Sawt Falasteen - FINOS Surpasses 100 Members as it Unveils 2025 Vision to Drive AI, Cloud Interoperability, and Regulatory Innovation in Financial Services

NEW YORK CITY, NY / ACCESS Newswire / January 29, 2025 / The Fintech Open Source Foundation (FINOS), the financial services umbrella of the Linux Foundation, is proud to announce it has surpassed 100 members while unveiling its strategic roadmap for 2025. With a focus on fostering open source AI for financials, advancing industry interoperability through open standards, and driving mutualization to address regulatory and sustainability challenges, FINOS is positioned to guide its members through the next wave of open source innovation in financial services.

The announcement comes as FINOS celebrates surpassing 100 members - a milestone that underscores the growing recognition of open source as a strategic imperative in finance on a global level. Among the newest members are Ant Group and Thoughtworks joining as Gold members, alongside Artian AI, G-Research, Here™ (formerly OpenFin), JUXT, Kosli, and Temporal as Silver members.

The Vision for 2025: Meeting Industry Challenges Through Collaboration

FINOS' 2025 vision focuses on addressing systemic challenges in financial services through collaborative open source initiatives. Key priorities include:

• Mutualizing AI Adoption: Building industry wide accepted governance frameworks and controls for compliant AI use in finance as well as the creation of true open source AI for financial services use cases.

• Cloud security and industry connectivity standards: Advancing open standards to enable secure and efficient cloud adoption across the industry as well as direct connectivity across market participants.

• Regulatory Innovation: Developing open source solutions to mutualize compliance with evolving global regulations.

• Sustainability: Supporting climate-aligned investing through open data standards and tools via its OS-Climate initiative.

• Global expansion: Following Japan Securities Clearing Corporation (JSCC) and Ant Group joining respectively as the first Japanese and Chinese members of FINOS.

"Surpassing 100 members is a testament to the maturity of open source collaboration in financial services - across the broadest spectrum of industry participants," said Gabriele Columbro, Executive Director of FINOS. "Our 2025 roadmap reflects the bold new vision our Governing Board feels now empowered to go after: to usher the financial services ecosystem into a new era of growth, efficiency and resiliency by harnessing the collective power of global open collaboration. Together with our diverse community, we are shaping the future of finance one open source building block at a time."

New Members Share Their Commitment to Open Source

Richard Sikang Bian, Head of Open Source at Ant Group, said: "Open Source is one of the core technology strategies of Ant Group. Joining FINOS allows us to work more closely alongside other industry leaders to advance technologies and innovations that foster greater collaboration and connectivity throughout the sector."

Thoughtworks emphasized its alignment with FINOS' mission. "Throughout our company's history, we have been ardent supporters of open source. We actively contribute to and use open source software whenever possible, constantly benefiting from the knowledge and innovation shared by the wider community. As a Gold member of FINOS, we are enthusiastic about contributing our expertise to projects that solve the most complex challenges with the financial services sector. We eagerly look forward to collaborating within an open source AI environment where transparency of process is paramount," said Rachel Laycock, Chief Technology Officer, Thoughtworks.

Building Momentum: Key Highlights from 2024

The foundation's growth in 2024 set the stage for its ambitious plans in 2025. Key achievements included:

• A Deeper and Broader Member Base: A 20% year-over-year increase in membership brought FINOS past the 100-member mark and also, saw our tent broaden cross-industry with contributions from buy-side firms, sell-side institutions, technology providers, and consultancies worldwide.

• FDC3 Adoption: Major buy-side and sell-side firms adopted FDC3 standards for application interoperability, including BlackRock's Aladdin platform and Morgan Stanley's ComposeUI.

• AI Governance Framework: The release of version 0.1 of the AI Governance Framework provided critical guidance for responsible AI adoption in financial services.

• Business-aligned Initiatives: The merger with OS-Climate expanded FINOS' focus on climate-aligned investing, delivering direct business value to the front office through open data standards and tools.

• Global Engagement: Events like the Open Source in Finance Forum (OSFF) drew nearly 2,000 participants across New York and London, reflecting a growing global commitment to open source collaboration in finance.

These milestones have set the stage for an even greater impact in 2025 as FINOS continues to expand its community and project portfolio. Get involved and join FINOS as a Member or learn more about OSFF.

About FINOS

FINOS (The Fintech Open Source Foundation) is a nonprofit whose mission is to foster the adoption of open source software, standards, and collaborative development practices in financial services. As part of the Linux Foundation, FINOS provides a regulatory-compliant platform for developers from competing organizations to collaborate on innovative projects that transform business operations. With over 100 members spanning major financial institutions, fintechs, and technology consultancies, FINOS is at the forefront of driving open source innovation in finance. Get involved and join FINOS as a Member. To stay up to date on FINOS news, events, podcasts, blogs, and more, sign up here.

Media Contact:

Patrick Doherty
FINOS
[email protected]
+1 (206) 245-8574

SOURCE: FINOS / The Linux Foundation

View the original press release on ACCESS Newswire

B.Khalifa--SF-PST