March 5, 2024 — The 2023 State of Open Source in Financial Services Report by the Fintech Open Source Foundation (FINOS) reveals Open Source is growing & becoming more permissive in Fintech compared to last year. The industry is also increasing its understanding of co-opetition – the common belief among Open Source Software (OSS) advocates that businesses share basic technologies & building blocks to compete higher in the tech stack through differentiated offerings. The largest Patent Non-Aggression community in history, Open Invention Network generates patent peace through a royalty-free cross license & is also witnessing high growth in the Fintech industry. Banks – including Barclays, RBC, Sumitomo Mitsui, U.S. Bank, TD Bank & The Bank of Nova Scotia — as well as Financial Service firms — ADP, Ally Financial, Ant Group, Block, Broadridge, Equifax, Rakuten, Stripe & TransUnion among others — are OIN community members. Tech Company News shares the story.

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