Community Blog

FINOS is proud to announce that EPAM's contribution of TimeBase Community Edition is now available for the FINOS Community to consume and leverage from the timebase-ce repository in GitHub.

TimeBase CE is an open source Apache 2 licensed time series database, streaming engine and messaging middleware for the financial markets domain. TimeBase CE is designed to solve business goals for both buy-side and sell-side institutions.

FINOS is delighted to share that we are rolling out LFX Insights for FINOS projects. Insights gives you complete visibility into project performance and ecosystem trends. It helps you understand your contributor community and make informed decisions with analytics and reporting tools.

You can read highlights about LFX Insights below and get even more information at https://lfx.linuxfoundation.org/tools/insights.

Start viewing FINOS activity now at https://insights.lfx.linuxfoundation.org/projects/finos.

Open source has become a key enabler of business and technology transformation in almost all organizations. From cloud deployment to application modernization and security operation, open source plays a critical role. It is used in almost all organizations, delivers business growth, facilitates innovation, and allows organizations to respond to their technical, organizational, business and industry challenges in order to scale into new markets, products, and services. Yet, many organizations do not have open source representation in their C-Suite. Organizations may assign the responsibility for open source management to the Chief Technology Officer (CTO) or Head of IT, who may have purely technical and engineering backgrounds and mindsets, and cannot fully and appropriately represent the value of engaging in open source activities. This lack of dedicated executive representation results in open source not being understood and prioritized correctly at the C-level. The need to manage and leverage open source effectively has given rise over the past decade to the new role of Chief Open Source Officer. In this article, we argue for the need to appoint such a role to steer effective open source governance that is aligned with corporate governance, its mission and vision. The position requires a strong presence within the top executive team that can set the right level of engagement for an open source strategy.

By Gilles Gravier, Director & Reza Alavi, Managing Consulting, Both of Open Source Consulting Practice, Wipro Limited

The banking sector is facing rapid and irreversible changes across technology, customer behaviour, and regulation. While customers are demanding ever higher levels of service and value and regulations are impacting business models and economics, technology can be a potent enabler of both customer experience and effective operations. 

The banking industry will look radically different in the near future as new banking models will bring a lot of product and service innovation. There is a new wave of digital-only banks across the globe challenging traditional banking players. The digital-only banks are tightening the competitive landscape and the competition would create the impetus for banks to do more with technology and provide better customer services. In this quickly shifting landscape, financial institutions of all shapes and sizes need to find every possible way to respond and compete. This is where technology and innovation matters - having an open and flexible technology architecture driving business agility. 

Open source technologies and open innovation have the potential to level the playing field and accelerate the pace of digital business transformation enabling financial institutions to get products and services to market faster and help solve the challenges facing the financial services industry. 

By Kris Sharma, Financial Services Sector Lead, Canonical

FINOS Silver Member EPAM recently sat down with Brad Levy, formerly managing director and global head of loans at FINOS Gold Member IHS Markit and CEO of MarkitServ—the firm’s post-trade service for OTC derivatives—to discuss how open source in financial services is gaining momentum.