"Driven by common industry pain points and unforeseen complications, capital markets firms have begun using open-source technology more widely."
A recent article in Waters Technology by Rebecca Natale breaks down how banks are turning more and more to open source in order to fundamentally remove "friction from trying to innovate in finance" ~ Alejandra Villagra, Global Head of Citi Velocity.
Here is an excerpt from that article:
The full article can be found here
“While open source was once considered taboo on Wall Street, it has become one of the capital markets’ favorite toys. A number of factors— including ever-looming competition from Big Tech, common industry pain points, and unforeseen complications such as the coronavirus pandemic— have inspired sell-side firms to look at open-source technology in a new light.”