Welcome to our second FINOS newsletter since our April launch. This is written to keep FINOS members, program contributors, project consumers, and the wider financial services industry updated on news and events in our foundation and among the fintech open source community.
Dear FINOS (formerly Symphony Software Foundation) Community,
On April 24th at NASDAQ in New York we announced a new vision for our Foundation and Community: in response to the growing demand of our Community to support open source collaboration in the financial services industry at-large, I am proud to announce our Foundation is now FINOS, the Fintech Open Source Foundation.
And, as if that wasn’t enough, we also announced the addition of several exciting new Members: UBS, Github, Red Hat, Nodesource, Thomson Reuters now bring us up to 30 Corporate Members (and counting)!
Open Source Has made its entrance
In 2017 the financial services industry asked: What is open source and why does it matter? This interest in open source itself is a huge milestone for an industry filled with legal and regulatory hurdles. Not only was open source a topic of interest in 2017, but banks and FinTech start-ups took it a step further – realizing the benefits of collaboration, they began to embrace open source and integrate it into their core strategy and value proposition. Read Open Banking Starts with Opening Bank Culture and The Symphony Software Foundation: Bringing Open Source to Wall Street to hear more about these exciting changes.
It has been right around 6 months since I last wrote about the state of the open source projects hosted by the Foundation and I figured it was high time to revisit the topic and share a mid-year update. In January’s post, I concluded with a teaser of some work that, at that time, was just getting under way:
“We are currently investigating what it would take to provide soft real-time metrics (initially for projects) to project teams, the community, the ESCo and ultimately, the Foundation Board, and have identified a number of intriguing solutions in this space.”
What an exciting first year of activity for the Symphony Software Foundation! From a standing start a year ago, we’ve accelerated over the course of 2016 to become one of the larger open source communities within the financial services and technology industries. Now that the team, governance and processes are in place, we’re looking forward to building our momentum through 2017.
It’s been two months since I last posted, and I have a lot of exciting news to share with you about the Symphony Software Foundation.