OSinFinance 101 Open Source Benefits for the Financial Services Industry – Grizz Grizwold 11 August 2022
This article gives a high-level view of the advantages of open source for stakeholders in financial services institutions, as well as the ecosystem that supports them. Why use and contribute to open source in finance? Open source's power is found in leveraging a collaborative development as well as the security and quality of code, with more eyeballs on the code. Banks and fintechs can lower costs of development, speed up time to market, and reduce vendor lock-in.
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Open Source Maturity Model Launch – James McLeod 7 December 2022
Click to read about the Open Source Maturity Model launch
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Announcing the FINOS FDC3 Application Directory (Beta) – Rob Moffatt 6 December 2022
Click to read about the FINOS FDC3 Application Directory (Beta)
Project Updates: Financial Objects – Product Control Common Template – FINIOS TEAM 17 November
There is a lot happening within our SIGs and Projects, and we want to highlight some, including Financial Objects.The FINOS Financial Objects SIG (Special Interest Group) is a community-led forum to discuss and identify the need for new, open financial object standards as well as modifications to existing standards, and The goal of the Financial Objects SIG is to provide a neutral forum for individuals across the financial services industry to collectively identify the need for new, open, financial objects standards as well as modifications to existing ones. The Financial Objects SIG also aims to promote the adoption of financial object definitions and models that support common industry workflows and use cases.In January 2021, The FO SIG proposed and launched two projects: the Commodities Payout and the Product Control Common Template. It became evident that after the launch of the two working streams, there were overarching, common elements to these work streams (modeling financial objects, using Legend & the FINOS hosted Legend Studio instance, and leveraging the ISDA CDM); every workstream has specific requirements that warrant separate governance structures.
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Ushering a New Era of Industry-wide Data Standardization (Announcing the Legend + Delta Lake Integration) – Gabriele Columbro 9 November 2022
Today, we are thrilled to unveil an exciting new contribution to the Legend ecosystem by FINOS Silver Member Databricks, a leading data and analytics platform with deep roots in open source and standards: Legend Delta is a fully open source integration between Legend and Delta Lake, the open source platform for building data lakehouses also hosted under the Linux Foundation.
Introducing FINOS Security Scanning – Maurizio Pillitu 24 October 2022
Click image to read - We’re very excited to present FINOS Security Scanning - a FINOS initiative for driving security best practices across our hosted projects. This helps FINOS project maintainers quickly enable continuous scanning on their hosted codebase, as an additional tool of security options.
Open Source Summit Europe 2022 Recap
The Linux Foundation Open Source Summit Europe took place in Dublin on September 13-16.The conference brought together open source developers, technologists, and community leaders to collaborate, share information, solve problems, and gain knowledge, furthering open source innovation and ensuring a sustainable open source ecosystem.We were proud to sponsor the event while having a booth onsite, along with many others including FINOS members, Ericsson, Mend, RedHat and more. Thanks to everyone who stopped by to chat with us.
Project Updates: FDC3 – Rob Moffat 9 September 2022
One of the top most active projects within FINOS right now is FDC3! Read Rob's blog and check out FDC3 under Projects & SIGs.
FINOS Open Source Readiness – James McLeod 26 August 2022
The FINOS Open Source Readiness SIG’s (Special Interest Group) main mission is to engage with financial institutions and help them address challenges encountered when venturing into the world of open source consumption and collaboration, often to accelerate technology innovation and efficiency.
Morgan Stanley, Microsoft & Regnosys Break New Ground in Regtech with FINOS – Leo Labeis, Stephen Goldbaum, Mark Marron 28 June 2022
In the first quarter of 2022, a multi-organisation, multi-location team of developers planned, scheduled and delivered an ambitious three day “RegTech” collaboration challenge.The event, dubbed a “TechSprint”, looked to demonstrate how financial institutions could comply with trade reporting rules for the upcoming US CFTC requirements using entirely open-source components.
Promoting Open Source Collaboration – Niamh Parker 22 June 2022
From our recent State of Open Source in Financial Services report, it indicates that financial organizations should engage in collaborative activities across various types of job functions to reap the benefits of open source.
Enabling Open Source Projects with Impactful Engineering Experience – James McLeod 21 June 2022
I often talk about “engineering experience” and the importance for open source projects to provide fast, easy and impactful ways for open source consumers to realise return on engagement.Just like e-commerce stores that invest in user experience to encourage repeat sales, successful open source projects provide a slick installation, well written contextual documentation and a very compelling engagement model that encourages collaboration.
Suggested Content
Click to read about the Open Source Maturity Model launch
Click to read about the FINOS FDC3 Application Directory (Beta)
There is a lot happening within our SIGs and Projects, and we want to highlight some, including Financial Objects.The FINOS Financial Objects SIG (Special Interest Group) is a community-led forum to discuss and identify the need for new, open financial object standards as well as modifications to existing standards, and The goal of the Financial Objects SIG is to provide a neutral forum for individuals across the financial services industry to collectively identify the need for new, open, financial objects standards as well as modifications to existing ones. The Financial Objects SIG also aims to promote the adoption of financial object definitions and models that support common industry workflows and use cases.In January 2021, The FO SIG proposed and launched two projects: the Commodities Payout and the Product Control Common Template. It became evident that after the launch of the two working streams, there were overarching, common elements to these work streams (modeling financial objects, using Legend & the FINOS hosted Legend Studio instance, and leveraging the ISDA CDM); every workstream has specific requirements that warrant separate governance structures.
Today, we are thrilled to unveil an exciting new contribution to the Legend ecosystem by FINOS Silver Member Databricks, a leading data and analytics platform with deep roots in open source and standards: Legend Delta is a fully open source integration between Legend and Delta Lake, the open source platform for building data lakehouses also hosted under the Linux Foundation.
Click image to read - We’re very excited to present FINOS Security Scanning - a FINOS initiative for driving security best practices across our hosted projects. This helps FINOS project maintainers quickly enable continuous scanning on their hosted codebase, as an additional tool of security options.
The Linux Foundation Open Source Summit Europe took place in Dublin on September 13-16.The conference brought together open source developers, technologists, and community leaders to collaborate, share information, solve problems, and gain knowledge, furthering open source innovation and ensuring a sustainable open source ecosystem.We were proud to sponsor the event while having a booth onsite, along with many others including FINOS members, Ericsson, Mend, RedHat and more. Thanks to everyone who stopped by to chat with us.
One of the top most active projects within FINOS right now is FDC3! Read Rob's blog and check out FDC3 under Projects & SIGs.
The FINOS Open Source Readiness SIG’s (Special Interest Group) main mission is to engage with financial institutions and help them address challenges encountered when venturing into the world of open source consumption and collaboration, often to accelerate technology innovation and efficiency.
In the first quarter of 2022, a multi-organisation, multi-location team of developers planned, scheduled and delivered an ambitious three day “RegTech” collaboration challenge.The event, dubbed a “TechSprint”, looked to demonstrate how financial institutions could comply with trade reporting rules for the upcoming US CFTC requirements using entirely open-source components.
From our recent State of Open Source in Financial Services report, it indicates that financial organizations should engage in collaborative activities across various types of job functions to reap the benefits of open source.
I often talk about “engineering experience” and the importance for open source projects to provide fast, easy and impactful ways for open source consumers to realise return on engagement.Just like e-commerce stores that invest in user experience to encourage repeat sales, successful open source projects provide a slick installation, well written contextual documentation and a very compelling engagement model that encourages collaboration.