FINOS and the Accenture team are excited to announce that TRAC D.A.P. has been successfully contributed to the Open Source Community and is now available as a FINOS hosted project at https://github.com/finos/tracdap.
“TRAC provides a solution to the problems that many financial organizations face today. When confronted with retiring their legacy infrastructure and moving to a modern cloud paradigm, then what happens? How can they avoid migrating the processes and procedures they have today, with all the associated problems? How do they achieve regulatory compliance and at the same time move towards a truly agile and automated business?
TRAC is unique in its approach to answering these questions, what’s more it’s free and open source - so the cost of adoption is low.” - Greg Wiltshire, Risk Modeller, Accenture.
TRAC is a next-generation data and analytics platform for use in highly regulated environments. Most financial institutions have similar pain-points in Risk and Finance - fragmented data architectures, high cost of change, lack of model insight, poor traceability and difficulty reproducing results to name a few. TRAC solves these problems by re-drawing the boundary between business and technology, to bring a step change in power, flexibility and control.
"TRAC is addressing some of the most complex and in-TRACtable problems in Financial Services regulation compliance with its ability to maintain correlation between code and data versions. Today, it is a necessity for every bank. We are very thankful to Accenture for opening it to the community and look forward to its adoption and expansion of functionality within the industry". - Jane Gavronsky, CTO, FINOS
The most current open-source release is version 0.4.1, which contains the core components needed to build an end-to-end workflow. The following resources are available for download:
Documentation: https://tracdap.finos.org/
Model runtime package: https://pypi.org/project/tracdap-runtime/
Web API package: https://www.npmjs.com/package/@finos/tracdap-web-api
We are also preparing demo sessions to showcase TRAC to FINOS members which will be included in “This Week at FINOS’ email and the Community Calendar once dates are confirmed.
To get in touch with the TRAC project team and for more information on how to start contributing, visit here: https://github.com/finos/tracdap/blob/main/CONTRIBUTING.md
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