Led by BMO Financial Group, FINOS Adds 6 Members to its Growing Community Dedicated to Open Source Technology Adoption Across Financial Services - Seite 2

FINOS looks to focus on "developer-centric financial services modernization" in 2022, with specific attention to areas like cloud services certification and DevOps mutualization. Newest Gold and Silver members WhiteSource, the leader in open source security and management, and Synechron, a leading digital transformation consulting firm focused exclusively on the financial services industry, bring added value to this specific strategy.

"The growth of compliance initiatives and regulations are causing significant changes to the way financial organizations use technology," said Ori Bach, executive vice president of product at WhiteSource. "WhiteSource's FINOS membership will help us further advance industry-leading standards in open source security governance and compliance."

"We are excited to join FINOS and its industry-leading members in their efforts to promote open source, pan industry technology development that recognizes future needs," said Faisal Husain, Co-founder, and CEO of Synechron. "We look forward to collectively paving the way forward for the financial services industry and beyond using our shared knowledge, and innovation skills toward modernization efforts for cloud services, DevOps and more." He added, "The Synechron team is ready to offer its financial services expertise and work with FINOS on their Compliant Financial Infrastructure and Compliance for Cloud Data Management Capabilities (CDMC) projects."

FINOS is also welcoming new Associate members to the community. This includes EDMC, the leading trade association for data management and analytics; ISLA, a leading industry trade association representing the common interests of securities lending and financing market participants across EMEA; and the Mojaloop Foundation, which advances the financial inclusion mission of the Mojaloop, an open source project aimed at empowering organizations to design more inclusive digital financial services.

EDMC will concentrate on CDMC (Cloud Data Management Capabilities) compliance and open-source regulation projects by partnering with FINOS to develop the first open-source suite created to accelerate cloud compliance processes. ISLA will expand value across data standards and interoperability, and both will work with FINOS on its overall goal to bring together fintechs and financial institutions through open source. The Mojaloop Foundation will collaborate with FINOS in helping financial services firms in developing countries learn more about open source readiness through FINOS' Open Source Readiness Project (OSR) and designing open collaboration models with regulators and the regtech community through the FINOS' Open RegTech Initiative.

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