Bahaa Abdul Hussein brings our attention to Fintech Open Source Foundation and explains about it in this article.

Digital Currency has the power to transform the economies connecting government, people, businesses, organizations, and people globally and locally with the help of technology. It had a significant impact over a while with more advances in the future. We must share information freely and openly across borders, institutions, and industries to achieve success. It will create a robust database that strikes decision-making and innovation.

Without collaboration and open-source development between the stakeholders, they have to invest individually to build and will have no way to avoid mistakes and duplication of efforts.

That’s why the Fintech Open Source foundation plays a significant role in creating an open community dedicated to open-source solutions for financial services. It provides an independent setting to deliver standards and software that drives innovation and common industry challenges.

Community

This community comprises individuals like technologists, developers, and industry leaders from the world’s largest tech firms and financial services to concur on a vast range of open-source projects. They accept contributions from individuals irrespective of their expertise level.

The members get extra benefits like participating in member-only events and can shape the mission of the Foundation by providing collaborative resolutions for the challenges faced. This community is recommended to those

  • Who are looking to promote open-source financial services
  • Who  wants to accelerate the open-source journey

FINOS Projects

The various FINOS projects are

Perspective

Perspective is a conjoint data visualization and analytics component which is used for streaming and large projects. It creates user-configurable applications, notebooks, dashboards, and reports.

FDC3

The leading companies formulated the Financial Desktop Connectivity and Collaborative Consortium (FDC3) standard in the financial industry. It adheres to API standards, uses standardized verbs, shares the context between apps, and uses the App directory.

Compliant Financial Infrastructure

Compliant Financial Infrastructure involves the adoption, deployment, and development of services provided for infrastructure to meet internal security and existing regulatory controls.

Legend

Legend data management platform was introduced into FINOS to open-source. It is an amenable platform that gives solutions to connect, define, explore and integrate data into business processes.

FINOS is an independent nonprofit organization reinforced by its members. It helps grow financial services through open-source adoption in the industry. They aim to bring together people to engage in an open collaboration for sharing knowledge, experimenting, and working on open standards and research. It will contribute to forming a fair place to use and share technologies.

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