Synechron joins the Fintech Open Source Foundation to further open source mutualization

By Edlyn Cardoza

Synechron, Inc., a leading digital transformation consulting firm focused exclusively on the financial services industry, recently announced that it has proudly joined the Fintech Open Source Foundation (FINOS) as a Silver corporate member. The announcement was made on November 10 at the FINOS Open Source Strategy Forum held in New York. Synechron is among five new corporate members to join the consortium, bringing the non-profit organization’s membership to 54 members. Synechron is joined by new members Bank of Montreal, WhiteSource, the EDM Council and the International Securities Lending Association.

As a new corporate member, Synechron will join the expanding consortium in its initiatives to bring open-source collaboration to the financial services industry. The broad and growing adoption of open-source technology allows financial services firms within the financial ecosystem to empower the next wave of developer-driven innovation. Synechron will contribute its deep financial services industry domain experience and comprehensive innovation expertise toward the FINOS 2022 focus on modernization of developer-centric financial services. Specific attention will be paid to areas such as cloud services certification and DevOps mutualization.

“We are excited to join FINOS and its industry-leading members in their mission to foster the adoption of open source, open standards and collaborative software development practices in financial services,” said Faisal Husain, Co-founder and CEO of Synechron. “Being part of FINOS and contributing directly to the Cloud Data Management Capabilities (CDMC) framework gives us the opportunity to collaborate with many of our clients at the same time towards a common goal of accelerating secure and compliant cloud use. We’ve been pioneering the development of cloud and pipeline controls over the last decade and are proud that our control testing technology is being deployed at the heart of the CDMC framework. We’re looking forward to expanding our involvement as maintainers of the Compliant Financial Infrastructure and Open Compliance for CDMC.”

“FINOS’ membership is growing in number, and we are glad to welcome collaborative organizations like Synechron that have extensive experience working with open source technologies across the entire financial services industry,” said Gab Columbro, executive director of FINOS. “By contributing time and resources to new endeavors, such as Open Compliance for CDMC, Synechron will be an important partner to further our goals to expand open source adoption across the industry. We see great potential for our work together and expect strong community engagement for our projects.”

“We plan to offer our expertise, initially, in relation to the Compliant Financial Infrastructure and Open Compliance for CDMC, thereby enabling contributors to build post-deployment validation tests that can be run from any infrastructure-as-code pipeline. That will ensure resources meet the strict CDMC standards,” said Eddie Knight, Senior Consultant at Citihub Digital (a Synechron company) and Developer Advocate for Probr.