BMO CIO: Open source boosts internal risk platform performance

The bank’s proprietary solution uses Apache Spark to calculate forward-looking loss scenarios in its loan portfolios.

Financial institutions have historically been wary of open-source technologies. These firms are closed systems, valuing secrecy and information security as a means of gaining an edge over the competition. Six or seven years ago, however, financial firms began to recognize that a lot of the innovation coming out of Silicon Valley was in the open-source world, and began to cautiously move toward open-source engineering.

One example of a financial institution openly embracing this movement is

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How GenAI could improve T+1 settlement

As well as reducing settlement failures, researchers believe generative AI can provide investment managers with improved research, prioritization, and allocation resources.

Interoperability is not AI

Dan Schleifer, co-founder of, explains how desktop interoperability underpins new AI developments.

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