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Synechron Joins the Fintech Open Source Foundation (FINOS) As a Silver Corporate Member to Further Open Source Mutualization

Synechron Joins the Fintech Open Source Foundation (FINOS) As a Silver Corporate Member to Further Open Source Mutualization

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Posted on 23rd November 2021

Synechron, a leading digital transformation consulting firm focused exclusively on the financial services industry, today 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 which brings 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 be contributing its deep financial services industry domain experience and wide innovation expertise toward the FINOS 2022 focus on developer-centric financial services modernization. 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.

About Synechron

Synechron is a leading digital transformation consulting firm focused on the financial services industry and is working to Accelerate Digital initiatives for banks, asset managers, and insurance companies around the world. Synechron uniquely delivers these firms' end-to-end Digital, Consulting, and Technology capabilities with expertise in wholesale banking, wealth management, and insurance as well as emerging technologies like Blockchain, Artificial Intelligence, and Data Science. The company is present in 17 locations around the globe and across key financial markets, with over 13,000 employees producing $570.9M in annual revenue. For more information on the company, please visit our website or LinkedIn community.

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