The purpose of the Open Source Readiness Project is to accelerate financial services firms’ journeys toward open source readiness. The concrete goals of the Project are to 1) advance the readiness of participants’ firms and 2) to inform guidance for the broader industry in the form of white papers, presentations, and blog posts.
Meetings will be designed to provide value to, and welcome participation from, participants at every stage of open source readiness. Each meeting will center on a particular open source topic, introduced by a reading or presentation, followed by a discussion and "office hours" where members can raise issues and get answers. Topics will generally relate to strategy & business value, policy & process, and tools & technology.
Financial services firms face a variety of barriers, both real and perceived, that impede adoption of Open Source software and related software development practices. These obstacles include:
- Corporate strategy considerations on competitive advantage and protecting trade secrets
- Legal & regulatory concerns or incompatible internal policies
- Inhospitable technical environments & resistance from corporate IT departments
- Cultural friction & open source myths
FINOS helps firms overcome these challenges with its Open Source Readiness Project, focused on enabling financial services organizations and employees to be first class citizens in OSS Communities. The group has produced several valuable practical resources for firms developing their open source strategy and process, listed below.
A guide for complying with a wide range of open source licenses in common use cases. It's an invaluable resource for enabling developers to manage the most common compliance tasks without unnecessary legal and compliance review.
A comprehensive model corporate policy for consuming, contributing to, and publishing open source software. It's a great starting point for firms adopting their first open source policy or revising an existing one.
Our whitepaper on Business Value of Open Source in Financial Services lays out the business case for open source engagement and is a helpful aid for pitching open source to decision-makers on the business side of finance firms.
We built some high-level workflows for common open source compliance processes, along with a checklist that helps establishing an open source compliance program within your firm.
This group is open to anyone. The primary audiences are financial services firms seeking to learn more about open source readiness and companies with mature open source programs interested in sharing knowledge. While various products and solutions will be discussed at meetings, promotion of specific vendors or products is not appropriate at Project meetings or on the mailing list, nor are press and PR inquiries.