Community Blog

Community Blog

Seizing Opportunities: Open Source Finance in 2024

March 04, 2024

Hi everyone! Karl Moll here (Technical Project Advocate here at FINOS) - if we haven’t met yet, you can check out my previous blog post (reflecting on my first 60 days). I had the opportunity last week to host my first All Community Call at FINOS, and I could not be more excited with how the call went. We explored new methods to make the call more concise for the community audience, and it proved beneficial, as we covered an unbelievable amount of content in just 55 minutes! It's a year of exciting possibilities, so let's dive in!

2024-03-04 Karl Moll Seizing Opportunities Open Source Finance in 2024

The Q1 FINOS All Community Call

First things first - A BIG thank you to all our panelists and attendees for showing up and staying through the call. We know your time is valuable, and we will do everything possible to make sure that everything presented at community calls will be as relevant as possible to the people who show up. If you have any feedback, please feel free to reach out to me directly at

In case you missed it, watch the recording and view the slides here.

Secondly - Thanks to our presenters! We were able to keep to a strict schedule while covering an immense number of exciting topics:

2024 Q1 All Community Call Zoom Team Photo
You can find our panelists in our "thank you" post on LinkedIn!

A Year of Transformation

2024 is shaping up to be groundbreaking for the open-source financial services landscape. At FINOS, I've been so impressed by the community's vibrancy and the broader industry's willingness to adopt open-source solutions. We're seeing amazing momentum in:

  • AI's Growth: This is the topic on everyone’s mind, and there has been a significant interest in the industry in working together to develop standards, best practices, benchmarks, and regulatory compliance strategies.
  • Cloud Standards: More streamlined collaboration thanks to evolving industry standards.
  • Open Ecosystems for Compliance: Continued interest & investment in open regtech infrastructure and tooling.
  • Interoperability: A decisive shift away from siloed applications.
  • Diversity, Equity, & Inclusion (DEI): Continued dedication to these vital initiatives.

2024 FINOS Strategic Initiatives

FINOS has a clear roadmap for advancing open-source collaboration in finance this year. During the Community Call, Gab Columbro outlined the following key initiatives, each contributing to our shared vision:

  • FINOS Ambassador Program: Strengthening community advocacy and outreach to empower members to become champions of open-source finance. 
  • Artificial Intelligence Initiative: Addressing AI concerns, developing guidelines, and fostering open-source AI tools and datasets for the finance sector. 
  • Open Source Readiness (OSR): Collaboratively defining guidelines and a maturity model for successful open-source adoption within financial services. (Speakers: Brittany Istenes)
  • FDC3: Enabling seamless interoperability amongst desktop financial applications for streamlined workflows. (Speakers: Kris West)
  • Common Cloud Controls (CCC): Streamlining cloud adoption by establishing shared standards for security, resilience, and compliance within financial services. (Speaker: Chanel Crawford)
  • Common Domain Model (CDM): Creating a standard data language to improve data quality and collaboration throughout the industry. (Speaker: Chris Rayner)
  • Regtech Council: Tackling regulatory challenges through technology, and fostering regulatory innovation through open-source collaboration. (Speaker: Jane Gavronsky)
  • DEI: Cultivating a diverse and inclusive open-source finance community through education, targeted initiatives, and strategic programs. (Speaker: Rimma Perelmuter)
  • Zenith: Driving industry-wide technology innovation by identifying and exploring emerging technologies that are critical for the future of financial services. (Speaker: Keith O'Donnell)

How to get involved:

Complete the form to register your interest in learning more about, or participating in the FINOS 2024 Strategic Initiatives. FINOS members have an opportunity to take leading roles in these projects. If you’re not yet a member and would like to enjoy exclusive benefits, check out our Member Benefits guide for more information or reach out to

OSFF 2024

If all this has you excited, make sure you register for the upcoming Open Source in Finance Forum in London on June 26th and stay tuned for updates on OSFF NYC taking place on September 30th and October 1st! I’m looking forward to getting to work with you all between now and then to help showcase your projects’ work, forge new collaborations, and engage with the wider industry.

Let's Collaborate

I believe 2024 will be a year where the FINOS community reaches new heights. Let's work together! Please reach out if I can support your project's success. You can find me on social media or via the FINOS channels.


- Karl Moll, FINOS


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