About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

FINOS Launches Open RegTech Initiative, Highlights Open Source Advantages for RegTech Innovation

Subscribe to our newsletter

The Fintech Open Source Foundation (FINOS), has launched a new ‘Open RegTech’ initiative, which aims to expand the successful open collaboration model built between financial institutions, fintech and technology firms to regulators and RegTech companies.

Announced at the organization’s annual Open Source Strategy Forum (OSSF) held virtually in conjunction with the Linux Foundation earlier this month, the news accompanies the largest number of ‘commits’ (the smallest unit of contribution) on its open source projects since its inception, a growth of 40% on the previous record.

FINOS also confirmed a new codebase contribution from Deutsche Bank in the form of the Symphony Java Toolkit, along with the OpenMAMA project, led by JPMorgan, Deutsche Bank and several other FINOS members.

“When we started the foundation two years ago, we couldn’t have predicted such a groundswell of support from the financial services industry for our community and are extremely proud of what we’ve accomplished,” says Gabriele Columbro, executive director, FINOS, whose mission is to foster adoption of open source, open standards, and collaborative software development practices in financial services. “This is just the beginning. By establishing an open source model for the regulatory community, building a strong project portfolio and adding active contributions from financial institutions, we have a unique opportunity to tackle other long-standing industry challenges.

“Open source in financial services is a positive-sum game,” he adds. “Not only does it help industry consortia and regulators resolve important and complex issues at the crossroads of policy and technology, but it also provides technology and fintech companies with the ability to generate business opportunities through a commercial open source ecosystem, especially for those who will enjoy a first-mover advantage by engaging early in communities like FINOS.”

The FINOS board also recently established the use of Special Interest Groups (SIGs) to bring together financial services stakeholders to define problem statements in specific areas that can be tackled through open source collaboration. The most recent of these was the Regulation Innovation SIG, chaired by Ian Hollowbread, Head of RegTech at ING Labs, and supported by AIR, the Alliance for Innovative Regulation. The focus of the group is to create open source solutions for regulatory and compliance issues in financial services.

“Global challenges need global solutions. That’s why at ING, we collaborate with others, both on existing platforms and on new ones we have yet to create,” says Hollowbread. “Working together with open source communities, we can achieve greater coordination and bring standardization to regulatory processes to help proactively protect the financial services sector at large.”

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: Best approaches for trade and transaction reporting

11 September 2025 10:00am ET | 3:00pm London | 4:00pm CET Duration: 50 Minutes Compliance practitioners and technology leaders in capital markets face mounting pressure to ensure that reporting processes are efficient, accurate, and aligned with global standards. Market developments and jurisdictional nuances in regulatory frameworks like MiFID II, EMIR, SFTR and MAS create a...

BLOG

Kaizen and RegGenome Partner to Streamline Global Regulatory Intelligence

Reg reporting specialist Kaizen has forged a partnership with RegGenome, a spin-out from the University of Cambridge and a founding member of the open-source Regulatory Genome Project (RGP), aimed at helping financial institutions navigate complex global regulations. The tie-in combines RegGenome’s AI-powered regulatory data repository with Kaizen’s award-winning Single Rulebook platform. The partnership leverages the complementary...

EVENT

AI in Capital Markets Summit London

The AI in Capital Markets Summit will explore current and emerging trends in AI, the potential of Generative AI and LLMs and how AI can be applied for efficiencies and business value across a number of use cases, in the front and back office of financial institutions. The agenda will explore the risks and challenges of adopting AI and the foundational technologies and data management capabilities that underpin successful deployment.

GUIDE

AI in Capital Markets: Practical Insight for a Transforming Industry – Free Handbook

AI is no longer on the horizon – it’s embedded in the infrastructure of modern capital markets. But separating real impact from inflated promises requires a grounded, practical understanding. The AI in Capital Markets Handbook 2025 provides exactly that. Designed for data-driven professionals across the trade life-cycle, compliance, infrastructure, and strategy, this handbook goes beyond...