Provider profile · 2026 edition
Formance review 2026: scores, pricing and alternatives.
An open-source, double-entry ledger with wallets, payment flows and reconciliation modules in its enterprise tier.
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An open-source, double-entry ledger with wallets, payment flows and reconciliation modules in its enterprise tier.
Formance scores 3.0 out of 5 (59 out of 100) in the Buckingham Intelligence Core Banking and Ledgers Index 2026 and ranks 3 of 12. It is strongest for fintech and crypto firms wanting a ledger they can host themselves, and its best criterion is deployment choice at 4 out of 5. Not published or not stated on the pages read: security and regulated clients and proven scale.
Scores from the Core Banking and Ledgers Index 2026.
| Segment | Score out of 100 | Rank |
|---|---|---|
| For banks and building societies | 59 | 3 of 12 |
| For E-money and payment firms | 60 | 2 of 12 |
| For fintechs building their own products | 59 | 3 of 12 |
The score out of 5 is the overall score out of 100 divided by 20. Leader goes to the top three overall, Best for to the first in each segment, and Top rated for to a score of 5 out of 5 on a criterion. Awards cannot be bought.
Where it scores best, and where to check closely, as shown in each ranking.
Fintech and crypto firms wanting a ledger they can host themselves.
What Formance publishes on its own pages, read on 26 October 2026.
An open-source, double-entry ledger with wallets, payment flows and reconciliation modules in its enterprise tier. It publishes ISO 27001:2022 and SOC 2 Type II, a free open-source version, and hosting in a dedicated cloud account or on the client's own servers. Enterprise prices are quoted only.
| Fact | What the provider publishes |
|---|---|
| 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. |
| Pricing | Open Source: full ledger "under MIT License" with no fee. Enterprise: "Annual subscription, custom quote based on scale". |
| Deployment | Cloud: "Each cloud customer runs in a dedicated private region in a separate AWS account"; also "Private Cloud or Assisted Self-Hosted deployment". |
| Integration | CLI and SDKs; full source code access; documentation published; self-serve sign-up for the open-source version. |
| Security and clients | ISO 27001:2022; "SOC 2 Type II audit passed with zero exceptions across all 33 criteria". |
| Date read | 26 October 2026 |
A fact that is not published is scored as not offered or, for a fee, as if it were high. It is never estimated.
Facts read on 26 October 2026 from: formance.com, formance.com/pricing, formance.com/security.
Each score with the evidence behind it.
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
The other providers in the same ranking, ordered by score.
| Provider | Score out of 5 | Rank | Strongest for |
|---|---|---|---|
| Thought Machine | 3.5 | 1 of 12 | Large banks replacing a legacy core on the cloud of their choice |
| SDK.finance | 3.0 | 2 of 12 | E-money firms and fintechs wanting a published price |
| 10x Banking | 2.6 | 4 of 12 | Banks that need published throughput and uptime figures |
| Pismo | 2.5 | 5 of 12 | Banks and large firms combining cards, lending and accounts |
| Modern Treasury | 2.5 | 6 of 12 | US fintechs wanting a ledger joined to payment rails |
| Mambu | 2.5 | 7 of 12 | Lenders and deposit-takers wanting audited SaaS |
| Temenos | 2.5 | 8 of 12 | Banks in many countries wanting packaged software or SaaS |
| Tuum | 2.3 | 9 of 12 | Banks wanting cloud or on-premise deployment with a stated launch time |
| Zeta | 2.0 | 10 of 12 | Banks launching card programmes |
| Finxact | 2.0 | 11 of 12 | US banks wanting an API-first core with a sandbox |
| Episode Six | 1.3 | 12 of 12 | Issuers wanting one ledger for cards, credit and deposits |
Side by side on every criterion, fact and award.
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