RCS - FINOS - FINOS Welcomes Seven Financial Leaders

IntelAnnouncement

26/06/2024 08:15

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RNS Number : 9303T  FINOS  26 June 2024

FINOS Welcomes Seven Financial Services and Technology Leaders, Accelerating
AI, Cloud and Interoperability Strategic Initiatives

Landmark additions of DTCC, FactSet, Intel, JSCC, AWS, Provectus, TestifySec
consolidate FINOS pivotal role as a neutral hub for open collaboration in
financial services

The Fintech Open Source Foundation (FINOS (https://pr.report/do6) ), the
financial services umbrella of the Linux Foundation, is proud to announce the
addition of new members to its ecosystem (https://pr.report/do7) : DTCC
(https://pr.report/do8) , FactSet (https://pr.report/do9) , Intel
(https://pr.report/doa) , Japan Securities Clearing Corporation (JSCC)
(https://pr.report/dob) have joined as Gold members, and Amazon Web Services
(AWS) (https://pr.report/doc) , Provectus (https://pr.report/dod) , and
Testify Sec (https://pr.report/doe) have joined as Silver members.
Additionally, interop.io (https://pr.report/dof) has elevated its commitment
from Silver to Gold Membership. These companies join FINOS to contribute to
open collaborations that benefit the entire financial services industry's
value chain, like the recently announced AI Strategic Initiative
(https://pr.report/dog) .

"I couldn't be more thrilled to welcome so many globally recognized
organizations to the FINOS community," said Gabriele Columbro, Executive
Director of FINOS and GM of Linux Foundation Europe. "Not only does the
increased commitment of existing contributors like FactSet and interop.io
demonstrate once more the value our most established projects like FDC3 are
delivering across the industry, but the additions of JSCC, AWS, Provectus and
Testify Sec strengthen our position as "the commons" for financial services
and will undoubtedly fuel our strategic initiatives (https://pr.report/doh) in
2024 and beyond "

New Members React

DTCC, the premier post-trade market infrastructure for the global financial
services industry, has joined the FINOS community as a Gold member.

"DTCC is excited to join the FINOS community and collaborate with other
industry leaders to help advance innovation across the financial technology
landscape. Given our position as a highly regulated entity in the global
financial markets, we look forward to sharing our knowledge and experience, as
well as participating in FINOS' strategic initiatives that align with DTCC's
focus areas including the responsible governance and use of Artificial
Intelligence and Common Cloud Controls and the Common Domain Model (CDM),"
stated Johnna Powell, Managing Director, Global Head of Technology, Research
and Innovation, at DTCC.

FactSet, a global financial digital platform and enterprise solutions
provider, joins FINOS to leverage OSFF and the member only AI Readiness SIG
(https://pr.report/doi) .

"A key pillar of FactSet's strategy is to create a flexible ecosystem for
customers by facilitating the integration of datasets and interoperability of
applications and systems. We see this as a way to unlock true efficiency for
our customers and the financial industry. For several years, FactSet has been
involved with FINOS through contributions to FDC3 (Financial Desktop
Connectivity and Collaboration Consortium), and we are excited to officially
join FINOS as members and expand our contribution to even more critical
workstreams they support. AI Readiness is a topic of great importance to us,
our clients, and the financial industry, and we look forward to sharing our
expertise and collaborating with clients and peers to solve our biggest
challenges collectively," said Kate Stepp, Chief Technology Officer at
FactSet.

Intel is a technology industry leader, creating world-changing technologies
that enable global progress and enrich lives. Intel is also one of the largest
software organizations in the world and a leader in the development of open
source technology and AI.

"We are pleased to join FINOS and its members in working together to meet the
challenges facing the financial services industry as it transforms with the
power of artificial intelligence. As one of the largest software organizations
in the world, and a leader in enterprise edge AI deployments, we truly believe
open source ecosystem collaborations foster innovation for success. Aligned
with our initiatives to bring AI everywhere, FINOS and its members have the
capacity to bring the flexibility, agility, speed, and cost-effectiveness of
open source technology to power the future of the financial services
industry," Renee Torres, VP and General Manager of Solutions and Services,
Intel.

Japan Securities Clearing Corporation (JSCC) is a clearing house (CCP) within
the Japan Exchange Group, providing clearing services for Equities, Japanese
Government Bonds, Listed Derivatives, and OTC Derivatives.

"As a first step, we plan to further research the Common Domain Model and
explore opportunities to serve the financial community in our future-oriented
efforts towards realizing global cross-market and cross-product
standardization within an open source ecosystem," said Kei Miyazato, Head of
Strategic Planning for Clearing IT Innovation department, JSCC.

interop.io, a long standing FINOS member and lead maintainer of the FDC3
project, has upgraded to Gold Membership to leverage the extensive training,
certification and software conformance benefits offered by FINOS.

"We've been an active participant and member of FINOS since 2017 and are proud
to be upgrading to a Gold membership. As a firm, we continue to invest heavily
in open standards and lead the FDC3 working groups. FINOS is the key that
unlocks collaboration across open source and open standards inside the
financial services industry," said Dan Schleifer, President and Co-Founder at
interop.io.

AWS, a leading cloud service provider (CSP), joins FINOS to contribute its
High Throughput Computing-Grid (HTC-grid) project to the open source
community. The AWS HTC-Grid-project (https://pr.report/doj) aims to provide
scalable, secure, and efficient computing solutions for the financial services
industry.

"Financial services institutions are facing immense computational demands and
the pressing need for modernization," said Adam Honoré, Head of Financial
Services Service Development, at AWS. "That's why we open sourced the HTC-Grid
project in 2022 to help any customer handle massive volumes of short and
long-running tasks with unparalleled throughput, low latency, and seamless
infrastructure orchestration. We're thrilled to join FINOS and donate HTC-Grid
to the foundation, allowing us to collaborate with a broad community of
financial services institutions and technology providers so the whole industry
can benefit."

Provectus, a recognized provider (https://pr.report/dok) of AI-first business
transformation consulting services, brings expertise in artificial
intelligence, machine learning, and data engineering to the FINOS community.
Their commitment to open source and innovation aligns perfectly with FINOS'
mission to foster the adoption of open source software, standards, and best
practices in financial services.

"Provectus is thrilled to join FINOS and contribute to the advancement of open
source solutions in the financial services industry," said Stepan Pushkarev,
CEO of Provectus. "We believe that open collaboration is crucial for fostering
innovation and addressing complex challenges in the continuously evolving
finance sector. With our expertise in AI, machine learning, and data
engineering, we are well-positioned to actively engage in FINOS' strategic
initiatives, particularly in the responsible adoption of AI and cloud
computing. We are eager to join forces with other industry leaders to shape
the future of finance through open source collaboration".

TestifySec, a leader in software supply chain security, also joins FINOS to
get involved with the AI Readiness SIG.

"We are thrilled to join the Fintech Open Source Foundation. At TestifySec, we
believe in the power of collaboration and innovation in open source
communities. Joining FINOS aligns perfectly with our mission to enhance AI and
application security across the financial services industry. We look forward
to contributing to and growing with this vibrant ecosystem, advancing secure
and compliant software practices together," said Cole Kennedy, CEO and
Co-Founder at TestifySec.

For more information about FINOS, its strategic initiatives, and how to get
involved, please visit the website (https://pr.report/dol) .

To learn more about joining FINOS as a member, visit the Member Benefits page
(https://pr.report/dom) .

Meet the new FINOS members in person at the Open Source in Finance Forum
(OSFF) (https://pr.report/don) today, June 26th in London and New York on
September 30th & October 1st.

About FINOS

FINOS (https://pr.report/doo) (The Fintech Open Source Foundation) is a
nonprofit whose mission is to foster the adoption of open source, open
standards and collaborative software development practices in financial
services. It is the center for open source developers and the financial
services industry to build new technology projects that have a lasting impact
on business operations. As a regulatory compliant platform, the foundation
enables developers from these competing organizations to collaborate on
projects with a strong propensity for mutualization. It has enabled codebase
contributions from both the buy- and sell-side firms and counts over 50 major
financial institutions, fintechs and technology consultancies as part of its
membership. FINOS is also part of the Linux Foundation, the largest shared
technology organization in the world. Get involved (https://pr.report/dop) and
join FINOS (https://pr.report/doq) as a Member. To stay up to date on FINOS
news, events, podcasts, blogs, and more, sign up here (https://pr.report/dor)
.

Media Contacts:

Julia Telford

Stanton Communications, Inc

jtelford@stantoncomm.com

+1 (716) 796-8313

Patrick Doherty

FINOS

patrick.doherty@finos.org

+1 (206) 245 8574

SOURCE: FINOS / The Linux Foundation

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