The financial services industry is in the midst of a profound AI transformation. As firms increasingly find ways to integrate Generative AI and agentic AI systems, the focus has shifted from if we can use AI to how we can use it responsibly and securely. FINOS, through its open source initiatives, has been a leading voice in establishing frameworks to guide financial institutions in this evolving landscape.
Why Banks and Cloud Providers Are Choosing Collaboration Over Fragmentation
At Sibos 2025, I had the pleasure of moderating a panel with Allison Nachtigall (Microsoft) and Aric Rosenbaum (Red Hat) on the benefits of bringing together financial institutions and technology vendors to define common controls and how open collaboration can accelerate modernization in the financial sector — from cloud adoption to AI risk governance.
Generative AI is transforming every sector, but in financial services its adoption comes with unique stakes: compliance, trust, and systemic risk. While large language models (LLMs) and other AI systems promise productivity gains across research, compliance, trading, and customer engagement, they also introduce challenges that generic benchmarks cannot adequately address.
This tension was at the heart of the recent FINOS workshop and techsprint in London, where engineers, architects, developers and open-source contributors working in the FSI converged to shape an Evaluation Framework for AI in Finance.
Interested in FINOS open source AI? Click the link below to see how to get involved in the FINOS AI Community.
At our most recent FINOS Open Source in Finance Meetup, speakers from NVIDIA and Sonatype discussed the risks of AI in Finance.
This video is from a live virtual meetup on 7 May 2025.
I'm Karl Moll, a Technical Project Advocate at FINOS, and I recently had the valuable opportunity to attend the SEC Roundtable on Artificial Intelligence in the Financial Industry in Washington D.C. This standout event brought together a diverse group of experts to tackle the complexities at the intersection of AI, finance, regulatory compliance, and governance. I’m excited to share how FINOS’s role in these vital discussions has developed — including our work on a pioneering AI Governance Framework.
