Finos Sees Opportunity for Open Source in RegTech Space

The nonprofit is reaching out to regulators to determine where open source could ease regulatory burdens on financial institutions, while keeping them competitive with tech companies.

open source

If you can’t beat ’em, join ’em.

As much as they want to move fast and break things like their tech peers on the West Coast of the US, financial services firms operate in a heavily regulated space. Gabriele Columbro, founder and executive director of the Fintech Open Source Foundation (Finos), says that while the debate between regulation and deregulation will persist, the focus should be on streamlining the reporting process using newer, more sophisticated tools in conjunction with existing

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