Last week at FinJS London, I had the chance to share the Foundation’s vision for an open source fintech ecosystem. As usual, our friends at OpenFin did a terrific job with the event and I had great conversations with folks from banks, startups, and vendors. Here I share my thoughts, as well as the video of the presentation.
While open source has gradually become central to the business models of even the most reluctant firms in the software industry, software development in financial services remains uniquely siloed. For all of their technical sophistication and business savvy, few firms are ready to make the jump from consuming open source to contributing to an open source project.
The Symphony Software Foundation’s mission is to foster the open development of software infrastructure shared by the financial services and fintech industries. And while even the last holdouts against open source in the software industry have at last embraced collaborative development—Microsoft recently joined the Linux Foundation—most financial services firms still approach open source with caution.