Open Source in Finance Forum London 2024

Tazama is a recently launched project in the Linux Foundation. Tazama offers open source real-time transaction monitoring software for fraud and money-laundering detection. Our presentation introduces the product and its origin story, from its ideation as one of the Bill & Melinda Gates Foundation's Level One principles, to its MVP launch in April 2022 and ultimately its integration into the Linux Foundation. We will provide an overview of our mission, specifically to enable financial inclusion by promoting trust in digital financial ecosystems. We will also provide insight into our adjacent work in establishing a standards body that will collect and publish standards for reporting, sharing and actioning information on Financial Crime. Finally we will present the product itself to give the audience an overview of the features, capabilities and context within their own ecosystems.

PremiaLab's choice to implement the Common Domain Model (CDM) was driven by practical needs: a flexible data model, efficient management of derivative products, and improved integration with our partners. This talk will outline the straightforward benefits we've seen from adopting CDM, including enhanced operational flexibility, the ability to handle a wide range of derivative products, and easier collaboration with our ecosystem. We'll share insights into how CDM has supported faster innovation and streamlined processes within our organization. Join us to learn about the tangible advantages CDM offers and its role in simplifying complex financial operations.

Acadia proposes to present the Open-Source Risk Engine (ORE), an open-source framework for derivatives pricing and risk analytics. The session is intended to provide attendees with an overview of ORE from a technical and practical implementation perspective. With quarterly updates and over 150 financial institutions utilising ORE on a daily basis, this presentation will be extremely useful and informative for the audience. We will provide delegates with an insight in ORE and how it is being deployed for free by financial institutions across a range of use cases including model validation, market risk analytics such as sensitivities and VaR calculations, credit risk analytics to compute xVAs and exposures, benchmarking and backtesting. ORE can be used for Balance Sheet valuation, credit exposure simulation, derivatives valuation, value adjustments, CSA pricing and market risk and it is fully extensible. We welcome the opportunity to share practical examples where ORE is being used alongside the support and training materials that are available for the community to leverage. Further information can be found on https://www.opensourcerisk.org/

An expert panel discussion introducing, discussing & sharing the Korn Ferry ‘Tech Talent Crunch’ research and the potential impact on FINOS members – Sharing real-world case studies of companies utilising the nearshore/offshore/digital nomad talent acquisition options now available (showcasing African talent)

https://www.kornferry.com/insights/this-week-in-leadership/talent-crunch-future-of-work

Once considered a closed ecosystem, the IBM z/OS mainframe is embracing open source. This session explores transformative projects like Zowe and Galasa that empower users in retail, banking, and insurance. These tools address critical areas: streamlining operations with automation (e.g., job scheduling), enhancing security with vulnerability scanning, and unlocking innovation through data analysis and cloud integration. Aligned with the Open Mainframe Project, this session equips you to leverage open source for a revitalized, cost-effective, and future-proof mainframe environment.

LF OS-Climate (OS-C) is a breakthrough initiative creating a transparently governed public utility of open data and open source tools for climate-aligned finance investing, business, and regulation. This session explores the launch of a global open-source collaboration to create the most potent tool for data-driven decisions in transition strategies, investments, new technologies, and policies. We will present OS-C's comprehensive technical infrastructure and methodologies, fostering the development of open data products that address the challenges of climate transition. A critical focus will be the Data Mesh architecture, pivotal for federating diverse climate data sources and achieving Net Zero objectives. Additionally, we'll introduce a new open data product, essential for financial institutions to disclose quantitatively the degree of alignment/non-alignment to Paris goals of the $87 Trillion in sovereign bonds making up about a third of all pension fund and insurance investments globally, a vital step for the Net-Zero Asset Owner Alliance (AOA) and Glasgow Financial Alliance for Net Zero (GFANZ) members towards realigning commitments to Net Zero.

This session explores how financial services organizations can "play the long game" to create future customers, and how open source is playing a role. 4% of the UK and 7% of the United States populations are unbanked, with hundreds of millions more around the world. Using the United Nations Sustainable Development Goals as a framework, attendees will discover how open source technologies provide the critical base layers for building innovative solutions that reduce poverty, enable access to financial markets and public services, and do so in a secure and trustworthy fashion. There's not only a leadership opportunity to collaborate on sustainability through open source, but a business one, too!