| Fact | Formance | Pismo |
|---|---|---|
| Product coverage | "Double-entry, multi-currency" core ledger; Wallets module with "multi-currency balances, holds, expiring balances"; Flows module for multi-step transactions; pre-built connectors for Stripe, Adyen, Wise, Fireblocks and Kraken. | Credit, debit and prepaid cards for Visa, Mastercard and private labels; digital lending; corporate demand deposit accounts "in a multi-country, multi-region, and multi-branch structure"; digital wallets; merchant processing. |
| Pricing | Open Source: full ledger "under MIT License" with no fee. Enterprise: "Annual subscription, custom quote based on scale". | Not published on the pages read. |
| Deployment | Cloud: "Each cloud customer runs in a dedicated private region in a separate AWS account"; also "Private Cloud or Assisted Self-Hosted deployment". | "A truly cloud-native API platform"; no cloud provider named on the pages read. |
| Integration | CLI and SDKs; full source code access; documentation published; self-serve sign-up for the open-source version. | API reference and documentation linked from the homepage. |
| Security and clients | ISO 27001:2022; "SOC 2 Type II audit passed with zero exceptions across all 33 criteria". | "Pismo achieves SOC 2 compliance". Client quotes from Citi TTS, Itaú and BTG Pactual. |
| Scale | Not listed in this index | Client quote from Grow cites Pismo's expertise in "managing 46 million cards". |
| Date read | 26 October 2026 | 26 October 2026 |
Not published or not stated by Formance: security and regulated clients and proven scale.
Not published or not stated by Pismo: pricing, deployment, product coverage and security and regulated clients.
Facts read on 26 October 2026 from: formance.com, formance.com/pricing, formance.com/security; and pismo.io.
Awards follow from the published scores and cannot be bought.
No award in this index.
From each provider's strongest criteria and published terms.
Fintech and crypto firms wanting a ledger they can host themselves.
Banks and large firms combining cards, lending and accounts.
Tell us what you need and where you operate.