FINOS Spearheads Open Innovation In Fintech Space With Open Source Strategy Forum

Benzinga is highlighting nominees for the fifth annual Benzinga Global Fintech Awards ahead of the event Nov. 19 in New York City.

One nominee is the Fintech Open Source Foundation, or FINOS, a nonprofit for the promotion of open innovation in the financial services and tech spaces.

Background

Founded in 2018, the California-based foundation accelerates collaboration and innovation in financial services by pushing for the embrace of open source software solutions and common standards.

Recent Developments

FINOS will be hosting the third annual Open Source Strategy Forum, or OSSF, on Nov. 20 in New York City.

OSSF is a conference where financial services, open source and tech leaders discuss open source projects, standards and innovation policies.

"Our impressive growth mirrors the accelerating adoption of open source across the financial services industry," said Gabriele Columbro, executive director at FINOS, said in a press release.

"No longer an open secret, open source has broken through as an essential technology element to any financial institution’s growth strategy. OSSF shines a light on collaborative and trailblazing approaches to solving common technology problems."

Going Forward

FINOS is excited to be a part of the Global Fintech Awards, said Tosha Ellison, the nonprofit's director of member success.

The awards "shine a light on some of the major innovations taking place in financial services," she said.

"Our goal at FINOS is to accelerate the adoption of open source technology through our community of financial institutions, consultants and developers."

The 501(c)(6) nonprofit aims to expand its network of over 30 member organizations and 300 contributors in order to continue making a difference in the data technology and financial services space.

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