Open Source Strategy Forum 2019: Key takeaways

GreenKey

December 3, 2019

GK was pleased to participate in this years’ Open Source Strategy Forum, presented by FINOS. The one-day conference facilitates and promotes collaboration within financial services, technology and of course, open source, with the aim of building better code faster through community development.

Tom Schady, CTO at GK, and leader of the FINOS Voice Program, gave a presentation about how ‘IPC, GK, Symphony, and OpenFin Leverage Open Source to Create Chatbot Ecosystem for Financial Markets’.

The presentation was very well received and generated lots of questions and engagement for the audience. Tom gave a live demonstration of how GK’s Natural Language Processing technology works using Blotter, Focus and a Symphony bot. The real-time phone transcription was definitely the highlight of the presentation and certainly impressed the audience.  He discussed GK’s partnerships and community development efforts, drawing parallels between the challenges of distributed computing and distributed projects which seemed to resonate with a lot of people. 

Joy Rosenstein, VP of Product, also attended the conference and her favorite quote of the day was “Do not compete for talent, collaborate for it” shared by Don Raab of BNY Mellon. He suggested that the war for talent is over and that talent is working on open source. We couldn’t agree more!

Chris Contrino, Customer Success Manager, drew inspiration from the talk ‘FDC3: Leveraging the Network Effect’. He found it very useful and particularly enjoyed the discussion around the financial desktop of the future and how the interoperability of applications using open source can transform day to day tasks and workflows – something that the team at GK are very familiar with.

Other key takeaways include:

GitHub

Kathy Korevec from GitHub shared some really interesting metrics: 

  • There are 40 million developers on GitHub, and 10 million of those joined this year alone
  • Companies using some open source code increased from 39% in 2010 to 78% in 2014
  • 65% of companies contribute back to projects. Using open source projects virtually expands the number of developers working on your software.

Santander

Santander is working on solving the problem of digital trust by working on an open source project around identification standards and APIs.

RBC

Kim Prado presented RBC’s plan to migrate from their old SalesBook effort to a new generation webapp. This effort began a few years ago after a failed demo pushed them to realize it was time to upgrade their old infrastructure and build a container to present all the data that RBC had been collecting, generating and aggregating. SalesBook 2.0 is now live in OpenFin and RBC can continue building on top of it thanks to the modular architecture.

FDC3

FDC3 was a hot topic with presentations from both Riko Eksteen and Nick Kolba. Riko’s presentation was about the parallel between value creation by the network effects of microservices, standardized communications via HTTP, Docker and FDC3. The desktop interoperability capabilities created by FDC3 create a componentized desktop experience which provides value to the user community. It was revealed that over the past 23 years, network effects have accounted for approximately 70% of the value creation in tech.

We thoroughly enjoyed the conference and gained some really interesting insights. Thank you to FINOS and the speakers!