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Open standard launches following monumental industry-wide support with more than 100 participants from 20+ firms during formation phase.
NEW YORK, NY – October 17, 2023 - The Fintech Open Source Foundation (FINOS), the financial services umbrella of the Linux Foundation, today announced the addition of two new gold members: Hedera and, Sonatype as well as nine new silver members: ComplianceCow, Concourse Labs, Connectifi, Container Solutions, Kinetix, Leading Point,Orkes, Percona, StormForge, and one new associate member: Interledger Foundation. The continued expansion of FINOS members, ranging from established financial institutions to fintechs, showcases the transformative power of open source within the financial services industry. These members will be announced on stage at the Open Source in Finance Forum (OSFF), on November 1st in New York City, as they represent diverse and leading edge players across the entire financial service open source supply and value chain. The continued momentum of membership, now totalling an impressive 79 organizations globally, demonstrates FINOS' commitment to driving innovation and collaboration across the industry.
Global visionaries headline the premier open source in finance event in the world, addressing artificial intelligence, cybersecurity, cloud financial management and concentration risk, mainframe computing, frontend engineering, diversity recruiting, research, and more.
Championed by Citi and joined by over 10 global financial firms, the project welcomes broad industry participation across financial services, technology and cloud service providers.
FDC3 is now widely adopted as a cross-industry interoperability standard and it’s experiencing a major investment from the ecosystem at large
Organization aims to provide an avenue for shared R&D across financial services and a concrete path to production adoption of transformative technologies in the financial services industry through open source
Value of Open Source Software and Standards for Buy-Sides Expands
Memberships signal growth of open source readiness across financial services; 64% of organizations maintain at least one open source software project, according to FINOS survey data
The three associations have teamed up with FINOS to provide a repository for the CDM project, aimed at fostering the growth of an open-source community for the CDM and ensuring neutrality
Open Source in Financial Services to Continue to Rapidly Expand in 2023
