 I'd like to introduce our first speaker today. Our first speaker today is Jane Gavronsky. She's the Chief Operating Officer for FinTech Open Source Foundation, Finos, in short. So Jane joins us today to talk about the momentum of open source in financial industry. So please welcome Jane Gavronsky. Thank you. Hello, everyone. Nice to see her today. Thank you for joining me. So let's begin. So today I wanna talk to you about the state of open source in financial services. Finos, the FinTech Open Source Foundation, we are focused on bringing the best practices of open source and open collaboration to financial services. And this is our team. This is the whole team, including the Linux Foundation team who were together recently in New York. And I also wanna send warm hellos from my boss, the Executive Director of Finos, Gabriela Colombro, who couldn't be here today, and you have me instead. But I will share with you all my excitement and all my energy around what we are seeing as the transformation of financial services and what role open source and open collaboration is playing in that role. So let's start. Open source is everywhere in financial services. We have an amazing community and it's a growing community. We have a tremendous amount of projects which deliver real business value. And there are lots of opportunities to start participating in those projects and to join the community. So today I will cover these things with you. I will talk to you about our community. I will talk to you about some of the projects and it's quite a long list, so buckle up. And then we'll talk about how you can participate in those projects and in this community. So last month, as I said, we had our conference in New York. We hold this conference twice a year, once in London and once in New York, the open source and finance forum. And we had over 1,000 people register for the conference which was a big, that's a big number for us. That's tremendous growth. And not only that, over 750 people joined the conference. We had lots of talks. We had sister Linux foundation projects joined the conference as well. And the 10 project booths that I mentioned here, that's very exciting personally for me because those were Phinos projects were doing demonstrations of the work that they've been doing, how the implementation of these projects goes on in the industry right now. So these are deployments that are in production already. So, and the other thing I wanna mention that out of those 750 people, three companies, three of our platinum members sent each company had over 100 representatives of that company at the conference. So for us that's, that is a tremendous indication of how the word is getting out, how much people are beginning to recognize that open source is a big component of what they do every day with technology. So, and I wanna say that also for financial services industry, this is quite unusual. The industry, the attendees were sharing this information with each other. Posting on LinkedIn, they're sharing their impressions. The positive energy that we felt there was really, I have to say, was extremely energizing for the team. We were so excited to see how much people appreciate and the value they're getting from the conference. But not all of our conferences look like this in the beginning. It was quite the small room of people, you know, and we grew over time. So let's look at our membership today. What you see here is we're very proud to say that we have a lot of global companies all across the financial services value chain who are now proud members and proud contributors to our community and to our projects. This year, we added 16 new members, which is quite a large number for us. So the growth curve is quite steep for us. And one of the ways we measure this growth is actually through our survey. So Nori talked about the survey in Japan. We also have a survey that was released about a month ago at our conference, the state of open source in financial services. I will also ask you to download and I will have this QR code for you later as well. So now we have three years of data, which is already kind of, it's a good amount of information on how we're doing and what the progression is. And let's look at some of the statistics. So are companies thinking of where, how are they thinking about open source? Are they open source first? And where does open source play in the technology landscape of financial institutions? So while in 2021, only 25% of surveyed organizations said that they were open source first. Our year later, what you see here is now we're up to 48% encouraging consumption. And if you look at 2023, just three years later, an overwhelming majority of companies are already encouraging consumption of open source. So let's look at adoption of open source. So contribution to open source, open source projects. In 2021, 45% of respondents said that their company prohibits, prevents people says no, don't contribute to open source. 2022, that number went down to 25%. And in 2023, we're down to only 5% of the organizations prevent people from contributing to open source. Now, we would like to think that this is thanks to the work we at Finno are doing, but I'm sure that there's more to it than that. I'm sure that it is the global open source community that is contributing to this. But we're thrilled to be here and helping people on this journey. And like I said before, the conference kind of gave us a really good indicator of what we can do. So we talked about community. Now let's talk about projects. And I have quite a few projects to share with you. So please bear with me and hopefully this is something that you will find very interesting. So in Finno's, we define every year, we define strategic initiatives, things that we focus on more than some other things because we feel that the value and the potential opportunity is greater. So this year, we defined three strategic initiatives. One is open source readiness. The second is open REC tech. And the third is FDC three. So let's talk a little bit about it and I'll give you some details on each one of these in a minute. Open source readiness is all about helping financial institutions become open source ready. So in Finance, as I said, all of this isn't part of the culture of companies. And when they look at, and as you saw in statistics, they look at open source and they say, well, is this for us? What should I do? How do I become active? And of course, there's a big concern around compliance and sort of letting go of IP or secrets of the company. So what Finance has historically been very involved in is helping people on the journey of understanding how they can safely and in a compliant manner become involved in open source. And that's very important, right? Because otherwise, if the developers can't contribute, can't participate, then you're basically stuck. You can't go anywhere. So that one is very important. Open RegTech is an area which is growing quite quickly. As you know, financial services are quite a regulated environment. And those regulation compliance is quite costly also. So we see and we feel, we get feedback from our membership that collaborating on figuring out how to be compliant and create innovative solutions for compliance with respect to regulation is something that's very interesting for them. So we have a few projects in that space. And also, desktop interoperability, if you're a UI developer, you know that a lot of UI components need to operate together and transferring information from one to the other is a big topic of conversation. So that's where FDC3 comes in. So let's look at open source readiness. As I said, this is something that's been on the plan for Finos for quite some time. And a lot of our members, our community members who have become mature in their open source journey are now sharing that best practice experience with each other. So this year, they all came together and they created an OSR body of knowledge. So basically, your peers, peers in the financial services are sharing with each other. And let's look at who those are. These are the companies that came together and generated this body of knowledge to say we've been on this journey. We've made it happen for our companies. Now you can use our experiences to get yourself mature in open source as well. And not only do we have this body of knowledge, but we also, this year, we created a course to take developers on this journey. So now we have this available for financial institutions to say, okay, you can take this course and you become, as a developer, you can become certified. And basically, your organization can then allow and approve your participation in open source because they know that you understand the rules. So now let's move to FDC3. As I said, desktop interoperability is a big area of focus in financial services. And as you see here, we have a lot of companies participating both developing FDC3 as a standard for interoperability and also using that standard inside their organizations to have their applications talk to each other. I have another example coming up. I'll tell you in a second of how this is being deployed in real life. But in 2023, this year we deployed FDC3 2.1 and we also introduced new courses. So there's a high level intro course to FDC3. What is it and what does it do? And there's an in-depth developer training course that trains the developers in how to use FDC3. And there is a certification that's going to be coming up. So if you wanna join this effort and you are interested in user interface interoperability across applications, please look this up. And I apologize, I'm going very fast because I have a lot of very exciting projects to share with you. So we covered open source readiness, we covered FDC3 what's next. Of course, compliant cloud deployments. Cloud deployments and compliance, again, as I mentioned, regulatory compliance is a very big deal in financial services. This is a new project we started and we announced public participation in this also at our conference, Common Cloud Controls. Project was proposed by Citi and they brought it to us because cloud deployment, safety and compliance is an industry-wide effort. One bank does not, if they solve the problem for themselves, there's really no reason why they should not share that knowledge and learn from other people's experiences. So, and the effort really can only succeed as an open standard, right? One, again, one institution doing this one way does not really help the situation. So it's this standard which is now, we have over 130 people participating in the working groups. So we have, I believe it's four working groups that are getting together on a regular basis and developing the standard for how to design compliance of cloud deployments, to do threat modeling, to create controls around deployments. So this has seen tremendous reception from the community and the project took off really very quickly. As you see here, there are a lot of participants. Now, we talked about cloud compliance. The other area of standards, which is quite interesting and this is one of the areas where I am personally involved very closely is the common domain model. The common domain model was brought to us by three trade associations, ISDA, ISLA and ICMA, who are collaborating on this model for modeling trade and post-trade activities in the derivative space and the repost space and the securities lending space. So now we're getting really, whereas some of the other projects were purely technology based, now we're getting really deeply into kind of the business operations, the understanding how the business works in financial services. So CDM now is a standard that sits at Finos and there's a lot of working groups that are working on different parts of the CDM. We just two days ago announced the release of version 5.0 with lots of enhancements and this is another opportunity to if you are focused on derivatives, if you're focused on settlements and clearance, this is an area that is developing very rapidly and I would encourage you to take a look at the CDM. But wait, there is more. There is also the Zenith Special Interest Group, which is a group that's focused on emerging technologies. This has also received a lot of interest from our community and they're in the process of proposing several pilot projects. So there's another place where you could read more and get involved. There are a lot of very interesting emerging technology components that they're discussing. Now that I've told you about some of our premier projects, some of the ones that we focus on as part of our strategy, I wanna tell you there is even more there. We have a landscape of projects. We have a last count, I think it was 56 projects that we have and there are some others there that are quite popular. For example, Perspective is another project which enjoys a lot of popularity. I think it's over 7,000 stars on GitHub. So please take a look. And the evidence, the statistics also speak for themselves. Not only is contribution and the growth of our community is going up in a very healthy matter. Adoption is also increasing every day. So just of DC3 alone, the increase in NPM downloads this year is quite sizable and as I said, Perspective has been a popular project for some time. So these projects are all very exciting but let's look at how they deliver business value. Some of these stories were shared, the stories that I'm gonna share with you right now were shared at our conference. Because again, like I said, it's not just about having the projects, it's about seeing how these projects and the collaboration within the industry creates real business opportunity, solves real problems, that there's a commercial business value in engaging in the collaboration. So our survey actually talks about this too. Most of the survey respondents have said to us, yes, we believe open source delivers value to our organization and we also believe that it delivers value to the industry at large. In other words, they see that collaboration really changes the landscape within the industry. This is a story, as I said, that was told at our conference by Citibank. They saw their on ramp of open source participation go from getting open source ready to then sharing those best practices with their technology departments with their talent pool and then contributing common cloud controls as a project. So they're going from a participant, an adopter of technology to becoming a leader in open source. And this is the ramp that we see quite regularly with our members. They start small and then they get bigger. One of our most recent members on the buy side, Wellington Management, they also undertook the same journey. They joined about two years ago and from two years ago to last month, to me, that was a fantastic journey of increased collaboration. At our conference, they actually showcased a use case that they developed together with Morgan Stanley. They joined Finos. They partnered with Morgan Stanley. They took FDC3 and they implemented a a buy side to sell side case of FX, I believe it was RFQ communication from Morgan Stanley to Wellington. And not only did they implement this and put it into production, but they had the traders come and talk to us about what this interoperability does for them, how this connects and standardizes the communication between the applications that sit on the Morgan Stanley side and the applications that Wellington Management are using. And of course, this now can be taken to the next level. So as more and more institutions on the buy side and sell side start using FDC3 as a means of communication, this will deliver more and more value. To me, personally, what was impressive was not only that the technologists became involved in this work, but also that they brought their business people to talk about the value at our conference. So not only is it for sell side, not only is it for buy side, but it's also for the smaller companies, the service providers and the startups. They're utilizing our projects to create products. Now some of the startups are getting kicked off and new companies are coming up and they're becoming leaders in the space. So really what's exciting to me personally is the fact that everybody in the financial services ecosystem, no matter what kind of participation you have in technology, there is something in here for you. I am actually running out of time, but one of the things I wanna tell you about before I close is we also had, for the first time in a while, we hosted three hackathons this year. The first one was held in May and we had over 100 people joined. Not only did our members join, but non-members joined as well. And this was a fantastic reception. We haven't really seen that much participation in a while. We also then held a hackathon together with Discover. Discover became a member earlier this year and they hosted an Accessibility Awareness Day hackathon. And just last month, we hosted, and they contributed, sorry, before I move off the slide, they contributed a project to us just a few months ago on the basis of the results of the hackathon. And just last month, we held a hackathon around ESG, ESG Data Standardization that was hosted at Goldman Sachs in London. And that too, five teams presented results and now we're talking about a project to be formed around the ESG Data Standardization. So this is really, really exciting. So you see that there is both business value, there's lots of projects, the community is growing. So how do I wanna close? I wanna ask you to join us and to learn more about the space. As I said, download our report, take a look at some of the presentations and some of the sessions that went on at our conference and take a look at the coursework that we're offering in FDC3, in open source readiness, the certifications that are coming out. And last but not least, come and talk to me if you have questions or ideas, I'm here. And I'd love to engage with you and talk with you some more. Thank you very much. Thank you.