This week, Linux Foundation Charities launched a “groundbreaking open-source software solution for real-time fraud prevention” called Tazama “with support from the Bill & Melinda Gates Foundation.”
They call it “the first-ever open source platform dedicated to strengthening fraud management in digital payments.”
Until now, the financial industry has been working on proprietary and often expensive solutions that have limited access and adaptability for many people, especially in developing countries.
This challenge is highlighted by the Global Anti-Scam Alliance, which reported that nearly $1 trillion was lost to online fraud in 2022. Tazama challenges this status quo by providing a powerful, scalable, and cost-effective alternative that democratizes access to advanced financial oversight. The solution's architecture emphasizes data sovereignty, privacy, and transparency, and is aligned with the priorities of governments around the world. His Tazama, hosted by LF Charities, which supports the project's operations and functionality, will showcase the scalability and robustness of open source solutions, especially in critical infrastructure such as domestic payment switches.
Jim Zemlin, executive director of the Linux Foundation, echoed their response: “We want to not only strengthen our financial security, but also create a platform for our community to actively contribute to projects that impact broader society. We're excited to see the open source solutions we offer.”
The announcement also included comments from the Bill & Melinda Gates Foundation's deputy director of payment systems. “This pioneering open source platform helps address critical challenges such as fraud detection and compliance, creating an innovative and inclusive financial system that serves everyone, especially those in low-income countries. Pave the way to solutions.
“The launch of Tazama marks another step towards the security and democratization of digital financial services.”
