What’s the future of open development platforms? Find out at an upcoming FINOS forum.

Cut support and operations costs. Modernize IT systems to better service customers and associates. Provide more personalized engagement opportunities that are channel-agnostic. These are just a few of the pressing challenges today’s financial services companies face. One way to help overcome these challenges is the adoption of open source technologies and more collaborative models like open banking.

Historically, the financial services industry has been more conservative when it comes to adopting new technologies and participating in more collaborative ecosystems – even if they have the potential to drive innovation and boost productivity. That may be due to the legal, IP, and compliance regulations that dominate the industry. So, for fintech developers to fully move out of their comfort zones and into open banking — defined as a network of financial institutions’ systems that fosters secure data sharing through application programming interfaces (APIs) – they will need secure continuous integration/continuous delivery (CI/CD) pipelines across the open source community software supply chain. That’s where the Fintech Open Source Foundation (FINOS) Open Developer Platform (ODP) comes in.

Continue reading “What’s the future of open development platforms? Find out at an upcoming FINOS forum.”

Red Hat Joins the Fintech Open Source Foundation (FINOS)

Red Hat prides itself in leading the way in community-based innovation and associated best practices for enterprise consumption. This is why we are thrilled to announce that we have joined the Fintech Open Source Foundation (FINOS). FINOS is a nonprofit organization promoting open innovation in the financial services community. Red Hat OpenShift is providing the underlying technology for FINOS’ Open Developer Platform (ODP), one of the leading venues for community development within the financial services community.

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WSTA panels cover emerging technologies and cloud for financial services

The financial services sector is ramping up investments in next-generation technologies, including both private and public cloud. It’s not just cloud, of course. Artificial intelligence (AI), machine learning, blockchain, advanced data analytics – the list goes on.

Red Hat’s Alessandro Petroni and Bill Lathram each participated in panels at recent Wall Street Technology Association events. The following are their first-hand perspectives of the events.

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Banking on containers to accelerate application development in financial services firms

IT moves fast, and there’s always something new to investigate, develop, test and implement. For a risk-averse and increasingly competitive industry like financial services – which is undergoing seismic changes, thanks to digital technology – it can be a challenge to keep up. Linux containers can help bridge gaps between the developer and operations teams so they can create and deploy applications more efficiently.

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Modern applications and open source: a path to success for financial institutions

Financial services is becoming a digital business, and that digital heartbeat brings with it many opportunities as well as significant challenges. Clients today are much savvier and have higher expectations for exceptional digital experiences, and traditional asset and wealth managers, banks and insurance companies are under intense competitive pressure, not only from one another, but from non-traditional entrants new to the market. To remain relevant, financial institutions need to deliver superior client experiences across channels, remain agile to navigate the changes, reduce costs and improve operational efficiencies, and most importantly, innovate. At the recent Gartner Symposium/ITxpo 2017 in Orlando, I shared how application modernization can help financial services institutions do just that.

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