FINOS (the Fintech Open Source Foundation), a nonprofit that promotes open innovation in financial services, announces the addition of four new members.
North American financial services company, Royal Bank of Canada (RBC), Wipro Limited, a global information technology, consulting and business process services company, open source security and license compliance management platform WhiteSource, and Axoni, a New York-based technology firm that specializes in decentralized financial infrastructure, are the latest additions to the growing roster of FINOS members.
“Not only do these impressive new members add to our international presence, they each support fundamental parts of our foundation,” said Tosha Ellison, director of member success at FINOS. “We pride ourselves on bringing together expertise from companies across financial services, the open source community, technology firms and others who support the industry. We are pleased to see our community grow across each knowledge area and welcome these forward-thinking partners.”
FINOS Appoints RBC’s Kim Prado as Board Director
RBC joins FINOS as a Platinum member and its managing director, global head of CM client, banking and digital channels technology, Kim Prado, will join the FINOS board of directors. Prado is a prominent financial services executive who has led impactful technology initiatives over the course of her career. She supports the FINOS-led Financial Desktop Connectivity and Collaboration Consortium (FDC3), which brings universal connectivity and standards to the financial industry’s desktop applications. Its first version was delivered in March.
“We are pleased to join the FINOS community, a natural strategic partner for our increasingly open-first strategy,” said Prado. “FINOS has been a fierce advocate for open source adoption and collaboration and we look forward to working even more closely with the foundation to accelerate this great work by increasing our participation in FINOS programs and initiatives.”
New Gold and Silver Members Wipro, WhiteSource and Axoni Support Key FINOS Programs
New Gold member Wipro will provide essential advisory and large-scale transformation expertise and experience to multiple FINOS programs such as Financial Delivery Accelerator (FDX), Decentralized Ecosystem Growth (DEG) and Open Source Readiness (OSR). FINOS will also work with Wipro to develop scaled blockchain and open source solutions.
“As a strategic open source partner for financial services firms, we help them accelerate their enterprise transformation journey,” said Andrew Aitken, general manager and global open source practice leader, Wipro Limited. “Our unique advisory services help align customers’ open source consumption, contribution and publishing models with their strategic business objectives. We are excited to add to the growth of the FINOS foundation and contribute our expertise and experience to large-scale transformations. We look forward to working closely with the FINOS ecosystem to drive strategic open source adoption and solutions for the financial services industry.”
New Silver member WhiteSource’s open source security and management solution is already deployed within the FINOS Open Developer Platform (ODP), ensuring the security and IP compliance of FINOS produced open source software. FINOS will work closely with WhiteSource to ensure members can harness the power of open source without compromising on security or compliance.
“Given our deep expertise with banks and investment firms, we look forward to working with the FINOS Community to ensure financial services-grade open source software is produced by FINOS developers,” said David Habusha, VP of product at WhiteSource. “We are excited to grow our commitment as a new member and look ahead to doing exciting work together.”
New Silver member Axoni already works closely on projects with several of FINOS’ current members. The financial technology company will contribute to the Decentralized Ecosystem Growth (DEG) program to collaborate on open source software to help the financial industry build blockchain and decentralized solutions at scale.
“Our FINOS membership further affirms our commitment to delivering solutions for financial services through innovation in open source,” said Greg Schvey, CEO of Axoni. “We believe FINOS provides a strong framework for collaboration that can drive development for decentralized solutions and innovation in financial services.”
FINOS’ membership funding has grown over 40% since 2018, accelerating the growth of the community and further validating the opportunity for open source in financial services.
