midaz

Lerian Midaz: Enterprise-Grade Open-Source Ledger System

Lerian Midaz is a modern, open-source ledger system designed for building financial infrastructure that can scale from fintech startups to enterprise banking solutions. With a robust and flexible architecture, Midaz empowers developers to create sophisticated financial applications that can handle complex transactional requirements.

Why Midaz?

• Enterprise-Ready: Built with the reliability, scalability, and security needed for mission-critical financial systems
• Developer-Friendly: Clean architecture and comprehensive API documentation for rapid integration and development
• Future-Proof Design: Multi-asset and multi-currency support to handle both traditional and digital assets in a single system
• Community-Backed: Growing open-source community with commercial support options available from Lerian

Core Banking

At Lerian, we view a core banking system as a comprehensive platform consisting of four main components:

1. Ledger: The central database that manages all transactions and accounts. This is where Midaz plays a crucial role, serving as the foundation of the core banking system. We implemented our ledger with two main services:

   • Onboarding Service: Manages organizations, ledgers, assets, portfolios, segments, and accounts.
   • Transaction Service: Handles complex n:n transactions with double-entry accounting.

2. Transactional Messaging Integrations: These are responsible for integrating with external systems to generate debits and credits in the ledger. Examples include instant payments (like PIX in Brazil), card transactions, and wire transfers.

3. Governance Integrations: These are responsible for enhancing the core banking capabilities with KYC, anti-fraud/AML measures, management reporting, regulatory compliance, and accounting reporting.

Our open-source approach allows for the integration of Midaz with other components, like transactional messaging and governance, creating a complete core banking solution tailored to your specific needs. We also provide a marketplace with different plugins that streamline the integration of these messaging systems and governance players. These plugins are built by both Lerian and the community/partners.

If you are interested in contributing to the development of these plugins or have any questions, please feel free to reach out to us in the Discussions tab or at contact@lerian.studio.

We will also provide soon a list of potential new plugins that could be built, to help you get started. More to come!

Core Architecture

Lerian Midaz is built as a modern, cloud-native platform with a modular microservices architecture:

Domains

Lerian Midaz implements a comprehensive financial hierarchy:

• Organizations: Top-level entities, optionally with parent-child relationships
• Ledgers: Financial record-keeping systems belonging to organizations
• Assets: Different types of value (currencies, securities, etc.) with specific codes
• Portfolios: Collections of accounts for organizational purposes
• Segments: Categories for grouping accounts (e.g., by department, product line)
• Accounts: Basic units for tracking financial resources, linked to assets with specific types
• Transactions: Financial transactions with debits and credits
• Balances: Account balance tracking with available funds management and transaction capabilities

Services

1. Onboarding Service: Core entity management system.

   • Implements hexagonal architecture with CQRS pattern
   • RESTful API with OpenAPI documentation
   • PostgreSQL for primary data, MongoDB for flexible metadata
   • Manages the full financial hierarchy from organizations to accounts

2. Transaction Service: Financial transaction processing system.

   • Handles complex n:n transactions with double-entry accounting
   • Supports multiple transaction creation methods (JSON, DSL, templates)
   • Asset rate management and balance tracking with optimistic concurrency
   • Event-driven architecture using RabbitMQ for transaction lifecycle

3. Infrastructure Layer: Containerized infrastructure services.

   • PostgreSQL with primary-replica setup for high availability
   • MongoDB replica set for metadata storage
   • RabbitMQ for message queuing with predefined exchanges
   • Valkey for caching and message passing
   • Grafana/OpenTelemetry for comprehensive monitoring

Transaction Processing

Lerian Midaz implements true double-entry accounting with sophisticated transaction capabilities:

• Double-Entry Engine: Every credit has a corresponding debit, ensuring financial integrity
• Multi-Asset Support: Handle transactions across different currencies with automatic rate conversion
• Complex Transactions: Support for n:n operations (multiple sources to multiple destinations)
• Domain-Specific Language: Proprietary DSL for modeling complex transactions
• Immutable Records: Every transaction is permanently recorded for audit purposes
• Async Processing: Event-driven architecture for scalable transaction handling
• Balance Management: Sophisticated balance tracking with available and on-hold amounts

Technical Highlights

• Hexagonal Architecture: Clear separation between domain logic and external dependencies
• CQRS Pattern: Separate command and query responsibilities for optimized performance
• Event-Driven Design: Asynchronous processing using message queues for scalability
• Domain-Specific Language: Specialized grammar for defining complex transactions
• Optimistic Concurrency: Version-based concurrency control for balance updates
• Comprehensive APIs: RESTful endpoints with OpenAPI documentation
• Testing: Extensive unit and integration tests with mocking support

Getting Started

To start using Lerian Midaz, please follow our Getting Started Guide. For comprehensive documentation on Midaz features, API references, and best practices, visit our Official Documentation.

Community & Support

• Join our Discord community for discussions, support, and updates.
• For bug reports and feature requests, please use our GitHub Issues.
• If you want to raise anything to the attention of the community, open a Discussion in our GitHub.
• Follow us on Twitter for the latest news and announcements.

Repo Activity

Contributing & License

We welcome contributions from the community! Please read our Contributing Guidelines to get started. Lerian Midaz is released under the Apache License 2.0. See LICENSE for more information. In a nutshell, this means you can use, modify, and distribute Midaz as you see fit, as long as you include the original copyright and license notice.

About Lerian

Midaz is developed by Lerian, a tech company founded in 2024, led by a team with a track record in developing ledger and core banking solutions. For any inquiries or support, please reach out to us at contact@lerian.studio or simply open a Discussion in our GitHub repository.