A recent article in Tearsheet by Zoe Murphy breaks down some of the main points of why FINOS has decided to join the Linux Foundation as an LF organization. FINOS Chair Alejandra Villagra of Citigroup, Dov Katz, FINOS Vice Chair of Morgan Stanley, Chris Wright, CTO of Red Hat, Jim Zemlin, ED of The Linux Foundation, and FINOS ED, Gabriele Columbro were all quoted.
Here is an excerpt from that article:
The full article can be found here“Open source technology is essential to the future of the financial services industry,” said Alejandra Villagra, FINOS chairperson, Citigroup.
Open source encourages standards setting and pooling of resources to address audacious problems in finance. “Over the last few years, FINOS successfully created a community of buy-side, sell-side, fintech and tech companies who work together on a wide range of open source projects and standards, “ said Dov Katz, FINOS vice chairperson and distinguished engineer at Morgan Stanley.
“Joining the Linux Foundation will extend our pool of partners, talented developers and engineers dedicated to solving similar problems, and will help the community innovate even faster,” he said.
It is increasingly important for firms to look at enterprise open source and its ability to foster innovation while maintaining stability,” said Chris Wright, senior vice president and chief technology officer, Red Hat. “As active members of the Linux Foundation we see the immense potential this collaboration has to benefit the financial services industry as they adapt to an evolving technology landscape”