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This week American Banker dove into the backing, adoption and explanation of FDC3 (Financial Desktop Connectivity and Collaboration Consortium) by 50 banks and vendors - a majority of them platinum, gold and silver members of FINOS.
April and May have been busy months as new programs have been approved and FDC3 officially launched.
It's been over two weeks since the launch of FINOS at the Nasdaq MarketSite on April 24th. The feedback from the community has been overwhelmingly positive and we've received great press coverage from a wide variety of outlets and influencers.
FINOS was featured yesterday in a Tearsheet article by Tanaya Macheel about last week's launch in New York City and the impetus for open source collaboration in Financial Services. Wrote Macheel:
As a firm believer in the power of open innovation, I am thrilled to announce the launch of the Fintech Open Source Foundation (FINOS). This newly broadened, non-profit organization is a product of the growing passion for Open Source software development in finance—and our aim to create better outcomes through a vibrant community of like-minded professionals.
Adam Toms, European CEO of FINOS Gold Member OpenFin was featured in "The Trade". In an interview that spanned a range of pressing fintech topics, Toms discussed in depth the Financial Desktop Connectivity and Collaboration Consortium, a FINOS program, and the standards it produces as bringing "application interoperability onto a trader’s desktop on the buy-side, or onto a portfolio manager’s or operation manager’s desktop."
Last month, we at the Symphony Software Foundation, were proud to host the Open Source Strategy Forum in New York City. We were joined by over 300 industry professionals from financial services, financial technology, open source, and beyond. With keynotes delivered by whurley (Goldman Sachs), Amber Baldet (J.P. Morgan), John Stecher (Barclays), Nithya Ruff (Comcast), Joe McCann (NodeSource), Jim Jagielski (CapitalOne), and others, complete with 30+ talks, it was an incredibly valuable day of content and networking. But most importantly we built the identity of a new Community, one that will drive open innovation in the industry. Thanks to all of you who joined us there.
In June 2017, the Symphony LLC platform engineering team published the OpenAPI specifications for the Symphony REST APIs as an open source project hosted by the Symphony Software Foundation. We think this represents a substantial improvement in how the platform’s APIs are documented, delivered, and consumed by users of these APIs.
As the momentum continues building in our community, we are proud to announce three new major contributions to the Symphony Software Foundation.
While open source has gradually become central to the business models of even the most reluctant firms in the software industry, software development in financial services remains uniquely siloed. For all of their technical sophistication and business savvy, few firms are ready to make the jump from consuming open source to contributing to an open source project.
