FINOS Foundation Executive Director Gab Columbro (@mindthegabz) recently participated in a Tearsheet podcast to discuss a number a topics on the financial industry’s growing adoption of open source. You can listen to the interview here.Some highlights from the interview include:
- Fintech’s role in accelerating a more rapid adoption of open source development within financial services that has drastically changed the industry in just the past two years alone.
- How natural competitors in the financial services working collaboratively on programs facilitated by FINOS can help firms reduce their development costs, find more technology talent, and accelerate innovation.
- How the Foundation’s tiered membership structure promotes a unique collaboration between the largest investment banks (e.g. Goldman Sachs, Morgan Stanley, and JP Morgan) and smaller fintechs who are leveraging open source as a way to showcase their tech in front of much larger firms.
- How individual developers can benefit by contributing to FINOS programs as both a way to promote their visibility with financial services firms while simultaneously building their own personal portfolio and helping solve industry-wide problems.
- Discussion of FINOS programs such as Open Source Readiness , Financial Objects , Desktop Interoperability (FDC3), Financial Development Experience (FDX), Symphony, Hadouken, and Voice.
- Gab’s thoughts on the future of open source development, including trends such as Open APIs and Open Data, and their potential for industry mutualization.