The Linux Foundation, a nonprofit organization enabling mass innovation through open collaboration, announced on Friday that Fintech Open Source Foundation (FINOS), a nonprofit whose mission is to accelerate the adoption of open-source software, standards and best practices in financial services, has become an official Linux Foundation organization.
As previously reported, Linux Foundation member contributions help provide the infrastructure and resources developers need to grow and sustain many of the world’s most successful open-source projects, which include Hyperledger, Kubernetes, Linux, Node.js, and ONA. The Fintech Open Source Foundation (FINOS) describes itself as an independent nonprofit organization focused on promoting open innovation during a period of unprecedented technological transformation within financial services.
“FINOS believes that organizations that embrace open source software development and common standards will be best positioned to capture the growth opportunities presented by this transformation. The foundation offers an Open Developer Platform (ODP), a compliant Open Source Readiness Program and The Open Source Strategy Forum (OSSF), the leading global event for financial executives and technologists dedicated to open innovation.”
Speaking about FINOS participation in the foundation, Jim Zemlin, executive director at the Linux Foundation, claims that in less than two years, the organization has become the “go-to” foundation for open source collaboration in financial services. He then added:
“With this sector’s focus on technology-driven solutions, we feel the time is right to bring our two communities together to enable the next stage of innovation for our projects.”
Linux Foundation is currently supported by more than 1,000 members.