Cyclos offers a complete on-line banking system with additional modules
such as e-commerce and communication tools. Cyclos is currently
available in ten languages and used worldwide by many organizations and
communities. The Cyclos platform permits a de-centralization of banking
services that can stimulate local trade and development. With the latest
version it is possible to roll out mobile banking services using mobile channels such as SMS.
The objective of the project is to develop open source complementary
currency software that is easy to use and maintain, flexible, secure,
and highly customizable. The Cyclos structure is entirely dynamic. This
means that it is possible to 'build' a monetary system from scratch.
Organizations that want a standard system can use the default database
that comes with basic configurations and can be easily enhanced. Cyclos
is used for mutual credit systems like LETS, Barter systems,
administration of Micro credits or remittances, Time banks and backed
currency systems such as a C3 (consumer and commerce circuit). Cyclos
just started to be used as a back-end for mobile banking services in
Africa
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