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201808 - An introduction to FINOS, the Fintech Open Source Foundation

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201808 - An introduction to FINOS, the Fintech Open Source Foundation

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201808 - An introduction to FINOS, the Fintech Open Source Foundation.

The Value of Open Source in Financial Services, how FINOS can support your open source strategy, our Programs and Community, Value of Corporate membership

201808 - An introduction to FINOS, the Fintech Open Source Foundation.

The Value of Open Source in Financial Services, how FINOS can support your open source strategy, our Programs and Community, Value of Corporate membership

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201808 - An introduction to FINOS, the Fintech Open Source Foundation

  1. 1. finos.orgFintech Open Source Foundation Confidential Driving innovation Enabling Collaboration Gabriele Columbro Executive Director July 2018
  2. 2. finos.orgFintech Open Source Foundation The FINOS Community by the Numbers 19 Working Groups 300+ Contributors 8 Collaborative Programs 31 Member Organizations finos.org/members SILVER MEMBERS GOLD MEMBERS PLATINUM MEMBERS 72 Open Source Repos finos.github.io
  3. 3. finos.orgFintech Open Source Foundation WHAT? The Golden Circle Of Open Source WHAT makes sense to contribute and what is my strategic differentiator? HOW? HOW should I effectively engage in open source in a regulated industry? WHY? WHY should I or my organization be doing open source? What’s the business value? Source: SIMON SINEK
  4. 4. Fintech Open Source Foundation We Live In The Era Of Platforms 4 Source: Deepthi Rajan - http://www.thedigitaltransformationpeople.com/channels/strategy-and-innovation/why-banks-should-reinvent-banking-in-the-era-of-platform-economy BANK-OWNED APPS FINTECH APPS INDIE DEVELOPER APPS CORE BANKING SYSTEMS CRM DATA WAREHOUSE DATA LAKES API API API API API SERVICE PROVIDERS Banking As A Platform
  5. 5. Fintech Open Source Foundation Traditional solution oriented business models 5 PRODUCTION DISTRIBUTION MARKETING CONSUMER In traditional business models Value creation Is linear and one-way
  6. 6. Fintech Open Source Foundation Platforms thrive with open ecosystem 6 In Platform business models Value creation is two-way and continuous Logos are © and (™) of their respective owners PLATFORM ECOSYSTEM Finos.org
  7. 7. Fintech Open Source Foundation Community Open Ecosystem Openness enables organic platform ecosystems 7 THE OPEN PLATFORM Value Line NETWORK CONTENT APP Open Standards (Open API) PLATFORM VENDOR END USER / INTEGRATOR , Quasi-Open Ecosystem, Lower CAC, Reuse, Easy integration Interoperability, alignment to business requirements influence by standards groups Finos.org Business Value Open Source Community contributions, Focus on Core Value/IP, scalable GTM, resource pool competitor commoditization, No vendor lock-in, lower TCO, talent retention, influence by contribution, trust but verify, give back Open Standards ensure high longevity for open source software Open Source enables faster standard adoption and iterations
  8. 8. Fintech Open Source Foundation Technology leaps come from Open Innovation Google Opens specs for Map Reduce 2004 BIG DATA Amazon launches AWS based on Xen, Linux, Dynamo 2006 CLOUD First release of MongoDB 2007 NOSQL Satoshi releases 0.1 of Bitcoin 2008 BLOCKCHAIN Facebook contributes Cassandra to Apache 2009 NOSQL Yahoo contributes Hadoop to Apache 2011 BIG DATA Node.js joins the Linux Foundation 2015 MODERN DEV Google open sources TensorFlow 2016 MACHINE LEARNING
  9. 9. finos.orgFintech Open Source Foundation Big Dollars Flowing Into Open Innovation 25+Unique venture capital firms investing in Open companies last year $2.4b Venture dollars in Open companies 2014* 200+Open technology startups that raised funding over the last decade 11 Open companies valued above $1b** $2.4b Venture dollars in Open companies 2014** *Black Duck OPENHUB Project Statistics **Accel, Crunchbase, Mattermark, Traxn
  10. 10. finos.orgFintech Open Source Foundation FINOS is the trusted forum for fintech Open Innovation FINANCIAL ECOSYSTEM INNOVATION OPEN SOURCE OPEN STANDARDS
  11. 11. Fintech Open Source Foundation 11 Transparent Governance IP Cleanliness, Legal Defense Software Quality and Security Standards Technical Decision Making, Project Lifecycle Collaboration Policies and Workflows Best of Breed Developer Experience Financial Services Focus Community and Membership Management Events and Training Advisory & Enablement TRUST GROWTHEFFICIENCY Finos.org How FINOS supports Open Innovation
  12. 12. finos.orgFintech Open Source Foundation Meet market requirements ▪ Your software must inter operate with best of breed OSS software ▪ Your customers prefer or require OSS ▪ Provide a no vendor lock-in offering ▪ Regulators require transparency in your technology Reduce software TCO ▪ Mutualize development and maintenance costs of non differentiating / competitive IP ▪ Reduce maintenance costs with support of the open source community ▪ Leapfrog into best of breed available open source solutions to consolidate platform proliferation Technology-centric firms OSS strategic Value Use or Drive innovation ▪ Best in class software in some areas is OSS ▪ Collaborative development allows rapid evolution ▪ Community as faster medium for test and incubation of new capabilities ▪ Create “open” ecosystems without bilateral agreements Gain Market Advantage ▪ Drive a de facto standard in the Market ▪ Cheaper and effective go-to-market strategy ▪ Undermine a competitor by commoditizing their offering ▪ Facilitate partnerships at low friction / low cost 1 2
  13. 13. finos.orgFintech Open Source Foundation The Financial Services firm Deutsche Bank contributes Plexus, production ready interoperability framework part of Autobahn Business value Reduce TCO through mutualization of non differentiating IP Listen to customer requirements and move past single dealer platforms Access an engaged community and compliant OSS infrastructure A diverse Community is engaging with FINOS The Fintech provider OpenFin contributes to FINOS Hadouken, the open source version of the OpenFin platform Business value Reduce concerns for vendor lock-in Achieve interoperability with other vendors, e.g. driving FDC3 standard Leverage FINOS governance and legal support to enable banks contributions 1 3 The Open Source vendor In 2017 Red Hat begins offering Openshift as part of FINOS Open Developer Platform Business Value Offer a best of breed developer environment to fintech developers Position its technology as part of the reference architecture for fintech OSS Improve product collecting financial services industry requirements
  14. 14. finos.orgFintech Open Source Foundation FINOS Community Governance CORPORATE GOVERNANCE, STRATEGY Reports To MEMBERS Approves Propose / Sponsor NEW PROGRAMS Each program decides scope and composition COMMUNITY GOVERNANCE OPERATIONS SteersReports To Board of Directors & Cmtees Made up of representatives from member firms and classes Steers Approves & Steers Reports To PROGRAM A PROJECTS WORKING GROUPS PROGRAM A PMC Each program decides scope and composition PROJECTS WORKING GROUPS PROGRAM B Approves & Steers Reports To PROGRAM B PMC Each program decides scope and composition
  15. 15. Fintech Open Source Foundation The Open Developer Platform 15 SYMPHONY (ReST API) SYMPHONY (Extension API) RELEASE PUBLISHING Maven central, NPM, NuGet CONTINUOUS INTEGRATION Travis CI FREE for all our open source contributors! finos.org/odp FINTECH OPEN DATA High Productivity Turnkey Developer Experience OPEN SOURCE DEVELOPER SOFTWARE CONSUMER SYMPHONY (Integration webhooks) Biz & Legal Peace Of Mind - We Do The Hard Part! CODE HOSTING Github SECURITY, QUALITY, IP COMPLIANCE Whitesource A SECURE AND COMPLIANT DEVELOPER ENVIRONMENT FOR OPEN SOURCE FINTECH COLLABORATION Finos.org | 4.13.18 FINTECH OPEN APIS CLOUD OPEN APIS CONTINUOUS DELIVERY Openshift
  16. 16. finos.orgFintech Open Source Foundation What are FINOS Programs? Reports To A Program is a cohesive set of open collaborative initiatives aimed to solve a common business problem for the financial services industry. Programs are proposed solely by Members, And composed of Open Source Projects and Working Groups open for anyone to join. Programs are operated transparently and independently under the oversight and steering of the Board of Directors. Steer s Reports To Board of Directors Made up of representatives from member firms and classes Steer s Approves & Steers Reports To PROGRAM A PROJECTS WORKING GROUPS PROGRAM A PMC Each program decides scope and composition PROJECTS WORKING GROUPS PROGRAM B Approves & Steers Reports To PROGRAM B PMC Each program decides scope and composition
  17. 17. finos.orgFintech Open Source Foundation FINOS Programs at a glance FDC3 Financial Desktop Collaboration & Connectivity HAD Hadouken Ecosystem SYM Symphony Ecosystem FDX Finserv Developer Experience OSR Open Source Readiness FOS Financial Objects Standardization PLEXUS Plexus Interoperability VOICE Voice Technology Foundational Infrastructure Middleware platforms Interoperability standards Applications DT Data Technology WIP
  18. 18. finos.orgFintech Open Source Foundation OSS VALUE (Why?) OSS CHALLENGES (How?) DECISION MAKERS ENABLEMENT LINE OF BUSINESS ENABLEMENT WHY OPEN SOURCE? Business Value of OSS Engagement WHAT TO OPEN SOURCE? Identity “Value Line”, OSS Commercialization Tactics LEGAL Contribution Policy, CLAs, License CULTURAL Cultural, Community RoE TECHNICAL OSS Supply Chain DevOps Workflow Open Source in regulated industries is not easy Member Success initiative Open Source Readiness Program Open Developer Platform World-Class OSS legal and Technical Experts HOW CAN FINOS HELP?
  19. 19. finos.orgFintech Open Source Foundation The FINOS Open Source Readiness Program Ad Hoc Consumption No Contribution Ad Hoc Tracked consumption No Contribution Tracked Tracked consumption Minor contribution Managed Tracked Consumption and Contribution Minor contributions Small proprietary contributions Standardized Consume Contribute Lead Automated rule based consumption All level of contributions including managing own open source software Strategic Open Source Readiness Assessment helps you identify where you are on the maturity scale. Awareness (People) Policy (Process) Technology (Tools) OSS Readiness Assessment Benefits & Business Value of OSS Whitepaper Open Source Engagement Strategies Reference FOSS policy for FinServ OSS Decision-maker Councils How to set up OSS Program Office Surveillance solutions for open source engagement OSS events & basic trainings Compliant OSS engagement infrastructure FinServ OSS program office knowledge sharing Continuous IP compliance / security validation tools Compliant infrastructure for FINOS projects Open source license guidance Open source project governance guidance Programs Community Self-Promotion tools
  20. 20. Fintech Open Source Foundation 5 Stages of Community Engagement 20 EVALUATE CONSUME PARTICIPATE CONTRIBUTE LEAD What the Foundation offers the FinServ developer The Foundation’s open source projects or open standards In existing Programs or Events hosted by the Foundation A new project or working group to the Foundation A program, project or working group hosted by the Foundation Engage with our Community at finos.org/programs
  21. 21. finos.orgFintech Open Source Foundation And Consi of Membership INDUSTRY NETWORK Engage with industry leaders Collaborate with technology and business leaders with extensive expertise and the vision to drive the future of Open Source in Financial Services. Head of Innovation CIO Global Markets Director of Data Science Head of Strategy & Solutions Head of Platform Director Cloud Infrastructure Head of Client Technology MEMBER SUCCESS Focus on achieving member goals Benefit from our member-only initiative dedicated to maximizing member value from all stages of engagement with FINOS. OSS strategy High-value opportunities Policy advice Readiness assessment Member OSS metrics Training sessions and workshops Bespoke member reports Exert significant influence over the strategic direction of FINOS programs and future focus areas. STRATEGIC DIRECTION Steer Programs and focus areas Open Data Distributed Ledgers Common financial objects Signals and Hashtags Voice enabled technology Bots, bots and more bots Application interop
  22. 22. finos.orgFintech Open Source Foundation Member benefits Member organizations get several benefits in addition to contributors: ▪ Access to FINOS Board ▪ Propose new programs ▪ Influence Foundation strategy and corporate governance ▪ Attract talent through brand positioning with Foundation ▪ Access member only events and resources ▪ Faster value through Open Source with our proactive Member Success initiative
  23. 23. finos.orgFintech Open Source Foundation finos.org 1117 So. California Avenue Palo Alto, CA 94304 +1 650.665.9773 info@finos.org Join our Community and become a Member today! finos.org/programs finos.org/become-a-member https://finosfoundation.atlassian.net/wiki/x/4oCl B finos.github.io twitter.com/finosfoundation announce@finos.org

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