As financial services firms get serious about open source collaboration, one of their first priorities is getting a handle on the open source software they're already using. Open source may be free-of-cost but it's not free of obligation: using it responsibly means compliance with open source licenses and keeping current with updates to ensure the products using it remain secure.
Last week at FinJS London, I had the chance to share the Foundation’s vision for an open source fintech ecosystem. As usual, our friends at OpenFin did a terrific job with the event and I had great conversations with folks from banks, startups, and vendors. Here I share my thoughts, as well as the video of the presentation.
The Symphony Software Foundation’s mission is to foster the open development of software infrastructure shared by the financial services and fintech industries. And while even the last holdouts against open source in the software industry have at last embraced collaborative development—Microsoft recently joined the Linux Foundation—most financial services firms still approach open source with caution.