The Social Trade Organisation is releasing the world’s first professional free, open source, on-line banking software – Cyclos 3.7.1. Cyclos enables communities and regions to create their own currency alongside the national currency and is used by more than one hundred organisations around the world to help stimulate growth (view press release).

Cyclos offers a complete on-line banking platform with additional community modules such as an e-commerce platform, a card module and a messaging and notification system. The Cyclos project started in 2003 and was created by the Social Trade Organisation which has been working for two decades on a broad range of instruments and approaches that can support private or public initiatives to make money work even in conditions of a semi-permanent economic depression.

The main features of the Cyclos software include online banking, SMS banking, IVR banking and cards and POS modules, which create opportunities to address new sectors, such as remittances, consumer loyalty programs, mobile shops, cash-in cash-out services, taxi payments, campus payment systems, prepaid cards, and low cost ATM's.

Cyclos has become the standard for open source 'home-banking' software and presented at the recent Cartes 2012 event in Paris which is the world’s leading Security, Payment, Identification and Mobility technology event.