Linux Foundation Research has released the following report, in partnership with the Fintech Open Source Foundation (FINOS)
Abstract: The increased prevalence, importance, and value of open source is well understood and widely reported by many industry surveys and studies. However, the rate at which different industries acknowledge this shift and adapt their own business and technology practices to capitalize on open source opportunities differs considerably.
The financial services industry has been a long-time consumer of open source software. At the same time, open source software and standards development have not been activities at the core of financial services industry business models and technology strategies. Consequently, the levels of contribution to – and publishing of – open source, in software development, or in terms of allocating staff resources, are still in their infancy.
This report identifies the extent to which the financial services industry is active in open source, creating a baseline of understanding of governance, leadership, consumption, contribution, culture, and overall open source aspiration. Further, the report highlights the obstacles and challenges to improving industry-wide collaboration and concludes with a set of actionable insights for improving the state of open source in financial services.