We are excited to welcome Hitachi as a new Silver Member of the Fintech Open Source Foundation (FINOS). As a global leader in technology, Hitachi's commitment to driving innovation and standardization in the financial services industry will bring immense value to the FINOS community. Their expertise in promoting best practices and enhancing security and user experience aligns perfectly with FINOS’s mission to advance open standards in financial services. Through their involvement, Hitachi will play a key role in shaping global regulatory compliance, improving security for financial applications, and advancing the use of open source software in the industry. We look forward to collaborating with Hitachi to further strengthen the financial ecosystem through open-source contributions and industry best practices.
You can read the full Hitachi press release from June 24th below.
Promoting best practices to improve security and user experience for payments, asset management, etc.
Hitachi, Ltd. ("Hitachi") has joined the Fintech Open Source Foundation (FINOS) as a Silver Member to promote innovation and standardization in the financial services industry on a global scale. FINOS is an international organization that promotes the adoption of open standards (standardization of specifications) and best practices for the development of financial services, with more than 100 companies and organizations participating. By participating in FINOS, Hitachi aims to enhance the security and user experience of financial services, such as payments and asset management. Also, we will promote the spread of best practices in the financial industry in addition to standardization activities to address issues and regulations related to the use of OSS and AI.
In the financial industry, API integration between services and application development utilizing OSS are becoming more common in order to improve the convenience of services. At the same time, regulations concerning transaction security and the protection of personal information are being tightened year by year in each region. Furthermore, in recent years, the trend toward global standardization of financial services is evolving in response to rising geopolitical risks and the rapid development of AI. Promoting such standardization is a common challenge for the financial industry and is becoming increasingly important for the community to tackle.
Hitachi has been involved as a maintainer in the development of key functions of Keycloak*1, a leading OSS for cloud-native authentication and authorization management. For example, the Hitachi maintainer coordinated the implementation of support for FAPI (Financial-grade API), an API security standard used worldwide in the financial industry, while incorporating the needs of financial institutions. Since the establishment of Hitachi OSPO*2, we have also cooperated with The Linux Foundation and shared our expertise in establishing OSPO with multiple communities. These activities have increased opportunities for companies to actively participate in the OSS communities for business purposes, leading to further community energization.
Moving forward, Hitachi will leverage the knowledge gained from its involvement with Keycloak and the establishment of OSPO to promote standardization activities for financial services compliant with global regulations in FINOS. Through these activities we will contribute to the development of the financial industry by establishing the best practices that ensure security and improve convenience, and by sharing those practices within the community. In addition, we will contribute to the establishment of governance for the use of AI in the financial industry by developing guidelines that address emerging security threats associated with the advancement of AI.
*1 Hitachi's approach to Keycloak (Japanese only)
URL: https://www.hitachi.co.jp/products/it/oss/efforts/keycloak/
*2 November 8, 2024 " Established the Open Source Program Office (OSPO) to Globally Lead the Strategic Utilization of OSS"
URL: https://www.hitachi.com/New/cnews/month/2024/11/241108.pdf
Related Sites
Hitachi OSS (Open Source Software) (Japanese only)
https://www.hitachi.co.jp/products/it/oss/index.html
Hitachi Financial Solutions Site
https://www.hitachi.com/products/it/finance/index.html
Trademark Notes
Other organization and product names are trademarks or registered trademarks of their respective organizations.
For inquiries, please contact
AI & Software Services Business Unit, Hitachi, Ltd.
Contact form (Japanese only): https://www.hitachi.co.jp/it-pf/inq/NR/
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