NEW YORK, NY – October 17, 2023 - The Fintech Open Source Foundation (FINOS), the financial services umbrella of the Linux Foundation, today announced the addition of two new gold members: Hedera and, Sonatype as well as nine new silver members: ComplianceCow, Concourse Labs, Connectifi, Container Solutions, Kinetix, Leading Point, Orkes, Percona, StormForge, and one new associate member: Interledger Foundation. The continued expansion of FINOS members, ranging from established financial institutions to fintechs, showcases the transformative power of open source within the financial services industry. These members will be announced on stage at the Open Source in Finance Forum (OSFF), on November 1st in New York City, as they represent diverse and leading edge players across the entire financial service open source supply and value chain. The continued momentum of membership, now totalling an impressive 79 organizations globally, demonstrates FINOS' commitment to driving innovation and collaboration across the industry.
As FINOS continues to build its community of members, the organization will be able to continue investing in strategic areas of open source collaboration in 2023, such as Open Source Readiness, FDC3, and Open RegTech. “We are delighted to welcome our new members, each of whom brings unique expertise and perspectives to our growing community. Their diverse contributions will undoubtedly play a pivotal role in accelerating the development and adoption of open source solutions across the financial services landscape,” said Gabriele Columbro, Executive Director of FINOS & General Manager of Linux Foundation Europe.
New Members React
“We are truly excited to be a Gold member of FINOS - With abrdn, DBS Bank, FIS (Worldpay), Nomura Holdings, Shinhan Bank, and Standard Bank as members of the Hedera Governing Council, and community initiatives such as the Stablecoin Studio and Guardian ESG platform, the Hedera ecosystem is well aligned with FINOS' mission. The Hedera network is an open source, public ledger capable of 10,000 transactions per second with the lowest carbon footprint of any distributed ledger technology." - Andrew Aitken, FINOS board member & Chief Open Source Officer, Hedera Hashgraph, LLC (Hedera LLC)
“As the maintainers of Maven Central, the largest repository of open source components, Sonatype has a unique view into how great the demand for open source within financial institutions has become in recent years. However, as that demand has grown, so has risk - bad actors are taking advantage of the power of open source and are seeking to use that against the industry in the form of malicious software supply chain attacks. This has put developers on the frontline of security. One of our key missions at Sonatype is to help organizations continuously harness all of the good that open source has to offer, without any of the risk, and FINOS and its members share a similar vision. The financial industry was one of the first to recognize this risk and has been a long-time partner in building tools with us. We’re honored to officially join FINOS to continue this work with the full FINOS community, and collectively make open source safer and more secure.” - Brian Fox, CTO, Sonatype
"We are excited to join FINOS and the FINOS Common Cloud Controls Project. Our journey towards Open Trust, tearing down barriers between security, governance, risk, and compliance with contextual automation and frictionless collaboration, aligns with FINOS’ and FINOS’ Common Cloud Controls mission. We look forward to learning from and contributing to the community." - Raj Krishnamurthy, CEO, ComplianceCow
“As an innovator and leading provider of automated, control-centric, multi-cloud security policy delivery and enforcement, Concourse Labs recognizes the need and supports the design of consistent and accessible Cloud Standards which will improve security and control measures for the Financial Services industry. We look forward to collaborating on the FINOS Common Cloud Controls project to ensure the industry can securely realize the full benefit of their multi-cloud initiatives.” - Don Duet, Co-founder & CEO, Concourse Labs
"As a long time contributor to both FINOS and the FDC3 standard, the Connectifi team is delighted to be partnering with FINOS to bring application interoperability to a new level of adoption and value". - Nick Kolba, CEO Connectifi
“Container Solutions are delighted to join FINOS, which has already helped us validate our Open Source efforts around the Compliance Framework, and gained us access to members who work across common standards bodies and industry-leading practitioners in the controls space." - Mark Dale, Senior Client Partner, Container Solutions
“Leading Point is a specialist Data, AI and Digital Op Model delivery provider and venture studio for global financial institutions. A big part of our DNA is solving complex and significant industry problems with scalable, cost-effective and business-wide solutions in the areas of future trading workflows, risk & compliance, digital assets, cloud security, finance and decision analytics. We firmly believe that it has never been more important to galvanise open-source solutions and industry standards and we have been privileged to be at the forefront of this through our work on industry projects including Waltz, FINOS Common Cloud Controls and Metadata Management. We are excited to bring this practical experience and our entrepreneurial spirit to help increase industry adoption and shape new solutions working closely with the FINOS team and all the amazing members.” - Rajen Madan, CEO, Leading Point
"At Orkes, we believe in innovation networks so it was natural for us to join FINOS and connect the Netflix Conductor's open source community with the most important open source community for the financial services industry. By working closely with FINOS and its members, our mission is to bring the power of microservices orchestration to existing or new projects and help buy-side, sell-side and brokers to design and execute the next generation of operational workflows." - Olivier Poupeney, Head of Developer Relations, Orkes
“We are delighted to announce Percona’s partnership with FINOS, further enhancing our engagement within the financial services sector. As pioneers in the open source database management space, we recognize our financial services clients' unique demands and regulatory complexities. This marks a significant step in our journey as we collaborate to shape the future of database technology in the financial sector, offering tailored, best-in-class database management solutions.” - Ann Schlemmer, CEO, Percona
“StormForge is excited to be joining the FINOS Foundation. We have been collaborating with large financial enterprises for several years on how to help solve the evolving complexity of Cloud Native platforms like Kubernetes. Operationalizing Kubernetes deployments at any scale leaves users with a mountain of toil and unmanageable cloud costs. Solving this requires advanced ML solutions that combine with automation to help reduce the toil and continuously right-size resources to drive costs out of your cloud environment.” - John Platt, CTO, StormForge
“Interledger joined FINOS because they are helping to shape the future of open innovation through engaging a diverse community of financial services and technology organizations. This aligns appropriately with our mission to build equity and inclusion within a global interoperable payments network and increase access to digital financial services for the 1.4 billion people who are currently excluded.” - Briana Marbury, CEO & President, Interledger Foundation
To learn more about joining FINOS as a member, visit the Member Benefits page.
Meet the new FINOS members in person at the Open Source in Finance Forum (OSFF), on November 1st in New York City. Keynotes were announced for the conference on October 3rd, including executives from Citi, J.P. Morgan, Wellington Management, BMO Capital Markets, Morgan Stanley, Google, and more!
FINOS (The Fintech Open Source Foundation) is a nonprofit whose mission is to foster adoption of open source, open standards and collaborative software development practices in financial services. It is the center for open source developers and the financial services industry to build new technology projects that have a lasting impact on business operations. As a regulatory compliant platform, the foundation enables developers from these competing organizations to collaborate on projects with a strong propensity for mutualization. It has enabled codebase contributions from both the buy- and sell-side firms and counts over 75 major financial institutions, fintechs and technology consultancies as part of its membership. FINOS is also part of the Linux Foundation, the largest shared technology organization in the world. Get involved and join FINOS as a Member. To stay up to date on FINOS news, events, podcasts, blogs, and more, sign up here.
FINOS/The Linux Foundation
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.
All FINOS Project Good First Issues - A good place to start contributing to, and making a difference in, open source in financial services is by taking a look at the FINOS Good First Issues (GFI) List on GitHub.
Project Status Dashboard - See a live snapshot of our community contributors and activity.
FINOS Open Source in Fintech Podcasts - Listen and subscribe to the first open source in fintech and banking podcasts for deeper dives on our virtual "meetup" and other topics.
Interested in FINOS open source projects? Click the link below to see how to get involved in the FINOS Community.