A greater level of desktop application interoperability between buy- and sell-side firms may be coming as BlackRock and Morgan Stanley embraced an open source standard overseen by the Fintech Open Source Foundation (FINOS), which held its annual Open Source in Finance Forum in New York City (OSFF NY) last week. The standard known as FDC3… Read More >>
FINOS Enlists Industry in A.I. Governance Framework Launch
The Fintech Open Source Foundation (FINOS) is calling “groundbreaking” its first draft of the “A.I. Governance Framework” for financial institutions, a vendor-agnostic document that focuses on 15 risks and 15 controls tailored for artificial intelligence systems that use Large Language Models (LLMs). LLMs are computational models “capable of language generation or other natural language processing… Read More >>
Open Source Helps Wall Street Innovate Faster
(Gabriele Columbro, executive director for the Fintech Open Source Foundation (FINOS), spoke to FTF News about a variety of subjects during the Open Source in Finance Forum (OSFF) sponsored by FINOS and held in New York City last week. Columbro focused on the Common Cloud Controls (CCC) effort to formulate consistent controls for cloud computing… Read More >>
Open Source Projects Hit Their Stride on Wall Street
The open source movement for financial services firms on Wall Street and beyond is hitting its stride, says the Fintech Open Source Foundation (FINOS), which reports there is widespread adoption of open source software, standards, and best practices. And more open source projects are going into production, FINOS says. For instance, Morgan Stanley and Wellington… Read More >>
Does FINOS Have a Cloud Blueprint for Regulators?
Should global regulators create regulations based on a relatively new set of open-source standards that provide consistent controls over cybersecurity and compliance for cloud deployments in the financial services sector? The answer is in the affirmative for a panel of industry representatives who took part in the Open Source in Finance Forum (OSFF) of the… Read More >>
Morgan Stanley White Labels BNY Platform & Other News
MSIM to White Label BNY’s LiquidityDirect Custodian BNY Mellon reports that Morgan Stanley Investment Management (MSIM) is the first white-label client of BNY’s LiquidityDirect, a liquidity management solution that combines technology, connectivity, and client service, officials say. Financial services firms can offer short-term investments by using LiquidityDirect’s technology and services “through a single sign-on for their… Read More >>
Common Cloud Controls Will Expand Capabilities: FINOS
(The Fintech Open Source Foundation (FINOS) and financial services giant Citi recently announced that they launched an open standard project that will formulate consistent controls for cloud computing cybersecurity, resiliency, and compliance that cloud service providers (CSPs) can use as the basis for a common set of services. The “Common Cloud Controls (CCC)” effort is… Read More >>
Citi & FINOS Push for ‘Common Cloud Controls’
Financial services giant Citi and the Fintech Open Source Foundation (FINOS) are launching an open standard project that will formulate “consistent controls” for cloud computing cybersecurity, resiliency, and compliance that cloud service providers (CSPs) can use as the basis for a common set of services. The “Common Cloud Controls (CCC)” push is intended to bring… Read More >>
FINOS Adds Seven Members to Boost Initiatives
A major force behind the open source movement for financial services is bolstering its initiatives with seven new members from the realms of regulatory technology, data quality management, and distributed ledger technology (DLT)/blockchains. The nonprofit Fintech Open Source Foundation, also known as FINOS, reports that it is adding REGnosys, Blockchain Technology Partners (BTP), ControlPlane, Luxoft,… Read More >>
Should Buy-Side IT Teams Embrace Open Source?
(FTF News recently reached out to Madeleine Dassule, partner and co-head, technology, at Wellington Management. Dassule has joined the Fintech Open Source Foundation (FINOS) board of directors, a move that coincided with Wellington joining the nonprofit organization. FINOS is a proponent of open source technology, open standards, and collaborative efforts among software development groups in… Read More >>
