Community Blog

TRAC Data and Analytics Platform is now Open Source in FINOS

Written by Grizz Griswold | 4/7/22 11:22 PM

FINOS and the Accenture team are excited to announce that TRAC D.A.P. has been successfully contributed to the Open Source Community and is now available as a FINOS hosted project at https://github.com/finos/tracdap.

“TRAC provides a solution to the problems that many financial organizations face today. When confronted with retiring their legacy infrastructure and moving to a modern cloud paradigm, then what happens? How can they avoid migrating the processes and procedures they have today, with all the associated problems? How do they achieve regulatory compliance and at the same time move towards a truly agile and automated business? 

TRAC is unique in its approach to answering these questions, what’s more it’s free and open source  - so the cost of adoption is low.” - Greg Wiltshire, Risk Modeller, Accenture.

TRAC is a next-generation data and analytics platform for use in highly regulated environments. Most financial institutions have similar pain-points in Risk and Finance - fragmented data architectures, high cost of change, lack of model insight, poor traceability and difficulty reproducing results to name a few. TRAC solves these problems by re-drawing the boundary between business and technology, to bring a step change in power, flexibility and control.

"TRAC is addressing some of the most complex and in-TRACtable problems in Financial Services regulation compliance with its ability to maintain correlation between code and data versions. Today, it is a necessity for every bank. We are very thankful to Accenture for opening it to the community and look forward to its adoption and expansion of functionality within the industry". - Jane Gavronsky, CTO, FINOS

The most current open-source release is version 0.4.1, which contains the core components needed to build an end-to-end workflow. The following resources are available for download: 

Documentation: https://tracdap.finos.org/

Model runtime package: https://pypi.org/project/tracdap-runtime/

Web API package: https://www.npmjs.com/package/@finos/tracdap-web-api

We are also preparing demo sessions to showcase TRAC to FINOS members which will be included in “This Week at FINOS’ email and the Community Calendar once dates are confirmed. 

To get in touch with the TRAC project team and for more information on how to start contributing, visit here: https://github.com/finos/tracdap/blob/main/CONTRIBUTING.md

 

Interested in FINOS open source projects? Click the link below to see how to get involved in the FINOS Community.

 

FINOS Good First Issues - Looking for a place to contribute? Take a look at good first issues across FINOS projects and get your feet wet in the FINOS community.

State of Open Source in Financial Services Report 2021 - Learn about what is really happening around open source in FSI.

This Week at FINOS Blog - See what is happening at FINOS each week.

FINOS Landscape - See our landscape of FINOS open source and open standard projects.

Community Calendar - Scroll through the calendar to find a meeting to join.

FINOS Slack Channels - The FINOS Slack provides our Community another public channel to discuss work in FINOS and open source in finance more generally.

Project Status Dashboard - See a live snapshot of our community contributors and activity.

Events - Check out our upcoming events or email marketing@finos.org if you'd like to partner with us or have an event idea.

FINOS Virtual "Meetups" Videos & Slides - See replays of our virtual "meetups" based around the FINOS Community and Projects since we can't all be in the same room right now.

FINOS Open Source in Finance Podcasts - Listen and subscribe to the first open source in fintech and banking podcasts for deeper dives on our virtual "meetup" and other topics.