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APIs · head to head

Formance vs Syft

Formance logo

Formance

APIs

Open source double-entry ledger and payment orchestration for money-moving software

From
Free
Rated
-
Full reviewWebsite
Syft logo

Syft

Cybersecurity

Generates a software bill of materials from images, filesystems and archives

From
Free
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: Formance formance holds no money and provides no regulatory cover, so it must be paired with a payments provider or bank, and buyers occasionally mistake a ledger for a treasury system and discover the gap late.; Syft lockfile parsing can drop packages silently. An open issue filed in August 2026 reports the yarn v1 cataloguer returning 118 of 745 packages with no error raised, which means a complete bill of materials and an 84 percent incomplete one look identical to the caller.
  • They diverge on capability: Formance covers Double-entry ledger, Syft covers Multi-format output.
  • Prices and features above were last checked on 31 August 2026.

Where they differ

Only the attributes on which Formance and Syft actually diverge.

Attributes where Formance and Syft differ
AttributeFormanceSyft
PlatformsLinux, Docker, Kubernetes, Web, APImacOS, Linux, Windows, Docker
CategoryAPIsCybersecurity

Identical on both: starting price (Free), pricing model (Open source, no licence fee), free tier (Yes), user rating (Not yet rated).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Formance

  • Double-entry ledger
  • Numscript transaction DSL
  • Multi-currency
  • Payments connectivity
  • Reconciliation
  • Self-hosted deployment
  • Cloud offering
  • API and SDKs

Only in Syft

  • Multi-format output
  • Broad ecosystem coverage
  • Binary classifiers
  • In-toto attestations
  • Library and CLI
  • Pairs with Grype

What people use each for

The jobs each tool is most often brought in to do.

Formance

  • A marketplace splitting a single customer payment between seller, platform fee and tax that needs the split to be atomic and auditablenot Syft
  • A fintech whose homegrown balances table produced numbers finance could not reconcile and now needs proper double-entry before an auditnot Syft
  • A payments team that wants one normalised model across several PSPs so reconciliation is not written separately for eachnot Syft
  • A company that wants its ledger under a licence it can keep running even if the vendor disappearsnot Syft

Syft

  • Producing a bill of materials for a customer or regulator that requires onenot Formance
  • Feeding an inventory into a vulnerability scanner rather than scanning images directlynot Formance
  • Recording what shipped in a build so a future disclosure can be answered quicklynot Formance
  • Public sector work where an SBOM is a contractual deliverablenot Formance

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Formance

  • Formance holds no money and provides no regulatory cover, so it must be paired with a payments provider or bank, and buyers occasionally mistake a ledger for a treasury system and discover the gap late.
  • Numscript is a domain-specific language your team must learn, and while it makes complex splits expressible it also means transaction logic sits outside the languages your engineers already debug well.
  • Self-hosting a ledger that must never lose or duplicate a transaction is a serious operational commitment covering backups, upgrades and Postgres tuning, which is real cost the zero licence fee hides.
  • Enterprise pricing is not published, so the difference between the free path and the supported path cannot be evaluated without a sales conversation.
  • The company is much smaller than the incumbent alternatives, and while the MIT licence protects the code it does not protect the roadmap, so features on the hosted side may arrive slowly or change direction.

Syft

  • Lockfile parsing can drop packages silently. An open issue filed in August 2026 reports the yarn v1 cataloguer returning 118 of 745 packages with no error raised, which means a complete bill of materials and an 84 percent incomplete one look identical to the caller.
  • Fidelity varies sharply by ecosystem. Conan for C and C++, Haskell and Terraform get cataloguer support with no licence data, no dependency relationships and no file ownership, so a C and C++ shop gets the least from it.
  • Binary classification yields no licence or dependency metadata, and vendored or statically linked code is exactly where supply chain risk hides, so the blind spot and the risk overlap.
  • Incorrect CPE values and CPE collisions are recorded as open issues, and since Grype matches on CPE and PURL, an inventory error becomes a false negative in the security report downstream.
  • An inventory is not a risk assessment. Even a perfect bill of materials says a vulnerable version is present, never that the vulnerable function is called, and the triage burden lands entirely on the reader.

Pricing, plan by plan

Formance

Free
  • Open SourceFree
    • MIT licensed core ledger
    • Numscript transaction DSL
    • Multi-currency tracking
  • Enterprise$undefined/year
    • Managed or private deployment
    • Payments connectivity and reconciliation
    • Support with response commitments

Syft

Free
  • SyftFree
    • Apache-2.0
    • No usage limits
    • Community support
  • Anchore Enterprise$undefined/year
    • Policy enforcement and reporting
    • Federal and commercial tiers
    • Pricing not published, quoted on request

Which should you pick?

Choose Formance if

  • You need double-entry ledger.
  • You want to start without paying.
  • You work on Linux, Docker, Kubernetes, Web, API.
  • You also want numscript transaction dsl.
Formance review

Choose Syft if

  • You need multi-format output.
  • You want to start without paying.
  • You work on macOS, Linux, Windows, Docker.
  • You also want broad ecosystem coverage.
Syft review

Questions people ask

Is Formance or Syft better?
Neither clearly leads. Formance starts at Free and Syft at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Formance or Syft?
Formance starts at Free and Syft at Free.
Does Formance or Syft run on more platforms?
Formance runs on Linux, Docker, Kubernetes, Web, API. Syft runs on macOS, Linux, Windows, Docker.
Can I use Formance for free?
Both have a free tier, so you can try either at no cost before committing.
What is Formance best used for?
Formance is most often used for a marketplace splitting a single customer payment between seller, platform fee and tax that needs the split to be atomic and auditable, a fintech whose homegrown balances table produced numbers finance could not reconcile and now needs proper double-entry before an audit, a payments team that wants one normalised model across several psps so reconciliation is not written separately for each, a company that wants its ledger under a licence it can keep running even if the vendor disappears. Of those, a marketplace splitting a single customer payment between seller, platform fee and tax that needs the split to be atomic and auditable and a fintech whose homegrown balances table produced numbers finance could not reconcile and now needs proper double-entry before an audit are not what Syft is typically brought in for.
What can Formance do that Syft cannot?
Formance covers Double-entry ledger, Numscript transaction DSL, Multi-currency, Payments connectivity. Syft covers Multi-format output, Broad ecosystem coverage, Binary classifiers, In-toto attestations.

Answered from the vendors’ own pages

Formance: Is Formance really open source?

Yes. The core ledger is MIT licensed with full source access and no deployment restrictions.

Syft: Does Syft find vulnerabilities?

No. It produces an inventory. Grype, from the same company, matches that inventory against vulnerability feeds. They are separate tools and the distinction is frequently lost.

Formance: Does Formance move money?

No. It records and orchestrates movements; the actual payments happen at a PSP or bank you connect.

Syft: Does anything in the Anchore stack do reachability analysis?

No. Neither Syft, Grype nor the commercial Anchore platform performs call graph or reachability analysis, so none of them tells you whether a vulnerable code path is actually invoked.

Formance: What does the enterprise version cost?

Not published. It is an annual subscription quoted per customer.

Syft: Is it a CNCF or OpenSSF project?

No. It is single-vendor open source owned by Anchore, with no foundation governance. That is a different licence risk profile from Sigstore.

Formance: Do I have to use Numscript?

Yes for anything beyond the simplest transfers. It is how multi-party transactions are expressed atomically.

Syft: What does Anchore Enterprise cost?

Not published. The pricing page is contact-sales only, with named but unpriced commercial and federal tiers.

Syft: How do I know my SBOM is complete?

You largely cannot, which is the honest answer. Silent partial parsing is a known open defect, so a bill of materials used for compliance should be spot-checked against a known dependency list.

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