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Why Tidelift joined FINOS

Donald Fischer
by Donald Fischer
on March 7, 2024

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Today, I’m excited to share that Tidelift has officially joined FINOS, the Fintech Open Source Foundation.

In joining FINOS, Tidelift is building on our existing participation in the Linux Foundation and the Open Source Security Foundation (OpenSSF), where we have already had the opportunity to collaborate with many FINOS member companies.  

Finance is similar to most other modern industries in that it extensively relies on third-party open source software. But financial services is also unique in terms of its risk exposure, its criticality, and its regulatory environment. Thus, it benefits from a focused collaboration like FINOS.

In fact, we’ve found that leading financial services organizations are acutely aware of their reliance on open source software created by independent maintainers, and are continually on the lookout for creative solutions to address this unusual form of third-party “supplier.”  More recently, policy-makers and regulators have become more active in cybersecurity as well, as evidenced by the U.S. Securities and Exchange Commission’s recently updated Rules on Cybersecurity Risk Management.

Hence, financial services organizations have been some of our earliest adopters and among the strongest supporters of Tidelift’s unique approach to third-party open source risk management: partnering with independent open source maintainers to ensure, and attest, that their projects follow specific secure development practices (such as those outlined in the NIST SSDF and OpenSSF Scorecards).

To learn more about how Tidelift helps leading financial services organizations use open source with confidence, visit Tidelift financial services solutions.

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