Fintech is transforming the banking and financial services industry. It’s incorporating innovation and responding to consumers’ demands.

Banking and financial service firms are introducing digital payments, card less transactions, mobile deposits and other self-service options to Business-to-Business (B2B) and Business-to-Consumer (B2C) markets. Last year, the industry had over 1,700 deals with nearly $40 billion, reports CB Insights. Visits to bank branches are expected to drop 36% between 2017 and 2022, while mobile transactions are expected to grow 121%, according to The Financial Brand.

Here to stay are the businesses — including personal financial management, insurance, payment and asset management firms — which are leveraging open source applications to solve a host of problems, from exploring new technologies to delivering real-time services. Simultaneously, they are reducing costs, accessing top talent and receiving best-of-breed technologies.

Among the open source firms which have joined our network are AlibabaAnt Financial Services Group and Tencent Holdings.

OIN Banking & Financial Services Industry Members

Banking & Financial Services Industry News

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Join leaders from the Banking & Financial Services Industry

Square - OIN Community
Ally - OIN Community
ANT Group
Nationwide
SMFG
FINOS
UnionPay
Rakuten
alibaba
Tencent

What our members say

“We recognize the value in shared innovation, a fundamental characteristic of open source communities. In addition to joining OIN, Square is one of the founders of the Crypto Open Patent Alliance (COPA), a collaborative consortium in which members pledge not to use their crypto technology patents, except for defensive purposes. Our participation in the OIN community demonstrates our commitment to support collaborative technology development.”

Max SillsCounsel at Square and General Manager of COPA