Financial Services after Covid-19 : Open Source Paves the Way - Andrew Aitken, Wipro

In this eighth edition of the FINOS Open Source in Fintech Podcast, FINOS Director of Community James McLeod interviews Wipro's Global Open Source Practice Leader, Andrew Aitken after their FINOS Virtual Meetup presentation on June 17, 2020. Head to the FINOS.org site to see the video of the presentation, along with Andrew's slides. Due to Covid-19 impact, financial services need to explore and understand the new normal – ensure stronger business continuity, engage and enable a remote developer workforce and facilitate  digital business models at optimal costs. Open source already plays a key role in many financial services organizations, and with its ability to drive innovation, support organizational and cultural change and reduce costs, it’s going to become an even larger part of the post-Covid IT landscape. A robust and enterprise-wide open source strategy is key to maximizing the benefits of open source while managing any potential risks.. Open source can be a key to accelerating the journey to the new normal. A Deloitte article on the impact of Covid-19  on Banking and Capital Markets focuses on key questions they advise boards to ask themselves, and our reference on how open source can be a part of the solution How to infuse organization agility while enhancing risk management in dispersed work environment? – Inner Source How best to serve the banks’ customers particularly those who may be affected by the impacts of Covid-19? – Digital business models (OSS-based scalable cloud native solutions) How to manage costs while the existing operational infrastructure expands to accommodate remote work? – OSS rationalization and modernization How to continue to maintain business and operational resilience as circumstances change? – OSS Monitoring and Automation Technologies Andrew will be speaking at the FINOS & Linux Foundation Open Source Strategy Forum (OSSF). FINOS VIRTUAL "MEETUPS" The FINOS Open Source in Fintech Podcast celebrates open source projects and interesting topics at the cross section of financial services and open source. So far, our industry experts have discussed practical applications of and their real-world experiences with a range of open source projects including desktop interoperability, low code platforms, synthetic data, and data modeling. They’ve also discussed best practices for inner source, common myths about open source and why commercial companies choose to introduce open source offerings. Tune in to hear what comes next. Visit here for more FINOS Meetups Visit the FINOS website - and Get Involved Join us for the FINOS & Linux Foundation Open Source Strategy Forum (OSSF).