{"id":328,"date":"2017-01-23T02:44:08","date_gmt":"2017-01-23T02:44:08","guid":{"rendered":"https:\/\/blogs.scu.edu\/finis\/?p=328"},"modified":"2017-01-23T02:52:47","modified_gmt":"2017-01-23T02:52:47","slug":"entry-of-open-source-tech-into-financial-services-ecosystem","status":"publish","type":"post","link":"https:\/\/blogs.scu.edu\/finis\/2017\/01\/23\/entry-of-open-source-tech-into-financial-services-ecosystem\/","title":{"rendered":"Entry of Open Source Tech into Financial Services Ecosystem"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium\" src=\"http:\/\/i1-news.softpedia-static.com\/images\/news2\/European-Union-Should-Finance-Key-Open-Source-Projects-Says-Mass-Surveillance-Study-479234-2.jpg\" alt=\"\" width=\"1024\" height=\"520\" \/><\/p>\n<p>When we refer to &#8216;Open Source&#8217;, we usually stereotype it as something related to software (say Android or Python based application) especially when the context relates to a Financial Information Systems. However, Mozilla (the company behind the Firefox web browser) has managed to break this stereotype by making a low end smartphone that could prove to be a promising instrument in the world of finance based systems. Similarly, Allevo (a Romanian company) has put in a core banking transaction processing software in the market while UK&#8217;s OpenGamma is providing a risk analytics platform (a hot topic in a banking\/ finance institution). But what does it take to make such a technology work\u00a0? There are a few must-haves for a financial system that aims to leverage open source technology &#8211;<\/p>\n<ul>\n<li>Accessibility<\/li>\n<li>Outreach for the Customer (using a Know Your Customer [KYC] system)<\/li>\n<li>Flexibility<\/li>\n<li>Open (should be based on Open APIs for new service providers)<\/li>\n<li>Complementary (Ability to combine services as needed)<\/li>\n<\/ul>\n<p>But building an ecosystem adhering to the above stated requirements and expanding it across borders will take some effort even more so because the core requirement for this\u00a0technology is a system that is &#8211; Open, Safe and Reliable.<\/p>\n<p>Full Article &#8211;\u00a0<a href=\"http:\/\/bankinnovation.net\/2014\/04\/four-technologies-that-will-revolutionize-financial-services\/\">http:\/\/bankinnovation.net\/2014\/04\/four-technologies-that-will-revolutionize-financial-services\/<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>When we refer to &#8216;Open Source&#8217;, we usually stereotype it as something related to software (say Android or Python based application) especially when the context relates to a Financial Information Systems. However, Mozilla (the company behind the Firefox web browser) has managed to break this stereotype by making a low end smartphone that could prove &hellip; <a href=\"https:\/\/blogs.scu.edu\/finis\/2017\/01\/23\/entry-of-open-source-tech-into-financial-services-ecosystem\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Entry of Open Source Tech into Financial Services Ecosystem<\/span><\/a><\/p>\n","protected":false},"author":1859,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"qubely_global_settings":"","qubely_interactions":"","kk_blocks_editor_width":"","_kiokenblocks_attr":"","_kiokenblocks_dimensions":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-328","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"gutentor_comment":0,"qubely_featured_image_url":null,"qubely_author":{"display_name":"vdeorukhkar","author_link":"https:\/\/blogs.scu.edu\/finis\/author\/vdeorukhkar\/"},"qubely_comment":0,"qubely_category":"<a href=\"https:\/\/blogs.scu.edu\/finis\/category\/uncategorized\/\" rel=\"category tag\">Uncategorized<\/a>","qubely_excerpt":"When we refer to &#8216;Open Source&#8217;, we usually stereotype it as something related to software (say Android or Python based application) especially when the context relates to a Financial Information Systems. However, Mozilla (the company behind the Firefox web browser) has managed to break this stereotype by making a low end smartphone that could prove&hellip;","post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts\/328","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/users\/1859"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/comments?post=328"}],"version-history":[{"count":4,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts\/328\/revisions"}],"predecessor-version":[{"id":338,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/posts\/328\/revisions\/338"}],"wp:attachment":[{"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/media?parent=328"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/categories?post=328"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.scu.edu\/finis\/wp-json\/wp\/v2\/tags?post=328"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}