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WRAPPING UP A YEAR OF GROWTH
In this issue of the FINOS newsletter we highlight key activities from the last quarter including project announcements, new members joining, great events and informative reports. It’s been an exciting year of growth with 7 new members joining, an increase of over 100% in community participants and 5 new projects contributed to the Foundation. We hope you’ll stay involved (or get involved) as we do even more to accelerate open source development in financial services in 2020. Read on to learn more
PROJECT UPDATES
Goldman Sachs announced that they are contributing a logical modeling language, internally named “PURE”, along with a platform and visual model tool that generates PURE-based models, known within Goldman as “Alloy”. The open sourcing is occurring in iterative phases and we're in the process of preparing for a pilot involving several banks and other financial institutions to begin in Q1. More info: https://www.finos.org/pure-alloy
ScottLogic contributed OpenFin React Hooks to the Hadouken project. This open source library provides OpenFin functionality via the recently released React Hooks API, making it much easier to implement applications with snapping, docking, inter-app communication and a whole host of other features. Raise issues (or feature requests) via GitHub - and code contributions are, of course, most welcome. More info: https://github.com/finos/openfin-react-hooks
Scott Logic launched a significant new release (v2.0) of the DataHelix Generator with lots of great new features. These include a large catalogue of new data types; an interactive online playground so you can try out the generator without downloading/installing it; and a new “getting started” guide. WhiteSource checks have also been recently integrated through the ongoing work in the ODP. More info: https://finos.github.io/datahelix/.
MEMBER & COMMUNITY HIGHLIGHTS
New FINOS Members
We are very excited to welcome three new FINOS members.
EPAM joined in October and is a leading global provider of digital platform engineering and software development services. They have extensive experience in financial services and are a top open source contributor. Read why they think (and we wholeheartedly agree) open source software is critical to the future of financial services.
NearForm joined in November and are highly-regarded leaders in the open source community, building enterprise solutions and contributing to open source sustainability. They are currently one of the largest contributors to Node.js, the world's fastest growing open source project. They are also strong proponents of InnerSource, which you can hear more about in this recent podcast.
CloudBees joined in December and provides continuous delivery software services enabling enterprise software delivery teams to focus on what they do best: build stuff that matters. With open source “in their DNA” and a passion to revolutionize how technologists work we’re excited to have them onboard.
WHITESOURCE & FINOS WEBINAR
In this webinar, “Empowering Financial Institutions to use Open Source with Confidence”, Jeff Crum, Senior Director of Product Marketing at WhiteSource and James McLeod, Director of Community at FINOS, discuss how to address some of the challenges the financial services industry faces when using open source software. Watch the webinar to learn about the state of open source vulnerabilities management and how FINOS uses WhiteSource to ensure the security and IP compliance of FINOS-produced open source software.
FINOS news and updates
New FINOS BOARD DIRECTOR
Join us in welcoming our new FINOS board member David Jones, Head of DevOps, Open Source and Development Practices at Credit Suisse. See all of FINOS Board Directors on our website.
New FINOS DIRECTOR OF COMMUNITY
We recently welcomed James McLeod to the team as the new FINOS Director of Community supporting the growth of our foundation and community. If you haven’t already spoken to him please feel free to reach out at james@finos.org. You can also learn more about James here.
Spreading the Word
Open Source Strategy Forum NY 2019
At this year’s OSSF we brought together 450 individuals at the cross section of finance, open source, and technology to share thoughts, knowledge, and insights on the direction of open source and open standards in financial services. With representatives from nearly 150 companies (almost half representing financial services institutions) we think it’s clear that the financial services industry is embracing all that open source has to offer. Check out the recap to learn more and access presentations and photos from the conference.
REPORT: Technology Trends in Capital Markets: From Secret Sauce to Open Source
This report highlights the adoption of open-source software among capital markets participants, including drivers and challenges to adoption, the level of consumption and contribution at firms ahead of the curve, and how these firms are measuring progress and engaging with the community. The survey, produced by Aite Group, identifies several areas where financial firms can accelerate open source engagement, and in some cases, drive profound change within organizations. Download the survey here.
REPORT: Is the Future of FinServ Open Source?
FinTECHTalents, along with their partner, GitHub, gathered a snapshot of viewpoints from senior leaders in the industry to look at whether Open Source is the Future for Financial Services. They asked senior leaders a series of questions around adoption (or lack of adoption), open source evangelism, the types of projects that work well in an open source environment and more. Find out how NatWest Markets, HSBC, OCBC Bank, Santander UK, Finastra, FINOS and GitHub answered these questions by downloading the Vox Pop report here.
VIDEO: The Rise Of Open Source Software
Check out this CNBC video highlighting the pervasiveness of open source software in the world's major companies. “This software is freely available, and is developed collaboratively, maintained by a broad network that includes everyone from unpaid volunteers to employees at competing tech companies. So how did a business model that essentially revolves around giving away information and products take over the world?”
FINOS in the news
CNBC: Goldman Sachs is Planning on Giving Some if its Most Valuable Software to Wall Street for Free
Goldman Sachs Open Sources Data Modeling
Goldman Sachs to Make Modeling Software ‘Alloy’ Open Source
Open Source Project of the Week: Perspective
Open Innovation in Financial Services: An Interview with FINOS
JOIN US
London Open Source FinTech Meetup
Join us on 30 January 2020 for the inaugural event of the London Open Source Fintech Meetup, co-hosted by Scott Logic. Our three speakers from Barclays, Adjoint and FINOS will be discussing all things DevOps in financial services including how it fits into the FINOS Open Developer Platform (ODP). Register here.
OSSF 2020
Next year we will hold an Open Source Strategy Forum in both London and New York, that’s right we’re doing it twice! We’re finalizing dates now but are planning on May in London and November in New York. Submit your talk now!
GET INVOLVED
FINOS Activity Catalog: Search our Programs, Projects and Working groups
Programs Meeting Calendar: Scroll through the calendar to find a meeting to join
Program Status Dashboard: See a live snapshot of our community contributors and activity
Events: Check out our upcoming events or email marketing@finos.org if you'd like to partner with us or have an event idea.
OSSF: Planning for next year’s Open Source Strategy Forum is underway. Sign-up to get the latest updates.
