We believe that open source software and standards can change the way financial regulation is implemented and supervised.
That’s why we started the Open RegTech Initiative, to explore and promote opportunities for open collaboration between financial institutions, technology firms, service providers and regulators.
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The FINOS Regulation Innovation Special Interest Group (SIG) is a community of people interested in creating open source solutions for regulatory and compliance issues in financial services. This SIG was approved by the FINOS Governing board in October 2020 and is co-chaired by David Ehrich, Executive Director, AIR, and Ian Hollowbread, Head of RegTech ING Labs, ING.
Participants of the Regulation Innovation SIG meet monthly on the first Tuesday. Learn more at github.com/finos/open-regtech and get involved.
We believe that Open Source Software, Standards and Best Practices can unlock significant value for financial regulators and the entire financial ecosystem. This lays the foundations for a robust market infrastructure and ultimately boosts innovation and welfare by freeing up resources.
Many organizations are already collaborating on Financial Regulation projects in the open.
Open Source for Regulation Overview
FINOS presentation introducing open source with a focus on opportunities in financial regulation.
AIR Techsprint on Financial Crime - October 19-23
Bringing together a diverse set of stakeholders to surface new models of traceability and technological solutions to improve anti-money laundering tools and processes around cryptocurrencies.
On May 7th, 2020, we co-hosted a webinar with the Alliance for Innovative Regulation (AIR) that covered the basics of Open Source and its potential in financial regulation.
The Next Frontier: An Open Source RegTech Stack
Mike Stevenson explores open source as a tool to maximize investment in regulatory technology.
Waters Technology: Finos Sees Opportunity for Open Source in RegTech Space
In June 2020, Rebecca Natale, Waters Technology, reports on a conversation with Gabriele Columbro, FINOS Executive Director, on the vision and progress of the Open RegTech initiative.
What Objections Would A Regulator Have To Open Source?
FINOS member Adaptive argues that RegTech is a strong candidate to become a utility, and to be open sourced. In this article, Adaptive CEO Matt Barrett looks at some of the potential concerns a regulator might have with this model.
FINOS Launches Open RegTech Initiative
At its annual, flagship Open Source Strategy Forum (OSSF) held virtually in conjunction with the Linux Foundation on November 13th, 2020, FINOS announced the launch of the FINOS Open RegTech initiative, which aims to expand the successful open collaboration model built between financial institutions, FinTech and technology firms to regulators and RegTech companies. See the press coverage in Bloomberg, FinExtra, and Markets Media.
Become an Associate Member if your are a non-profit, government agency, association, or academic institution involved in regulatory activities
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