Symphony Software Foundation Sets Out to Build a New Fintech Innovation Model
(Thomson Reuters ONE) -
Adds four new Silver Members: Arcontech, BankEX, Cloud9 Technologies and FinTech
Studios
PALO ALTO, CA--(Marketwired - July 25, 2017) - Symphony Software Foundation (the
Foundation), the nonprofit organization fostering innovation in financial
services through open source software (OSS), continues to build on its 2016
growth, paving the path for a new fintech innovation model based on secure and
compliant open collaboration.
Less than 20 months from its inception, the Foundation now counts more than 50
projects, 100 plus contributors, four active working groups, and 25 member
organizations as part of the Symphony ecosystem; successes which lead to a
notable Annual Members Meeting. For a full update on the 'State of the Source',
read Peter Monks' latest blog post.
New Fintech Members Broaden Technology Spectrum
Since then, four new fintech organizations signed on as Silver
Members: Arcontech, BankEX, Cloud9 Technologies and FinTech Studios. With these
new members' experience in financial market data solutions, distributed ledger
technology, voice trading and AI technologies, the Foundation continues to
broaden the fintech diversity of its community.
Gabriele Columbro, executive director, Symphony Software Foundation said, "When
done right, open source enables a degree of innovation which is simply not
possible in proprietary development or solution-time collaboration models like
open APIs or open standards. The growth of our community shows how these
strategic benefits can outweigh legal, technical and frankly cultural aspects
preventing effective innovation in financial services technology. We see our
Foundation as the proven-to-be-trusted environment where fintech producers and
consumers can collaborate on open source, industry-grade standard solutions,
sparking innovation on common and new use cases that have the potential of
reshaping Wall Street."
Matthew Jeffs, CEO, Arcontech, said, "Arcontech is very happy to join the
Symphony Software Foundation. Communication and community is the very essence of
the financial marketplace. The combination of Symphony and Arcontech as a
provider of real-time market data solutions makes perfect sense. Working with
the Foundation will allow us to contribute our knowledge in the processing and
management of real-time market data whilst significantly enhancing our highly
performant, vendor-agnostic desktop solutions to present a truly viable
alternative to traditional market data terminals."
Igor Khmel, founder, BankEx, said, "BankEx joins the Symphony Software
Foundation to be part of a global collaboration effort to establish open
standards in new type of assets origination and trading, while leveraging the
last generation of bank-as-a-service fintech and distributed ledger technology,
bringing real assets to crypto currencies and crypto-assets to capital markets."
German Soto Sanchez, global head of corporate development, Cloud9 Technologies,
said, "Cloud9 joins the Symphony Software Foundation in the spirit of fostering
open communication, interoperability, and innovation in the financial services
community. Our mission is to eliminate the complexity and hassle of traditional
trader voice solutions while delivering services that are inherently more
reliable, less expensive and of higher quality across enterprises. We believe
collaborating with like-minded innovators is the key to modernizing
communications."
Kevin Barresi, CTO, FinTech Studios, said, "FinTech Studios joins the Symphony
Software Foundation because we believe in building an open, collaborative
community of industry leaders around next-generation technologies, products, and
workflows. We see the Foundation as one of the top groups leading this charge,
and are excited to join ranks with other members to bring a positive change in
this space."
Unlocking Open Source for Financial Services
Recent research from Black Duck's Center for Open Source Research and Innovation
(COSRI)shows that between 80 percent and 90 percent of the code in today's
applications is open source. While the audit confirms universal use, it also
reveals the ineffectiveness in addressing risks related to open source security
vulnerabilities and license compliance challenges.
"This is precisely where our Foundation provides value -- by offering a secure
and IP compliant, open source developer experience and software supply chain,
while maintaining the high productivity typical of modern, open source
communities and workflows," said Peter Monks, VP of technology, Symphony
Software Foundation. "After adding OpenShift support, we plan to continue
investing in our Open Development Platform (our open source development
reference-model), to provide our community with a shared, secure and compliant
tool chain that can power open source collaboration."
With this vision in mind, the Foundation is hosting its inaugural Open Source
Strategy Forumin New York on November 8. The one-day conference is open to
executive-level decision makers and senior technologists from financial services
seeking to drive industry innovation through open source. Call for
speakers remains open for a few more days until July 30, 2017.
About Symphony Software Foundation
The Symphony Software Foundation is an independent nonprofit organization
building an open source community and development ecosystem to foster innovation
in financial services. Its community leverages Symphony, other open source
platforms and open standards to drive efficient inter-firm collaboration in this
industry. The Foundation offers an Open Developer Platform (ODP) to all its open
source contributors, providing open API access to Symphony and a compliant open
source development process.
Foundation OSS Projects are Apache 2.0 licensed and available on GitHub
To access the ODP, visit our documentation
To learn more, visit http://symphony.foundation
To become a member http://symphony.foundation/#become-a-member
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For more information:
On behalf of Symphony Software Foundation
Tinne Teugels
Email: tinne(at)symphony.foundation
Call: 1 (646) 520 5548
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Symphony Software via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 25.07.2017 - 13:00 Uhr
Sprache: Deutsch
News-ID 553794
Anzahl Zeichen: 7568
contact information:
Town:
Palo Alto, CA
Kategorie:
Business News
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