Community Blog

The FINOS TechSprint is an extended collaborative effort that invites developers to explore cutting-edge financial solutions using open source tools. The primary focus of the sprint is TraderX, a highly modular, open source trading platform designed to serve as a reference architecture for integrating various FINOS projects. This hackathon-style event runs through September, culminating in demonstrations at the Open Source in Finance Forum (OSFF) New York​. Haven’t registered yet for OSFF NYC? Use the code OSFFNY24SOC to get 20% off your ticket and register here. 

It seems like only yesterday that I stumbled upon the FINOS booth at a conference. I don’t exactly recall which one—perhaps the Open Source Summit EU in Dublin—but what I do remember is meeting the incredibly friendly booth staff and noticing the impressive calibre of member organisations listed on the banner. Andy Martin, CEO of ControlPlane, was at the conference with me, and it took us less than 10 minutes to understand the importance of FINOS' role in the global FSI landscape and to decide to join the Foundation. 

Financial services firms are at a crossroads. The industry is facing unprecedented pressures, from growing customer expectations and fierce competition to stringent regulatory demands. Firms are also challenged to modernize legacy systems while keeping infrastructure costs in check. Staying competitive often means making bold moves—like transitioning to open source database software.

Financialservicesinstitutionsworldwidearefacingincreasinglystringentregulations,with added complexity for those operating in multiple regions.

Those operating in Europe will be keenly aware of DORA, the Digital Operational Resilience Act.Thisregulationemphasizesacomprehensiveapproachtomanagingcybersecurityrisks, especially those related to software supply chains.

As active contributors and members of FINOS, Sonatype has observed a rising energy in the communitytocreatevalueforitsmembersandconsumersofitsprojects—especiallyregarding security and compliance for regulations. To better understand the value being created by the community, let’s take a closer look at the complexities of recent regulatory changes.

Author: Aaron Linskens, Technical Writer, Sonatype

The Cloud Native Computing Foundation (CNCF) will be presenting ten talks during the Open Source in Finance Forum in New York on September 30 and October 1. The presentations will drill down on the intersection of cloud native and finance, and will be ideal for enterprise audiences. 

Here’s a quick overview of what to expect from the CNCF track at the conference.

The Linux Foundation's Open Source Security Foundation (OpenSSF) Secure Software Development Education 2024 Survey offers crucial insights that are particularly relevant to the financial services industry, including FINOS members such as sell-side banks, buy-side firms, and wealth managers. As these organizations increasingly rely on software to drive operations, the emphasis on secure software development becomes critical.

The report highlights areas where organizations from all industries, including financial institutions, can enhance their security practices to protect sensitive data, manage risk, prevent substantial financial losses, and maintain client trust.