Linux Foundation has acquired the Fintech Open Source Foundation (FINOS). As part of the collaboration, Linux Foundation will position FINOS as its umbrella project through which to advance further development of open source and standards within the financial services industry.

• FINOS is a diverse community of developers, financial and technology industry leaders committed to making contributions that will enable open source to flourish in financial services.
• The FINOS team, led by Executive Director Gabriele Columbro, will join the Linux Foundation. Columbro will continue in his role.
• FINOS will be empowered now to expand and accelerate its work through the global open source community and Linux Foundation’s services and resources.
• Having grown rapidly over the last two years, the community today boasts 30+ member organizations, 300+ contributors and many open source projects delivering value to participants across the industry.

“In less than two years, FINOS has become the go-to foundation for open source collaboration in financial services. With this sector’s focus on technology-driven solutions, we feel the time is right to bring our two communities together to enable the next stage of innovation for our projects,” said Jim Zemlin, executive director at the Linux Foundation.