Microsoft will contribute to FINOS’s A.I. & cloud efforts.
Microsoft has become a Platinum Member of the Fintech Open Source Foundation (FINOS), part of the Linux Foundation, and will be expanding its leadership role within the FINOS community, officials say.
“With this expanded engagement, Microsoft is the first cloud service provider joining the FINOS Governing Board, represented by Allison Nachtigal, vice president, Azure chief product officer, customer and field experience,” officials say. “Together, Microsoft and GitHub will work to strengthen FINOS’ mission to enable secure, standardized, and scalable open source innovation across the global financial sector.”
Through their participation with FINOS, Microsoft and GitHub will contribute to FINOS initiatives such as the AI Governance Framework (AIGF) and Common Cloud Controls (CCC), officials say.
Microsoft and GitHub “will help advance the collaborative development of open frameworks and foster deeper partnerships between technology providers and financial institutions to better address the complex regulatory and operational needs of modern finance,” officials say.
“Cloud service providers are a critical partner to the financial industry’s digital transformation journey, even more in the era of Generative A.I.,” says Madeleine Dassule, FINOS chair and executive advisor. “As FINOS standards like FDC3, CDM, and CCC become pervasive in financial services, their adoption and support across big tech are a win-win for every industry constituency.”
FINOS is a nonprofit advocating the adoption of open source software, standards, and collaborative development practices in financial services. “FINOS provides a regulatory-compliant platform for developers from competing organizations to collaborate on innovative projects that transform business operations,” officials say.
Need a Reprint?