FINOS hopes a survey will help financial services firms better understand the open source software movement.
Grygo is the chief content officer for FTF & FTF News.
Financial services firms are using a lot of open source software but there may be a gap in their understanding of how to manage the “opportunities and potential challenges” of the open source movement, according to the Fintech Open Source Foundation, also known as FINOS.
FINOS is an independent, nonprofit organization whose mission is to speed up collaboration and innovation in financial services by way of “open source software, standards, and best practices,” according to its website.
“The financial services industry has been a long-time consumer of open source software; however, many are struggling in contributing to, and publishing, open source software and standards, and adopting open source methodologies. A lack of understanding of how to build and deploy efficient tooling and governance models are often seen as a limiting factor,” according to FINOS.
FINOS is doing something about it.
In conjunction with its research partners, Linux Foundation Research, Scott Logic, Wipro, and GitHub, FINOS officials have launched a survey that will help them “assess the opportunities and potential challenges of consuming, contributing to, publishing, and governing open source in the financial services sector,” according to FINOS. “The target audience for this survey is developers, IT leaders, executive management, security, legal, procurement, and HR.”
The survey and subsequent report will explore open source “within the context of financial services organizations; including banks, asset managers, and hedge funds but will be designed as a resource to be used by all financial services organizations, with the goal to make this an annual survey with a year-on-year tracing of metrics,” FINOS says.
Data from the survey, dubbed “FINOS State of Open Source in Financial Services,” will help the organization “provide detailed insights to its members and the broader financial services ecosystem, focusing on how they can effectively and efficiently advance their use of open source to realize the benefits while mitigating potential risks.”
FINOS officials say that completing the survey “will help you discover how mature your organization is when it comes to open source software. The results will also help you identify areas of strength, as well as areas that require additional focus. This survey should take no more than 15 minutes of your time.” FINOS is encouraging industry participants to take the survey now.
“We intend to close the survey in early July. Privacy and confidentiality are important to us. Neither participant names, nor their company names, will be published in the final results,” according to FINOS.
Jane Gavronsky
In addition, please take a moment and watch our FTF News Live chat with Jane Gavronsky who talks about her new role as the first chief technology officer (CTO) for FINOS. Some of the key concerns of middle and back-office operations such as data modeling, regulatory compliance, and interoperability are being tackled by FINOS. “That’s a common thread and certainly touches the back office,” Gavronsky says. (The interview was recorded on June 10 and was archived for free viewing later.) Gavronsky most recently served as managing director and global head of reference data technology services at Credit Suisse. While there, she helped drive enterprise-wide transformation initiatives and revamped the global operating model of the bank’s technology organization.
So, please click to take the FINOS survey here: https://www.research.net/r/NS8XV6W
And then please watch the FTF News Live interview with Gavronsky here: https://bit.ly/3g8yXRj or here: https://bit.ly/35g3iag
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