Community Blog

Community Blog

Open Source in Finance Podcast: Durable Execution & Open Source Innovation, Max Fateev, CTO Temporal

December 10, 2024

In this episode of the FINOS podcast, Grizz Griswold interviews Max, the Co-Founder and CTO of Temporal, which is a new member of FINOS. They delve into the concept of durable execution, a groundbreaking approach that allows processes to persist despite system failures, significantly improving developer productivity and resiliency. Max shares his extensive journey, from his early days at Amazon to co-founding Temporal, and the insights gained along the way.

The discussion also explores the open-source model, the importance of security in financial services, and how Temporal's technology is revolutionizing the industry. Tune in to learn about the challenges and triumphs of building and managing a tech company, especially in the open-source ecosystem.

Tech Sprint Summary

December 02, 2024

The FINOS Tech Sprint 2024 from July 16 to September 30 brought together the best of open source, collaboration and cutting-edge technology to tackle real-world challenges in financial services. The excitement peaked last week at Microsoft Ignite, where one of our standout use cases, developed on TraderX took center stage during a keynote!  This year also took a significant step forward in bridging the recently merged OS-Climate community with FINOS members and projects, further enhancing our shared commitment to open source.

FINOS Training - Introduction to the Common Domain Model (CDM) - LFEL1016 - from TradeHeader

November 28, 2024

TradeHeader is a co-creator of the Common Domain Model (CDM) framework.  It is one of the few maintainers of the standard, participates in day-to-day development and is committed to driving the adoption of CDM across the industry. 

As a partner to FINOS on CDM, TradeHeader provides advisory and implementation services on CDM, as well as specialist training to a variety of firms.

Take the Introduction to CDM LFEL1016 Training!

Embracing the Future of Open Source in Finance

In a highly competitive market, financial services organizations and fintech companies face the challenge of evolving their technologies while maintaining a robust, secure, and compliant infrastructure. The role of open source software has become increasingly pivotal. At this exciting intersection of collaboration and regulation adherence, I have decided to join the Fintech Open Source Foundation (FINOS) as a Field CTO. This move is not just a career transition for me, it is a commitment to shaping the future of finance through the power of open source.

Open Source in Finance Podcast: Ensuring Compliance in AI and DevOps with TestifySec - Featuring Cole Kennedy

November 25, 2024

In this episode of the FINOS podcast, Grizz Griswold interviews Cole Kennedy, founder and CEO of TestifySec. Explore the importance of compliance in AI and DevOps, especially within highly regulated industries like financial services and defense. Learn about the challenges of data governance in AI models, the necessity of tracking and verifying compliance processes, and how the In-toto project offers a framework for cryptographic validation.

Cole shares insights from his diverse journey, including his military background, engineering pursuits, and the inception of TestifySec. Discover the future of AI compliance and the role of open source in driving innovation.

OSFF Insights: How can modern database software simplify reporting?

November 20, 2024

Data challenges are universal and only grow more complex each year, but I’ve observed that many financial services firms still lack open source software capabilities to address basic data quality and accuracy challenges. Conversations with fellow delegates at the recent OSFF NYC further affirmed my belief that common reporting and regulatory compliance requirements are forcing software developers to re-implement ad hoc common concepts - such as soft-deletes, audit-logging, and as-of queries - in almost every system they build, regardless of scale. Beyond the sheer inefficiency of it all, this implies that firms are becoming overly reliant on the abilities of large (and expensive) engineering teams to build and maintain these capabilities correctly. Let’s consider how open source software might rise to meet this challenge.

AI Strategic Initiative Series: Applying LLMs to Simplify CDM

November 13, 2024

Currently in its incubation stage, the LLM Exploration Project adopts a use case-driven approach informed by our initial design thinking exercise. Following the first Use Case Identification Workshop at OSFF London, the second workshop at OSFF NYC brought together industry experts to delve into how Large Language Models (LLMs) can be applied to the Common Domain Model (CDM) to enhance interoperability and accessibility. 

Open Source Software in Finance: Trends and Insights

Financial organizations increasingly rely on open source software as a foundational component of their mission-critical infrastructure. In this blog, we explore the top open source trends and technologies used within the FinTech space from our recent State of Open Source Report — with insights on the unique pain points these companies experience when working with OSS. 

No More Posts